Saylor Says Strategy Would Buy 10 to 20 Bitcoin for Every One It Sells

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Strategy Chairman Michael Saylor said any Bitcoin sales would be far outpaced by new purchases, with the company aiming to buy 10 to 20 BTC for every one it sells. The comments follow last week’s earnings call, where Strategy said Bitcoin sales could be considered to fund STRC dividends under specific conditions.

Saylor Reframes “Never Sell” as Net Accumulation

In a podcast interview released over the weekend, Saylor said occasional Bitcoin sales would be dwarfed by the pace of new buying.

“In these periods, even if we were to sell one bitcoin, we’d be buying 10 to 20 more bitcoin,” Saylor said. “You should be a net accumulator of bitcoin. When I said ‘never sell your bitcoin,’ I mean make sure if you were to spend it on something, you replenish in the time you spend it.”

In a separate appearance at the Consensus 2026 conference in Miami, Saylor described Strategy’s 818,334 BTC as entirely liquid and argued that refusing to use that liquidity would diminish the asset’s value. He said the company could sell as little as 20 basis points of its holdings in a month while buying five to ten times more in the same period.

“You don’t want to be a net seller of bitcoin because bitcoin is capital. You want to end every year with more bitcoin than you started the year,” Saylor said.

Phong Le Says Strategy Would Sell BTC Only if It Improves BTC-Per-Share

Strategy chief executive Phong Le provided the clearest signal yet on when the company would actually sell. In a CNBC interview on Friday, Le said Strategy would consider selling Bitcoin to fund STRC dividend payments when it is more accretive to common shareholders on a Bitcoin-per-share basis than selling equity.

“I believe in math over ideology,” Le said. “And at the point where selling bitcoin versus selling equity to pay a dividend is better for our bitcoin-per-share, and for our common shareholders, we will do it.”

STRC is a perpetual preferred share designed to trade near $100 while paying a variable monthly dividend that is currently running at roughly 11.5% annualized. During last week’s earnings call, Michael Saylor said the company has the flexibility to pause common stock sales and fund dividends through Bitcoin sales while still growing its total holdings.

Strategy Holds 818,334 BTC as JPMorgan Estimates $30 Billion in Annual Buying

Strategy currently holds 818,334 BTC, worth roughly $66.2 billion at current prices. JPMorgan analysts said last week that the company’s Bitcoin purchases could reach approximately $30 billion this year if the current pace continues.

Saylor posted “Back to work. BTC.” on X on Sunday, a type of post that traders often watch for signs of another weekly purchase update.

Le Says Strategy’s Software Business Is Growing Again, Led by AI Push

Le also used the weekend to push back against the characterization of Strategy as purely a Bitcoin treasury company. In an X post on Sunday, he said the first quarter of 2026 was the strongest for the software business in the past decade, with revenue rising 12%.

Le highlighted an AI data product called Mosaic, which he described as an AI-driven semantic layer for enterprise data. He said the company is rebuilding internal processes using multiple AI models and expects to automate core workflows over the next year. Strategy shares closed up 4.31% at $187.59 on Friday. The stock has gained 41.7% over the past month but remains down 18.9% over the past six months.