Michael Saylor, executive chairman of Bitcoin treasury company Strategy, said the firm will remain a heavy net buyer of Bitcoin even if it sells part of its holdings to fund dividends tied to its Stretch (STRC) preferred stock programme.
Strategy Aiming to Buy '10 to 20' Bitcoin for Every BTC Sold, Saylor Says
11 May 2026 - 12:58 CEST
By Sandmark staff
Speaking in an 8 May podcast interview with David Lin, Saylor said Strategy could buy "10 to 20 more Bitcoin" for every BTC sold, seeking to calm market concerns after the company recently moved away from its long-standing 'never-sell' stance.
Internet went crazy
"I'm very famous for saying 'never sell your bitcoin,' and that's why the internet went crazy when we said we might sell it," Saylor said, referring to Strategy's 5 May earnings call, where the company said it may sell Bitcoin to fund dividends for Stretch (STRC), its yield-bearing preferred stock instrument. "If I was being more precise, I'd say never be a net seller of Bitcoin."
The company, as long as it grows, is going to buy more bitcoin than it sells, Saylor said. "I expect we'll be a net buyer of Bitcoin in every month and every quarter going on forever."
Not a Ponzi scheme
He noted there are "trolls on the internet" who complain that Strategy runs a Ponzi scheme by selling equity in order to fund a preferred dividend. However, Strategy sold $3.2bn of STRC in April, and bought $3.2bn of Bitcoin. Meanwhile, the dividend to be paid on STRC is about $80-90mn, he added.
Strategy currently holds 818,334 BTC. STRC pays monthly cash dividends of about 11.5%. Saylor also said Strategy wants credit markets and ratings agencies to recognise its Bitcoin holdings as usable balance-sheet assets, not dormant reserves with "zero dollars of value."
