Michael Saylor says a Strategy Bitcoin sale before year-end is ‘not unlikely’ in a Coin Stories podcast interview.
Summary
- Saylor told Natalie Brunell it was “not unlikely” Strategy would sell some Bitcoin before year-end, softening his long-held never-sell position.
- He said any model relying solely on equity, credit, or Bitcoin sales underperforms, and that Strategy uses a mixed capital management approach.
- Strategy holds 818,334 BTC worth approximately $65 billion and aims to maximise Bitcoin per share over a seven-year horizon to 2033.
Strategy executive chairman Michael Saylor told the Coin Stories podcast it was “not unlikely” the company would sell some Bitcoin before year-end. The comment softens his long-standing public position that Strategy would never sell.
“I think it’s not unlikely that we’ll sell some Bitcoin between now and the end of the year,” Saylor said. “Any model that we put together that’s limited only to equity or only to credit or only to Bitcoin always underperforms.”
Why Saylor says Strategy might sell Bitcoin in 2026
The comments follow Strategy’s Q1 earnings call, where Saylor said the company raised the possibility of selling Bitcoin to fund dividends, saying it would “inoculate the market.” Crypto.news has reported on that call and the $12.54 billion Q1 net loss that preceded it.
Saylor described Strategy’s capital management as programmatic and data-driven, with liabilities evaluated against a mix of cash, equity, credit and Bitcoin. Strategy holds 818,334 BTC acquired for approximately $61.6 billion at an average price of $75,527.
Saylor also confirmed Strategy does not plan to retire its STRF, STRD, and STRK preferred products, calling them useful parts of the capital structure while convertible bonds remain senior liabilities to be retired over time.
What a Strategy Bitcoin sale would mean for markets
Saylor said any sale would be small relative to Bitcoin’s daily market liquidity, estimated at $20 to $50 billion. He argued Strategy could buy roughly 20 Bitcoin for every one sold if dividends were fully funded through BTC sales.
Crypto.news has noted Saylor’s framing of Strategy’s three-layer capital structure, with Bitcoin as digital capital, STRC as digital credit, and MSTR as leveraged equity. The firm’s seven-year goal is to maximise Bitcoin per share by 2033.
Saylor said this long-term lens makes 2026 Bitcoin sales a capital allocation decision, not a reversal of conviction.
