- Michael Saylor’s company, Strategy (formerly MicroStrategy), announced on its Q1 2026 earnings call that it is considering selling some of its Bitcoin.
- This marks a major policy shift from years of public promises that the company would “never” sell its BTC holdings.
- The potential sales are framed as a way to fund preferred dividends, with CEO Phong Le stating the company aims to remain a “net buyer.”
- Saylor’s past, definitive statements, including “Never. No. We’re not sellers” and advising to “Sell a kidney if you must, but keep the BTC,” now conflict with the new approach.
On last night’s earnings call for Strategy, Michael Saylor and CEO Phong Le revealed they are considering selling some of the company’s bitcoin to pay a dividend. This pivot explicitly reverses years of guidance where Saylor swore the firm would only acquire and hold BTC.
According to the Q1 2026 earnings webinar, executives framed the move as a way to “inoculate” the market about their new strategy. CEO Phong Le outlined scenarios where BTC sales would fund dividends while maintaining a “net buyer” position. However, this rhetoric starkly contradicts a long history of absolute promises.
As far back as January 2022, Saylor told Bloomberg, “Never. No. We’re not sellers. We’re only acquiring and holding BTC.” He reaffirmed this stance numerous times, including in a February 2024 interview where he stated, “BTC is the exit strategy.”
His commitment became a cultural fixture. In March 2024, he told Yahoo Finance, “People that use fiat currency as a store of value, there’s a name for them. We call them poor.” He later published his “21 Rules of Bitcoin,” with Rule 20 clearly stating, “You do not sell your BTC.”
Just months ago, in February 2026, Saylor told CNBC the company was “not going to be selling” and would buy “every quarter forever.” Consequently, last night’s announcement represents a definitive end to that era of unwavering assurance.
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