🔥 BULLISH: “Market winter is actually a better time to focus on building steadily. The people who stay are driven by long-term conviction and won’t be thrown off by short-term market fluctuations.” - CZ
After years of pushing the “never sell” strategy, Saylor now says Strategy may sell BTC if needed to improve “Bitcoin per share” or manage obligations.
The company currently holds 818,334 BTC worth over $64 billion, around 4% of the total Bitcoin supply.
This shift comes after Strategy (MSTR) reported a Q1 2026 net loss of approximately $12.54 billion to $12.77 billion, driven by a $14.46 billion unrealized loss on Bitcoin holdings as prices dropped.
The company also has roughly $1.5 billion in annual dividend obligations tied to its preferred stock products.
According to CEO Phong Le, selling BTC is now something they would consider if it helps the company financially or improves shareholder exposure over time.
Michael Saylor compared the model to a real estate company: Buy assets, let them appreciate, and sell part of them when needed to support operations or reduce pressure.
This is important because Strategy has been one of the biggest sources of corporate Bitcoin demand for years.
The company bought aggressively during market weakness and became the largest public holder of BTC.
Now the market is trying to understand something new...
What happens when the biggest corporate Bitcoin buyer also becomes a potential seller?