Michael Saylor's Strategy signals potential bitcoin sale to fund dividends oblig

[Oshosondy]

Strategy Would Sell Bitcoin Only if Stock Drops Below NAV, Says CEO


The Strategy CEO, Phong Le has talked more about when the company can sell bitcoin instead of buying. He said Strategy would consider selling bitcoin holdings only if its stock drops below net asset value while losing access to fresh capital.

https://coinmarketcap.com/academy/article/strategy-would-sell-bitcoin-only-if-stock-drops-below-nav-says-ceo

We should expect Strategy to buy more bitcoin if the price of bitcoin price continues to increase because that will also proportionally means their stock price would have increased.

[AakZaki]

It looks like MSTR will buy Bitcoin again tomorrow, given its twett at the X they used to do the day before buying. The last time MSTR bought Bitcoin on April 27, 2026 was 3273 BTC. the day before on April 26, 2026 they made a tweet on X saying "The Best Goes On" and then on April 27 he bought it.

MSTR usually buys Bitcoin on Monday, which means tomorrow. while the indication that they want to buy is also uploaded, earlier they said "Back to work $BTC" well hopefully it can push the price higher and quickly change the cycle from bearish to bullish.

[dezoel]

Strategy Would Sell Bitcoin Only if Stock Drops Below NAV, Says CEO


The Strategy CEO, Phong Le has talked more about when the company can sell bitcoin instead of buying. He said Strategy would consider selling bitcoin holdings only if its stock drops below net asset value while losing access to fresh capital.

https://coinmarketcap.com/academy/article/strategy-would-sell-bitcoin-only-if-stock-drops-below-nav-says-ceo

We should expect Strategy to buy more bitcoin if the price of bitcoin price continues to increase because that will also proportionally means their stock price would have increased.

This is true, they are not really in need of selling, and it would require the price of bitcoin to drop HUGE before they need to sell, considering we are not dropping that badly, and we are still above what on average this company paid for it, we can safely say that they are not in trouble right now.

Of course they would rather buy when it goes down instead of sell, but if it goes down under net value, they have to pay their debt in order to not go solvent, so they are forced to, but if that does not happen and price stays around here, or even go up, then they will be fine.

[Don Pedro Dinero]

Strategy Would Sell Bitcoin Only if Stock Drops Below NAV, Says CEO


The Strategy CEO, Phong Le has talked more about when the company can sell bitcoin instead of buying. He said Strategy would consider selling bitcoin holdings only if its stock drops below net asset value while losing access to fresh capital.

They need to sort things out between themselves because Saylor isn't saying the same thing:

we can simply sell significantly appreciated Bitcoin to pay dividends, which essentially leverages capital gains to pay credit dividends.

What Lee is saying isn’t new; he already said it last November or December. What is new is what Saylor has said recently, namely that he might sell bitcoin at a profit to pay dividends. A scenario in which the share price falls below net asset value is a bearish scenario, and that is not what Saylor is talking about.

MSTR usually buys Bitcoin on Monday, which means tomorrow.

That's not correct. On Monday they announce last week's purchases.

[AakZaki]

That's not correct. On Monday they announce last week's purchases.

What's not correct, have you seen the Strategy website today?
I'll show you that today the Strategy company bought 535 BTC of Bitcoin at $80,340. Currently their average purchase price is $75,540. Which means their current Bitcoin holdings are 818,869 BTC.


Sources: https://www.strategy.com/purchases

[asriloni]

Three months ago he told CNBC if he would never sell bitcoin, and now he's changing his mind if he could sell his bitcoin. Honestly, it's not something needs to feel worry about. If he sells his bitcoin, it's because he's doing tax loss harvesting. Mine sees it as a very interesting scenario to watch.

It seems his way to overcome the potential tax for his investment. I call it as a smart idea.

[LordShanken]

To understand what's happening at Strategy, you need to look at its structure. It's quite complicated.

Regarding the average purchase price, it's around $75,000, which isn't all that good. But of course, this could change if Saylor's scenario plays out and we have another big bull market.

The reason he's deciding to sell now isn't entirely clear. On the one hand, he has some vague explanation: "he wants to show he won't trigger a crash", but the truth may be different.

As I mentioned at the beginning, it could be about the structure, specifically the dividend payments.
Previously, Saylor and Microstrategy declared they had funds to cover the company's operating costs for 2-3 years. But they kept buying, and it's currently unclear how much of those funds for operating costs are actually left.
However, they have obligations to shareholders and bondholders. They must pay dividends this year. This year, the amount is quite small, but if it is confirmed that it is selling Bitcoin for this purpose, then Microstrategy could be in very big trouble next year, because the dividend obligations for 2027 are much larger than this year.

Either way, any sale of anything from Microstrategy wallets is not a good sign.