Strategy Signals Return to Bitcoin Buying After Rare Asset Sale
Executive Chairman Michael Saylor signals new acquisitions following a symbolic 32 BTC sale in May.
Strategy’s executive leadership is moving to reaffirm its commitment to a Bitcoin-heavy balance sheet, signaling a potential return to purchasing after the company’s first divestment in years sparked market speculation.
Executive Chairman Michael Saylor suggested on Saturday that the company views current price levels as an entry point, posting his signature “orange dots” acquisition chart on social media with the caption: “A good time to add more dots.” The post has historically preceded official 8-K filings with the U.S. Securities and Exchange Commission (SEC) on the following Monday, confirming new acquisitions made during the previous week.
The signaling follows a period of uncharacteristic activity for the firm. In late May, Strategy sold 32 BTC to meet obligations related to STRC, a class of preferred shares that requires periodic dividend payments. While the sale represented just 0.004% of the company’s total holdings, it marked the first time the firm had reduced its position since 2022, prompting questions about its long-term liquidity strategy.
CEO Phong Le addressed the speculation directly, stating that the corporate goal remains to increase net Bitcoin holdings and Bitcoin-per-share over time. “Rumors to the contrary are just rumors,” Le noted in a message reshared by Saylor.
The company currently holds 843,706 BTC, acquired at an average cost of $75,699 per unit. With Bitcoin trading near $63,000, the firm is carrying approximately $13 billion in unrealized losses. This valuation gap has drawn criticism from skeptics, including economist Peter Schiff, who questioned the sustainability of using cash reserves for new purchases while maintaining dividend commitments to preferred shareholders.
Saylor previously defended the use of minor sales for capital management during a first-quarter earnings call, noting that the firm might sell a single Bitcoin to facilitate the purchase of “10 to 20 more” through various financing mechanisms. The latest executive comments appear designed to frame the May sale as a tactical liquidity move rather than a pivot in institutional policy.
