Saylor Built a $75K BTC Treasury. Now He's Liquidating It to Pay Early Investors

[Alpen]

32÷840,000= 0.00003809

That is not liqudation of his coins.


I believe in free speech so I say your title is anti btc  lying garbage.

Come back when he sells 100,000 btc and I would consider value to the title.

I am not questioning your freedom of speech, but at the end of the day, we are all here to make money from investing in Bitcoin. You can see the market's reaction to Saylor's actions for yourself—the numbers don't lie.

[Alpen]

It might not be just Strategy's dump that trigger this drop. The news of Mt. Gox moving 10,422.65 bitcoin worth about $739 million to new wallets a few days ago might have also contributed to the drop. The defunct exchange has until October 31, this year to complete creditor repayments. Michael Saylor's position of not selling Bitcoin might have created a shock in the market after the small sell.

As far as I remember, Strategy is scheduled to hold a vote on the payout schedule for preferred shareholders. The dividends are expected to be paid out monthly, quarterly, and annually. The vote takes place on June 8, and Bitcoin is sliding partly in response to this news. Saylor will have to liquidate portions of his fund every single month. This is actually worse than the Mt. Gox repayments.

[JeffBrad12]

It might not be just Strategy's dump that trigger this drop. The news of Mt. Gox moving 10,422.65 bitcoin worth about $739 million to new wallets a few days ago might have also contributed to the drop. The defunct exchange has until October 31, this year to complete creditor repayments. Michael Saylor's position of not selling Bitcoin might have created a shock in the market after the small sell.

As far as I remember, Strategy is scheduled to hold a vote on the payout schedule for preferred shareholders. The dividends are expected to be paid out monthly, quarterly, and annually. The vote takes place on June 8, and Bitcoin is sliding partly in response to this news. Saylor will have to liquidate portions of his fund every single month. This is actually worse than the Mt. Gox repayments.

Is it it really true Saylor need to liquidate it? I think they have 6 months runway to keep things running and pay dividend with cash they currently have. Next vote is highly plausible they will increase dividend and do the dividend distribution twice monthly.
If until the ex div date cut off price aren't repegging to $100 they are likely to pay more dividend. The cascading disaster will only happen once they run out of cash to pay up the dividends and nobody is buying their preferred stock, which isn't now.
To me, current dump isn't because pricing in the possibility of saylor liquidating his BTC, but bitcoin following the cyclical pattern.

[fuguebtc]

It might not be just Strategy's dump that trigger this drop. The news of Mt. Gox moving 10,422.65 bitcoin worth about $739 million to new wallets a few days ago might have also contributed to the drop. The defunct exchange has until October 31, this year to complete creditor repayments. Michael Saylor's position of not selling Bitcoin might have created a shock in the market after the small sell.

As far as I remember, Strategy is scheduled to hold a vote on the payout schedule for preferred shareholders. The dividends are expected to be paid out monthly, quarterly, and annually. The vote takes place on June 8, and Bitcoin is sliding partly in response to this news. Saylor will have to liquidate portions of his fund every single month. This is actually worse than the Mt. Gox repayments.

Is it it really true Saylor need to liquidate it? I think they have 6 months runway to keep things running and pay dividend with cash they currently have. Next vote is highly plausible they will increase dividend and do the dividend distribution twice monthly.
If until the ex div date cut off price aren't repegging to $100 they are likely to pay more dividend. The cascading disaster will only happen once they run out of cash to pay up the dividends and nobody is buying their preferred stock, which isn't now.
To me, current dump isn't because pricing in the possibility of saylor liquidating his BTC, but bitcoin following the cyclical pattern.

If they truly had enough cash on hand, what was the reason behind their recent decision to sell 32BTC? While Saylor has always stated that he will never sell.

If they really had enough money to cover dividend payments for the next 6 month. Why are they holding a vote on the dividend payment schedule for preferred shareholder?

Strategy is facing significant challenges as both Bitcoin and their stock have declined sharply. Selling some Bitcoin is seen as the best option they can take at this point.


Regardless of what caused Bitcoin to decline, I predict it will fall even further. And I like that.

[asriloni]

So true. It's interesting to see what's gonna happen to him in the coming months. Currently, he has around 900m USD reserve, however, he will have to let 172m go away to pay all of his responsibility at the end of this month. So 900 may only help to cover around 5 - 6 months.

His room to raise more money is just getting smaller with how his stocks are always performing badly right now. So he has Bitcoin as his least solution to raise money urgently in order to pay dividends.

This is why i think this is very entertaining to watch. Currently, a defi called Apyfi and Saturn have their stable depegged cuz those defi used STRC to back their stable coin. I believe if his stock won't perform well in monday due to the dividend payday, another red day is coming.

[GreatArkansas]

I'm curious if all people will see their stocks? Like investors will ask to sell some of their stocks, Saylor for sure will have no choice but to sell, right?
This could be huge problem not only for MicroStrategy, but also in the entire Bitcoin market. But still, on this current price of Bitcoin, I rather buy than sell.

[barbara44]

32 is a small number when viewed in the context of the total holdings. When Bitcoin’s price dropped by 10% over two days, in connection with Saylor’s sale of 32 Bitcoin to pay dividends to special-class shareholders, I don’t think it had anything to do with the decline because, from the sales figures I’ve seen, the volume was still much higher than the buying volume.

Perhaps this is meant to address the market’s current status—whether it’s bearish or bullish. If it’s still at $60K, the market isn’t bearish yet.
Some analysts estimate that the lowest point is still expected in September–October, as highlighted by @DrProfitCrypto in his X post.

10 percent drop on BTC's value in fact looks huge already but as you said, that 32 BTC is only small. Not that it had nothing to do with the decline. It had some contributions on it though but it is only small. Any action done do always has a reaction in the market. Some are obvious but it is still up to us if what we think.

That means we can also oppose to the opinion of the majority. Maybe some events are also artificial, for the people to cut the debate for a while. Usually the 'ber' months are where things are going to be crucial. For the bull times, this is where it starts but for the bear one, this may also be the time where it becomes serious.

[JeffBrad12]

If they truly had enough cash on hand, what was the reason behind their recent decision to sell 32BTC? While Saylor has always stated that he will never sell.

If they really had enough money to cover dividend payments for the next 6 month. Why are they holding a vote on the dividend payment schedule for preferred shareholder?

Strategy is facing significant challenges as both Bitcoin and their stock have declined sharply. Selling some Bitcoin is seen as the best option they can take at this point.


Regardless of what caused Bitcoin to decline, I predict it will fall even further. And I like that.

32 BTC is small amount, he pays dividend monthly about 100 million, around $1 each share and for $10.5 billion preferred stock outstanding principal notional value. Only covers not even 2% of the monthly dividend payout.
I don't know why he's doing that but that 32 BTC isn't because they can't pay dividend.

[OgNasty]

He posted today that he made another Bitcoin buy. I’m curious where the money is coming from for this. STRC is trading at a huge discount and he’s underwater on his holdings. So did he blow the rest of his cash holdings or do a dilutive stock offering? I guess we’ll find out how bad the situation has gotten tomorrow…

[dezoel]

It is not Saylor selling that dropped the market, it is not even market reacting to it, while that is some part of it, that's not the whole of it. Look at stock market and gold and you will see that every market is down right now, it is not just bitcoin.

The markets all around the world crashing and the same is happening to bitcoin as well, nothing that difficult to understand. People are turning towards cash, because recession is coming and that means cash will be the king again.

[fuguebtc]

32 BTC is small amount, he pays dividend monthly about 100 million, around $1 each share and for $10.5 billion preferred stock outstanding principal notional value. Only covers not even 2% of the monthly dividend payout.
I don't know why he's doing that but that 32 BTC isn't because they can't pay dividend.

I know, 32 BTC is a very small amount of money for them. I am not entirely clear about Strategy’s monthly dividend payment. But they themselves have acknowledged that the proceeds from selling 32BTC will be used to pay dividends on their preferred shares. They made this clear in their 8-K filing submitted to the SEC on June 1, 2026.

Additionally, they also announced the sale of $128M worth of their own common stock through an at the market offering program.


When a company has to sell both Bitcoin and its own stock at the same time, it is a clear sign that they are facing financial difficulties.


https://finance.yahoo.com/markets/crypto/articles/saylor-said-never-sell-bitcoin-072246210.html

https://www.sec.gov/Archives/edgar/data/1050446/000119312526249768/mstr-20260530.htm

[Synchronice]

I really wish Bitcoin holders were more stable and wouldn't panic every single second. Yes, 32 Bitcoin is small and it couldn't affect the market because Bitcoins, worth billions of dollars are traded every day, so 32 is a drop in the ocean but the real reason is that the largest Bitcoin holder company made its first sell of the Bitcoin, so it created a panic among people but I can't blame Saylor for that, Bitcoin's price is falling too much and there is no positive sign. If he buys back those coins, he makes a profit.
Anyways, we shouldn't blame someone for the price. Did Saylor say he would never sell Bitcoins but still sold? It's his job, even if he affected my financial situation, I can't blame him because he did what was good for him and we all know that this market is driven by big guys and their words and actions have a huge impact.

I would say it was just a test, to see what happens, not the goal of selling 32 bitcoins, but the idea he had was to see what happens when he sells. And he realized he crashes the market, and not like he can secretly sell them, he could sell them publicly very quickly before anyone realizes, but he can't secretly do it, because he is a public company.

But the sad thing is that, people will crash it, so he can't sell that much bitcoin, the entire portfolio he has, without bankrupting bitcoin for a moment. We will recover, it would be actually better not to have a big whale like that, but it will not be easy to recover and will take time and he will have to sell a lot lower than the market to be able to sell all of it.

The funny thing is, MicroStrategy holds so much Bitcoins and the sell probably resulted in a significant decline of Bitcoin's price (I said probably because I can't confidently say whether his sell made the price decline or not), which means that MicroStrategy lost millions of dollars actually because of such a significant drop in price.

He will never sell all of it, that will be impossible at once and especially at the price he will be willing to sell. The sad thing is if people really reacted to his sell and the market crashed for that reason. It's sad because Bitcoin holders should be more mature these days and the coin's price shouldn't be manipulated extremely easily.

[tabas]

He will never sell all of it, that will be impossible at once and especially at the price he will be willing to sell. The sad thing is if people really reacted to his sell and the market crashed for that reason. It's sad because Bitcoin holders should be more mature these days and the coin's price shouldn't be manipulated extremely easily.

I agree that it will be unlikely that they're going to sell all at once or dump it all at once. Because they just can't and it will be too much for whoever is going to buy it whether they'd sell it OTC or directly through exchanges. If he keeps his words telling they are never going to sell. We've seen how they've sold some of it so it's likely that there will be some potential sell offs that might happen in the future if it needs to be done by them. They won't doubt to do it because at the same time they can influence the price and understands their power to affect it which could make them sell and buy back.

[BigTarget]

I would say with the way market is going, he is going to regret selling more and more. Or after he already paid the dividends, he is about to get as much cash as he could, maybe even loan, to buy more when it is down right now.

After all, he isn't just some company that buys bitcoin, it is a SAAS company and they do make money, and the way they are doing fine right now is mainly because they get capital from investors to get bitcoin, and the software makes income to pay for those investors in return.