Strategy Chairman Michael Saylor said the company will buy far more bitcoin (BTC) than it sells, as it considers tapping its bitcoin holdings to fund dividends for its STRC perpetual preferred stock program.
In multiple interviews released over the weekend, Saylor said that while the company may occasionally sell a portion of its bitcoin holdings, any such sales would be quickly outpaced by new purchases.
"In these periods, even if we were to sell one bitcoin, we'd be buying 10 to 20 more bitcoin," Saylor said in a podcast interview. "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."
"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," he added.
The comments followed Strategy's earnings call last week, during which Saylor said the firm has the flexibility to pause sales of MSTR common stock and fund dividends through bitcoin sales — while still increasing its overall BTC holdings.
Saylor had indicated that the company is now open to using part of its bitcoin reserves as a financial tool for its STRC program, rather than treating them as entirely untouchable.
When to sell?
In a separate interview with CNBC on Friday, Strategy CEO Phong Le said the company would consider selling bitcoin to fund STRC dividend payments when doing so is "more accretive to our shareholders," specifically with bitcoin-per-share.
"I believe in math over ideology," said Le. "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."
Meanwhile, Saylor posted Sunday on X: "Back to work. BTC." Similar weekend posts have historically preceded new bitcoin purchases the following week.
The company currently holds 818,334 BTC, worth roughly $66.2 billion. JPMorgan analysts said last week that Strategy's bitcoin buying could reach around $30 billion this year if the current pace continues.
Software business
Also on Sunday, Le said that Strategy's success is rooted in "more than bitcoin" on its balance sheet, pointing to growing momentum in its software and AI business.
"I'm sometimes asked why a bitcoin treasury company should also operate a software business. The two create powerful and unique synergies," Le wrote in a post on X.
According to the CEO, the first quarter of 2026 marked the "strongest" quarter for the company's software business in the past decade, with revenue rising 12%.
Le said that the company has built an AI data foundation, named "Mosaic," which provides an AI-driven semantic layer for enterprise data, with AI Agents envisioned as the ultimate end users.
"We are also rebuilding many of our internal processes and systems from the ground up using multiple AI models," Le added. "Over the next year, I expect we will automate many core workflows and replace much of our internal enterprise software."
Strategy's Nasdaq-listed shares (MSTR) closed up 4.31% at $187.59. The stock has gained 41.7% over the past month, though it remains down 18.9% over the past six months.