Michael Saylor: ‘We’re Prepared To Sell Bitcoin’ – Historic Move Revealed

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    Michael Saylor, Executive Chairman of Strategy, discsusses his plans to fund dividends and the future of Bitcoin adoption.

    *This video was recorded on May 6, 2026.

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    0:00 – Strategy’s Bitcoin sale controversy
    0:36 – Why Strategy may sell Bitcoin
    3:12 – “Never sell your Bitcoin” explained
    4:40 – How Strategy buys more Bitcoin than it sells
    6:33 – Michael Saylor’s Bitcoin accumulation philosophy
    8:04 – Using Bitcoin liquidity and market arbitrage
    11:14 – Responding to Ponzi scheme criticism
    13:32 – STRC trading patterns and Bitcoin buying
    15:05 – What really drives Bitcoin’s price
    17:58 – Bitcoin, macro risks, and Fed policy
    19:43 – Bitcoin as digital capital and digital credit
    21:52 – Strategy’s dominance in preferred stock issuance
    23:09 – AI, digital credit, and Bitcoin’s future
    24:36 – Saylor’s childhood inspiration and MIT story

    #investing #economy #bitcoin

    44 Comments

    1. 🔒 Get 20% off DeleteMe by going to https://joindeleteme.com/DAVIDLIN and use code DAVIDLIN to protect your privacy!
      And 🔈 Listen to What the Hack?, an award-winning, true cybercrime podcast: https://pod.link/1571482669

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      FOLLOW MICHAEL SAYLOR:
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      Saylor Academy: https://www.saylor.org/

    2. Some day in the future, there will probably be a Congresional Hearing as to the "Black Swan" event that took down the market. It will probably have been caused by some type of giant Ponzi Scheme.

    3. His analogies are terrible. He talks about someone spending money to buy land and "develop it", or Google spending money to "build data centers". The key part there is they're doing things that are value add, assuming there's demand for what they're building. What he's talking about is completely different.

      Also disappointed by the lack of a single meaningful question from two interviewers.

    4. As usual, David Lin's has given us another brilliant interview with an important market mover about a subject that is already changing our world. Whether we believe in it or not, blockchain is being baked into our future of finance, liquidity, credit and capital storage. Every interview makes me feel as though I'm attending an Ivy League graduate class on economics. Thanks!

    5. I've been saying for years now that people can't wrap their minds around how high Bitcoin can go. Everyone is preaching caution right now which is interesting. The reality is that the demand is just getting started. Only a fraction of the asset managers have been buying. Then there will be retail. Things could get really serious. Those of us who were still buying the week after the crash are about to be rewarded.. for me .. Long & short-term trading is generally safer, allowing investors to weather market volatility managed to grow a nest egg of around 100k to a decent 932k in the space of a few months. Thanks again, Alyssa Zentner , for the regular updates,

    6. He's propping up the Bitcoin price to make his companies portfolio look good for the end of financial year statements. After June 30th Bitcoin will dump as there is no longer any need to prop up the price. The bear cycle will be undefeated.

    7. To understand where the fiat comes from to pay the STRC dividend, first do the math to determine the percentage of the BTC + USD reserves required to pay that dividend. That will show you the extreme credit-worthiness of STRC. Then notice that Strategy regularly buys between 1.5 and 2.0 times more Bitcoin value per week than its ANNUAL STRC dollar dividend obligation. Though STRC ATM is not used to directly pay STRC dividends, the fact that the STRC ATM raises can put more BTC on the books in a single day than the annual STRC dividend obligation tells Bitcoin bulls who support Strategy's thesis all they need to know. After you see how impressive those numbers are, you will begin to understand the dynamism of the Strategy "flywheel". You might still, at that point, claim that someday the flywheel will spin more slowly, since while USD debases 7-12%/year exponentially, Bitcoin's CAGR will slowly decline since its growth is a power trend. Thus, though one can project an average Bitcoin CAGR of 30% over the next ten years, the CAGR will eventually decline to close to the USD annual debasement. However, over that 15-20 year horizon, Strategy will be able to let the STRC nominal yield fall since its credit rating and inclusion in more index funds will mean it can still sell plenty of STRC at a lower yield. This means that the STRC will become a smaller and smaller percent of the mNAV while the ability to ATM effectively through MSTR ATM grows. If accretive to MSTR it can also strategically sell small amounts of BTC. Why will the mNAV of MSTR grow? Because in 10-15 years, Strategy will be one of the largest financial institutions in history. By that time, either fiat will have generally failed, and interest rate yields will be replaced by pure equity contracts (research Saifedean Ammous's thesis that loan interest will no longer exist under a Bitcoin Standard and his and Jeff Booth's and Robert Breedloves's thesis about deflation being the normal good order of a free market), OR the fiat system survives, and Bitcoin derivatives turn Bitcoin into an exponential financial asset like traditional fiat financial assets. Either way, the mNAV of Strategy will go very high, current MSTR shareholders will enjoy fabulous returns, and Strategy will have excellent optionality to determine the best way to continue to produce good returns for shareholders (which might even include the Berkshire Hathaway playbook of generating equity yields by investing in companies whose returns surpass the Bitcoin CAGR hurdle rate).

    8. Strategy common stock shareholders can be compared to the private founders of the Bank of England in 1694. The founders of the bank (MSTR holders) lent money to the English King (Strategy, Inc.), and the King gave them the right to issue currency (STRC). They used the interest (MSTR mNav >1) and currency (STRC) to buy gold (Bitcoin). Over time, the value of their gold reserves became so high and their liabilities so low that their reputation as a reserve institution laid the foundation for the British Empire. The generational wealth of these founders still exists. The Bank wasn’t nationalized until 1946, 251 years after its founding. Similarly, as Strategy issues STRC and MSTR shares to buy Bitcoin, STRC's dividend obligations become smaller relative to the value of Bitcoin, and MSTR's share expansion is accretive.

    9. "Thank you Michael, our audience appreciates you" – No, we don't. We're just excited to witness the CRASH-AND-BURN of Saylor. Interview is too soft, too friendly, just giving him air time to keep shilling his "digital energy" nonsense. When Bitcon and Strategy burn down in flames, and they will, channels like these will have to act all surprised and innocent. After all – it's just a job. Get the clicks, get the views, it's not in David's interest to ask difficult questions, because he could never get these guys to show up on his show if they didn't know it's safe and all questions are softball.

    10. I'm actually amazed at people in the comments who either didn't listen to what Saylor was saying or fail to see the value in BITCOIN, even the US Navy is running a BITCOIN node

    11. Selling appreciated assets to fund dividends is not a Ponzi scheme. That’s a normal capital allocation strategy used throughout finance. Please, please, don't be stupid commenters.

    12. Lots of doomers that can’t do math here in the comments. You don’t have to believe in Mike… you have to be able to do the math – instead let’s just call something we don’t understand a scam. That matches our low T beta energy.

    13. comparing stretch to jp morgan is like an apples to orange comparison. jp morgan has real cash flow and microstrategy and bitcoin depend on pulling in new capital from investors while old investors could cash out

    14. Sertexity appears to be targeting people who want smarter financial tools without becoming full time traders. The AI driven system handles market monitoring continuously which could save users a lot of time and effort.🎉

    15. I’m amazed anyone would take the ‘never sell Bitcoin’ literally. They’re a regulated business and need flexibility and options.

      Strategy can potentially harvest a huge tax benefit selling some Bitcoin then buying back (no wash trading).

      I imagine Strategy will own far more Bitcoin at the of 2026 than they had at the start.

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