Michael Saylor, executive chairman of Strategy, has signaled the company may be gearing up for another Bitcoin purchase — even as it explores selling a portion of its massive crypto treasury to fund dividends. The dual move, which Saylor hinted at during a conference call this week, has split the company's investor base.
Saylor's latest hint
Saylor told listeners on a May 8 earnings call that 'we're always looking at the market' when asked about fresh Bitcoin buys. He didn't give a timeline or size, but long-time watchers of the company know his vague nods often precede a public filing. Strategy has not issued a press release yet.
Why sell the treasury?
More surprising was Saylor's admission that the board has discussed liquidating part of Strategy's Bitcoin holdings — currently worth over $15 billion — to start paying a regular dividend. The company has never paid one. For years, Saylor has preached a 'buy and hold' strategy, using debt and equity to stack more BTC. Now, with pressure from activist investors and a sagging stock price relative to Bitcoin's gains, the company appears ready to return some cash to shareholders.
Mixed reactions
The reaction online was immediate and divided. Some longtime Bitcoin maximalists accused Saylor of 'selling out' and abandoning the core thesis. Others argued that a dividend would attract institutional money that demands steady income, potentially lifting the stock. On social media, one prominent crypto fund manager called the plan 'a betrayal of the original vision,' while a retail investor group applauded the move as 'finally listening to shareholders.'
Strategy has not filed any formal proposal with the SEC. Saylor said the board is still 'evaluating' the dividend structure and any planned sale would be gradual. The next concrete date to watch is the company's annual shareholder meeting, expected in June, where management may face questions about the treasury strategy. Until then, the market will be parsing Saylor's every word — and his Twitter feed — for clues on the next Bitcoin buy.
