Bitcoin treasury firm Strategy resumed its BTC purchases this week, as the firm’s chairman Michael Saylor clarified his position after suggesting the company could offload a portion of its holdings to fund dividends. “I’m very famous for saying ‘never sell your Bitcoin.’ That’s…
y the internet went crazy when we said we might sell it,” Saylor said in a podcast interview released over the weekend. “But if I was being more precise: never be a net seller of Bitcoin. It just wouldn’t have been so viral.” Hours after the podcast, Strategy resumed its Bitcoin buys, scooping up 535 BTC for $43 million at an average price of $80,340 per coin, the company announced Monday
The purchase came after the firm paused its BTC buys last week, and brought its total holdings to 818,869 BTC, worth some $61.9 billion. Saylor’s comments followed Strategy’s earnings call last week, during which the company disclosed it has the flexibility to pause sales of its MSTR common stock and instead cover STRC dividend obligations through Bitcoin sales. STRC is Strategy’s perpetual preferred stock that pays a quarterly cash dividend and has become one of the most liquid preferred instruments in U.S. markets.
STRC’s effective annual yield hovers around 11.5%, according to the company’s official statistics. Saylor’s argument Strategy sold $3.2 billion in STRC in April alone, deploying those proceeds into Bitcoin purchases. The quarterly dividend on that issuance runs approximately $80 to $90 million, implying a buy-to-sell ratio of roughly 30-to-1 in any month where the company must raise cash for dividends.