Michael Saylor has responded to criticism over Strategy’s recent Bitcoin sale, making it clear that the company’s long-term commitment to Bitcoin has not changed.
Speaking at BTC Prague on June 11, Saylor addressed concerns after Strategy sold 32 Bitcoin for about $2.5 million between May 26 and May 31. The sale was the company’s first publicly disclosed Bitcoin sale since December 2022 and sparked debate because Saylor has spent years promoting the idea of never selling Bitcoin.
Responding to the criticism, Saylor said, “I said to YOU never sell your bitcoin,” drawing a distinction between advice for individual investors and decisions made by a corporation managing its finances.
According to Strategy’s June 1 filing, the Bitcoin sale was made to help fund upcoming dividend payments for the company’s preferred shareholders. Strategy has several preferred stock programs, including STRF, STRC, STRE, STRK, and STRD, all of which require regular cash dividend payments. The STRC series currently carries an annual dividend rate of 11.5%.
While the sale attracted significant attention, it represented only a tiny fraction of Strategy’s Bitcoin holdings. At the time, the 32 BTC sold accounted for less than 0.004% of the company’s total Bitcoin reserves.
Soon after the sale, Strategy returned to buying Bitcoin. Between June 1 and June 7, the company purchased an additional 1,550 BTC for approximately $101.3 million, paying an average price of $65,332 per coin.
The purchase was nearly 50 times larger than the amount sold and helped reassure investors that Strategy remains focused on accumulating Bitcoin. The company also increased its cash reserves from $900 million to $1 billion during the same period.
Following the latest purchase, Strategy now holds 845,256 Bitcoin, making it by far the largest publicly traded corporate holder of Bitcoin in the world. The company’s average purchase price across all its holdings stands at around $75,680 per Bitcoin.
The recent discussion has shifted attention toward how Strategy plans to meet future financial obligations. Since preferred stock dividends require regular cash payments, investors are watching closely to see whether the company relies on cash reserves, raises capital through financial markets, or occasionally sells small amounts of Bitcoin when needed.
For now, the numbers suggest Strategy remains a strong net buyer of Bitcoin. However, the sale has sparked a broader conversation about how the company balances its “never sell” message with the practical realities of managing a large corporate treasury.
With the next dividend payment scheduled for June 30, investors will be paying close attention to Strategy’s next move and how it plans to fund future obligations while continuing its Bitcoin accumulation strategy.
