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Strategy resumed its Bitcoin purchases, acquiring 535 BTC for $43 million, while Chairman Michael Saylor emphasized the importance of never being a net seller. The firm maintains a break-even issuance rate of 2.3%, allowing it to sell BTC for dividends without losing its net buying status.
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Strategy has acquired 535 BTC for ~$43.0 million at ~$80,340 per bitcoin and has achieved BTC Yield of 9.4% YTD 2026. As of 5/10/2026, we hodl 818,869 $BTC acquired for ~$61.86 billion at ~$75,540 per bitcoin. $MSTR $STRC
— Michael Saylor (@saylor) May 11, 2026 Saylor’s comments followed Strategy's earnings call last week, during which the company disclosed it has the flexibility to pause sales of its MSTR common stock and instead cover STRC dividend obligations through Bitcoin sales. STRC is Strategy's perpetual preferred stock that pays a quarterly cash dividend and has become one of the most liquid preferred instruments in U.S. markets. STRC’s effective annual yield hovers around 11.5%, according to the company’s .
Michael Saylor stated that while he believes in never being a net seller of Bitcoin, selling BTC for dividends is acceptable if it benefits the company's Bitcoin-per-share.
Strategy purchased 535 BTC for approximately $43 million, averaging about $80,340 per Bitcoin.
Strategy's break-even issuance rate is set at 2.3%, which allows the firm to remain a net buyer of Bitcoin even while selling some for dividends.
Experts believe that any potential sale by Strategy is unlikely to cause significant market disruption, as responsible treasury management could enhance institutional confidence.

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Strategy sold $3.2 billion in STRC in April alone, deploying those proceeds into Bitcoin purchases. The quarterly dividend on that issuance runs approximately $80 to $90 million, implying a buy-to-sell ratio of roughly 30-to-1 in any month where the company must raise cash for dividends. Saylor put the firm's break-even issuance rate, the point at which it remains a net Bitcoin buyer even while selling BTC to service dividends, at 2.3% of holdings annually. With current issuance running between 15% and 20%, the math consistently favors accumulation, he said. JPMorgan analysts estimate Strategy's Bitcoin purchases could total $30 billion this year at the current pace. Strategy CEO Phong Le reinforced the position on Friday, framing the question as “math over ideology” Le argued that, “At the point where selling Bitcoin versus selling equity to pay a dividend is better for our bitcoin-per-share, we will do it.” Gold advocate Peter Schiff tweeted in response that Saylor had “admitted MSTR would sell Bitcoin if needed,” calling the arrangement necessary to sustain what he called a Ponzi scheme. “Peter thinks Bitcoin's a Ponzi scheme,” Saylor said, adding that Schiff “is not really a lover of anything in this space.”
Speaking to *Decrypt*, experts downplayed the likelihood of a market shock from any potential Strategy sale. Andrew Webley, founder and CEO of UK Bitcoin treasury firm Smarter Web Company, argued that responsible treasury management could actually strengthen institutional confidence. “It demonstrates that Bitcoin treasury companies are evolving into durable financial structures rather than ideological vehicles,” he told *Decrypt*. Comments alone are unlikely to move Bitcoin's price direction, with macro liquidity, ETF flows, and risk sentiment remaining the primary drivers, Georgii Verbitskii, derivatives trader and founder of TYMIO, told *Decrypt*. “If MicroStrategy were to sell some Bitcoin, the initial reaction would probably be negative from a psychological standpoint,” he said. “But unless the scale of selling is very large, I don't think it would structurally change the market.” Bitcoin is currently trading at around $81,200, down slightly from last week’s high of $82,496, according to CoinGecko data. Despite the short-term pullback, users on prediction market Myriad, owned by *Decrypt's* parent company Dastan, remain optimistic, assigning an 88% chance that the leading crypto’s next major move is a rally to $84,000.