Saylor's Strategy Contemplates BTC Sales to Fund Swelling Dividend Obligations

1 hour ago 2

Jack Inabinet

Wed, May 6, 2026 astatine 12:40 PM CDT 2 min read

During Strategy's Q1 2026 net call, Executive Chair Michael Saylor floated the anticipation of selling a information of its BTC holdings to money the company's swelling dividend obligations.

What's the Scoop?

Potential Sales: Contrary to Michael Saylor's longstanding "never sell" your BTC proposal (the Strategy laminitis went arsenic acold to counsel that acolytes merchantability their kidneys earlier selling BTC), his integer plus treasury comapny whitethorn bash conscionable that to money its expanding dividend obligations related to STRC, a “perpetual preferred stock” that presently pays its holders 11.5% yearly dividends. During Strategy's Q1 2026 net telephone past night, Saylor hinted astatine the possibility, saying, "We volition astir apt merchantability immoderate bitcoin to wage a dividend conscionable to inoculate the marketplace and nonstop the connection that we did it."
Accretive Sales: CEO Phong Le reiterated the message, claiming that Strategy actively negociate the equilibrium expanse to maximize worth of bitcoin per share. "We’re not going to beryllium backmost and conscionable say, 'We'll ne'er merchantability the bitcoin.' We privation to beryllium nett aggregators of bitcoin – expanding our full bitcoin, but much importantly, expanding our bitcoin per stock due to the fact that we deliberation that is what is going to beryllium astir accretive agelong word for MSTR," Phong said.
Dividend Pressure: Strategy has committed to making astir $1.5B successful yearly dividend and involvement payments crossed assorted categories of preferred equity and enslaved holders, with astir two-thirds owed to holders of its STRC instrument. The BTC DATco has conscionable 18 months of dividend sum fixed existent currency reserves, but could widen its runway to astir 45 years by selling BTC holdings (assuming the token's terms holds constant).
Stock Drop: MSTR tumbled 5.5% successful after-hours trading pursuing the net merchandise but aboriginal clawed backmost astir of the losses, stabilizing astir 1% beneath the yesterday's adjacent astatine the clip of publication. STRC has failed to commercialized its $100 liquidation threshold since April 14, a cardinal level astatine which Strategy tin merchantability the instrumentality for cash.