Strategy Will Buy 10 To 20 Bitcoin For Every One It Sells

Strategy Chairman Michael Saylor has reaffirmed that his company will remain a committed net buyer of Bitcoin $BTC, pushing back firmly against any suggestion it could become a meaningful seller of the digital asset.

"Even if we were to sell one bitcoin, we'd be buying 10 to 20 more," Saylor said in a weekend podcast interview, as reported by The Block. He framed Bitcoin as capital, not an asset to be liquidated, a distinction he has maintained since the company first began accumulating the cryptocurrency in 2020.

What Prompted the Clarification

The comments follow remarks Saylor made on Strategy's latest earnings call, where he signalled flexibility around limited Bitcoin sales to fund dividends on the company's STRC perpetual preferred stock program. That apparent shift drew attention from investors and analysts. Saylor later told Fortune that his comments about selling Bitcoin were intended to protect his stock from crashing, framing the remarks as a tactical move aimed at short sellers rather than a genuine change in direction.

Saylor's concession that Strategy could sell some of its holdings came amid a broader crypto market downturn that has strained the digital asset treasury model he pioneered. Strategy copycats including Nakamoto, Empery Digital, and Sequans have all sold portions of their Bitcoin stashes and seen their share prices fall.

The Scale of Strategy's Bitcoin Position

Strategy's total holdings stood at 818,334 BTC as of April 26, 2026, acquired for roughly $61.81 billion at an average price of $75,537 per coin. The company is the largest publicly traded corporate holder of Bitcoin.

STRC is Strategy's perpetual preferred stock, currently paying 11.50% annual dividends in monthly cash payments. Launched in late July 2025, the instrument reached more than $8.5 billion in outstanding notional value in under nine months and ranks as one of the largest preferred stock issuances by market capitalisation. Strategy has indicated it may, in the future, sell small amounts of Bitcoin to meet dividend obligations purely as a signalling measure, although current reserves and ongoing issuance have covered all payments to date without such sales.

For now, Saylor's message is unambiguous: any Bitcoin sold will be dwarfed by what the company buys back, and overall holdings will grow year over year.

Sources:
Fortune: Michael Saylor says remarks about selling Bitcoin were intended to jam short-sellers
CoinDesk: Strategy adds $255 million more Bitcoin, holdings reach 818,334 BTC
Strategy: STRC Perpetual Preferred Stock Information