Saylor Speaks Out Following Strategy’s Bitcoin Sale

June 1, 2026

associate with an upcoming bitcoin purchase disclosure, he did not follow with a BTC acquisition announcement. Instead, the sale became public through the SEC filing. Strategy also did not separately disclose the transaction on social media.

Hours later, Saylor’s only public response was a post promoting STRC, Strategy’s Variable Rate Series A Perpetual Stretch Preferred Stock, without mentioning the bitcoin sale. Saylor said that their goal is to make STRC the best credit instrument globally. Bitcoin was trading near $71,500 after Strategy disclosed the sale, which left BTC below its 2026 high near $97,939 but above its February low close to $59,930.

Saylor’s post about STRC shifted attention from the sale to a Strategy chart comparing Sharpe ratios across credit and bond instruments. The Sharpe ratio measures risk-adjusted return, with Strategy listing STRC at 1.59, ahead of high-yield bond ETFs like JNK at 0.64 and HYG at 0.56. This sale was the first time Strategy sold bitcoin since 2022 after actively accumulating the asset and incorporating a BTC treasury strategy into its corporate identity.

Despite holding 843,706 BTC as of May 31, valued by an aggregate purchase price of $63.87 billion, even a small sale drew attention. Strategy also reported a $900 million U.S. dollar reserve to support preferred dividends and debt interest, putting dividend coverage at the heart of its bitcoin-backed capital stratagem.

Strategy maintained STRC’s annual dividend rate at 11.50% for monthly periods starting June 1, along with declaring a $0.958333333 cash dividend per STRC share for June. Other preferred securities received quarterly dividends, including STRF, Strategy’s 10.00% Series A Perpetual Strife Preferred Stock; STRK, its 8.00% Series A Perpetual Strike Preferred Stock; STRD, its 10.00% Series A Perpetual Stride Preferred Stock; and STRE, its 10.00% Series A Perpetual Stream Preferred Stock. During the same period, the company sold 801,994 shares of MSTR common stock, generating $128.3 million in net proceeds.

Strategy reported significant remaining ATM capacity across MSTR and preferred programs, including $17.51 billion available for STRC issuance. This capacity offered Strategy more funding options while keeping investors focused on dilution, dividend coverage, and the potential for BTC sales to become part of the company’s operative model.

The sale renewed focus on Saylor’s previous statements about holding bitcoin, where he advised, “Never sell your bitcoin” on X in February 2025. Divergence emerged after Strategy disclosed the sale, highlighting the contrast between Saylor’s widely shared advice and the company’s decision to sell part of its BTC holdings to fund preferred stock distributions. Amid speculation, observers saw a 411 BTC transfer to Coinbase Prime, which bolstered Polymarket odds on a 2026 Strategy bitcoin sale. Speculation heightened around whether Strategy could sell more BTC to support its expanding preferred securities stack.

Past remarks from Saylor and CEO Phong Le had already underscored dividend funding, USD reserves, and BTC liquidity as critical aspects of the treasury discussion. The primary question now is whether income obligations can coexist with Strategy’s ongoing bitcoin accumulation strategy.