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- Strategy bought 535 Bitcoin for $43 million, raising total holdings to 818,869 BTC.
- Saylor said any Bitcoin sale would be tactical, while Strategy remains a net buyer.
- STRC dividends may require limited Bitcoin sales without diluting MSTR common holders.
Strategy bought 535 Bitcoin for about $43 million during the latest reporting week, lifting its total holdings to 818,869 BTC. The company disclosed the purchase on Monday as Michael Saylor again highlighted its Bitcoin-per-share tracking chart on X this week.
The latest acquisition kept the company on its Bitcoin-focused treasury path. Strategy said its total Bitcoin stack was acquired at an average cost basis of $75,540 per coin.
At current market prices, the holdings were valued near $66.5 billion. That amount represents almost 3.9% of the total Bitcoin supply that will ever exist.
Strategy Clarifies Bitcoin Sale Plan After Earnings Call
The purchase came days after Strategy’s first-quarter 2026 earnings call. During that call, the company leaders answered market queries regarding whether Bitcoin sales could ever be a part of the balance-sheet management.
Saylor said on the May 5 call that it might sell some Bitcoins to pay for a dividend. He said the move would show the market that the company could do it if needed.
The comment garnered attention because Saylor has been a strong advocate of a “never sell your Bitcoin” philosophy for a long time. He later clarified in a podcast interview that any sale would be tactical, not a change in the company’s main accumulation policy.
Saylor said Strategy would remain a net buyer even if it sold a small amount. He stated that if the company sold one Bitcoin, it would be buying 10 to 20 more Bitcoin.
In another interview, Saylor said the long-term structure is buying 30 Bitcoins and selling one Bitcoin. He also claimed that the break-even point was around the 2.3% annual appreciation of Bitcoin.
Also Read: Saylor Signals Bitcoin Buying Return After Q1 Earnings Call
That calculation connected to Bitcoin’s history of returns by the company. The number still was less than a range of 30% to 40% it had averaged in the past, Saylor said.
Strategy CEO Details Bitcoin Sale Use Cases
During the earnings call, CEO Phong Le also discussed the matter. “Bitcoin sales are going to occur only in certain instances such as dividend funding, tax deferral or when there is an increase in Bitcoin per share,” he said.
Le indicated that he believed that buying or selling should not have a “material impact” on Bitcoin’s market price. He referred to Strategy’s control of about 4% of the total supply of BTC.
The company’s STRC program was also discussed. STRC is Strategy’s Perpetual Stretch Preferred Stock (Class A) with an annual dividend yield of approximately 11.5%.
The company has about $8.5 billion in STRC outstanding after raising $3.2 billion in April 2026. That structure creates monthly dividend obligations of about $80 million to $90 million for preferred shareholders.
Bitcoin sales might be used to fund those dividend payments, which would help lower the common equity issuance. The source text used that as an argument, as it is a means to not dilute the common shareholders of MSTR.
Nevertheless, the company’s latest acquisition demonstrated that the predominant activity is accumulation. Strategy also added Bitcoin and discussed how he would be able to fit small, calculated sales into its treasury for the time being.
