Shares of MicroStrategy experienced a setback following comments made by executive chairman Michael Saylor, who indicated that the company might sell some of its Bitcoin holdings to fund future dividend payments. During a recent earnings call, Saylor remarked, “We will probably sell some Bitcoin to pay a dividend just to inoculate the market and send the message that we did it.” This statement signifies a notable departure from the company’s previous commitment to never sell its Bitcoin assets.
Saylor elaborated on the strategy, which involves leveraging credit to acquire Bitcoin, then allowing it to appreciate in value before liquidating a portion when necessary for dividends. “You buy Bitcoin with credit, you let it appreciate, and then you sell Bitcoin to pay the dividend,” he explained, underlining a strategic pivot for the firm, which recently reported a staggering $12.54 billion net loss for the first quarter of 2026.
In a parallel conversation, CEO Phong Le reiterated that the firm would assess selling Bitcoin when it is beneficial for the company. Although MicroStrategy aims to continue being a net aggregator of Bitcoin, Le indicated a more flexible approach going forward. “Our ability to sell Bitcoin, either to buy U.S. dollars or to retire debt if it’s accretive to Bitcoin per share, is something we would consider,” he noted, challenging the notion that the company would adopt a rigid stance of never selling its Bitcoin assets.
On Tuesday, MicroStrategy’s stock (MSTR) initially closed up 1.69% at $186.90, but after-hours trading reflected a more than 4% decline as investors reacted to the announcements. The company currently holds 818,334 BTC at an average acquisition price of about $75,537 per Bitcoin, making it the largest publicly traded corporate holder of the cryptocurrency. Recent data from Polymarket traders suggests a 48% probability that MicroStrategy may sell part of its Bitcoin holdings by the end of 2026.
As developments unfold, investors are advised to monitor updates regarding MicroStrategy’s strategy and performance, as these decisions could significantly influence the company’s positioning in the market.
