Strategy's average cost per Bitcoin stands at approximately $75,537, and its BTC investment has gained about 7.6%, according to data from the company.
Michael Saylor, co-founder of Strategy, has signaled that the Bitcoin treasury company plans to resume its BTC purchases this week, following a quarterly earnings call on Tuesday during which he indicated the company may periodically sell portions of its Bitcoin treasury.
"Back to work, BTC," Saylor wrote in a post on X on Sunday — a message that has previously preceded a Bitcoin purchase, which typically occurs the day after such posts.
The company last bought BTC on April 27, acquiring 3,273 coins for approximately $255 million, bringing its total holdings to 818,334 BTC. Those holdings were valued at roughly $61.8 billion according to Strategy's website.
Strategy had paused its BTC buying streak for one week ahead of Tuesday's first quarter 2026 earnings call, during which Saylor said the company could sell portions of its Bitcoin holdings periodically to pay dividends to holders of its credit instruments.
The announcement appeared to contradict the company's previous stance of never selling BTC. Critics of the move argue that such sales could weigh on Bitcoin's market price by introducing new selling pressure.
"We'll probably sell some Bitcoin to fund a dividend, just to inoculate the market, just to send the message that we did it," Saylor said during Strategy's Q1 earnings call.
The announcement drew mixed reactions from the Bitcoin community. Strategy investor Adam Livingston argued that periodic sales will be accretive for the company's treasury, allowing it to finance the purchase of more BTC in the future. Bitcoin advocate Samson Mow said Strategy's ability to sell BTC gives it optionality and greater room to maneuver in financial markets.
Others on social media contended that Strategy's Bitcoin sales and credit instruments will create a "doom loop" that suppresses the spot market price of BTC.
Strategy CEO Phong Le clarified that the company would only sell BTC in specific instances — including paying dividend yields and deferring taxes — and that neither its sales nor purchases should materially affect Bitcoin's market price. He noted that Bitcoin's average daily trading volume of more than $60 billion could easily absorb Strategy's $1.5 billion in annual dividend payments owed to holders of its corporate credit products.
"I don't think we're driving the price up or down," Le told CNBC, adding that the company owns about 4% of the total BTC supply.
Why it matters
Strategy's signal to resume buying comes immediately after its first public acknowledgment that it may sell portions of its Bitcoin treasury, marking a notable shift in the company's long-held 'never sell' posture.
Saylor's 'Back to work, BTC' post on X has historically preceded an actual purchase the following day, giving the message practical significance beyond rhetoric.
CEO Phong Le draws a structural distinction between discretionary liquidation and targeted sales for specific obligations — such as dividend payments and tax deferrals — framing the two as separate mechanisms rather than a general willingness to reduce holdings.
With Bitcoin's average daily trading volume exceeding $60 billion, the company's argument is that its $1.5 billion in annual dividend obligations represents a fraction of normal market activity, which is central to its case that sales will not materially move prices.
