Lawrence Jengar
May 10, 2026 19:04
Michael Saylor hints at a fresh BTC purchase as Strategy explores selling portions of its treasury to fund dividends, sparking mixed reactions.
Michael Saylor, co-founder of Strategy, has signaled that the Bitcoin-focused treasury firm plans to resume its BTC buying spree as early as Monday. The news comes after a brief pause in acquisitions ahead of Strategy’s Q1 2026 earnings call, during which Saylor also hinted at a controversial shift: the potential periodic sale of Bitcoin to fund dividends.
In a post on X (formerly Twitter) on Sunday, Saylor shared, “Back to work, BTC,” a phrase he’s used in the past to foreshadow imminent Bitcoin purchases. The company’s last acquisition, on April 27, added 3,273 BTC to its holdings at an average price of $78,000 per coin, bringing its total stash to 818,334 BTC—valued at approximately $61.8 billion at the time.
This announcement follows Strategy’s disclosure that it may occasionally sell Bitcoin to meet obligations such as dividend payments to credit holders. The move marks a stark departure from the company’s long-standing “never sell” principle, and it has stirred debate within the Bitcoin community.
Selling Bitcoin to Fund Dividends
During the Q1 earnings call, Saylor described the decision to sell portions of BTC as a way to “inoculate the market,” suggesting it could normalize the practice and reduce volatility concerns. Strategy CEO Phong Le later clarified that such sales would only occur in specific scenarios, including paying dividends and covering taxes. He downplayed fears of market impact, noting that Bitcoin’s daily trading volume—exceeding $60 billion—could absorb the company’s $1.5 billion annual dividend obligations without significant disruption.
The shift in Strategy’s approach has drawn mixed reactions. Supporters, like investor Adam Livingston, argue that periodic sales could actually enhance the company’s ability to buy more Bitcoin over time. Meanwhile, critics warn of a potential “doom loop,” where sales and credit obligations suppress BTC’s spot market price.
Market Implications
With Strategy holding roughly 4% of Bitcoin’s total supply, its actions carry weight in the ecosystem. Some analysts, like Samson Mow, view the added flexibility to sell as a positive, providing the firm with greater agility in navigating financial markets. Others, however, worry that even minor sales could send bearish signals to traders and institutional investors.
Strategy’s next Bitcoin purchase, expected to follow Saylor’s Sunday hint, will be closely watched. Whether the firm’s evolving treasury strategy bolsters or undermines market confidence remains to be seen.
As the crypto community debates the implications of Strategy’s new direction, one thing is clear: Michael Saylor’s moves continue to wield significant influence over Bitcoin’s narrative and price dynamics.
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