Strategy Inc (NASDAQ:MSTR) executive chairman Michael Saylor has said the company could sell some Bitcoin (CRYPTO: BTC) before year-end as it optimizes its capital structure around growing "Bitcoin per share."
Saylor Defends Strategy's Model
Speaking on Thursday, May 22, during a live Q&A hosted by Coin Stories' Natalie Brunell alongside CEO Phong Le, Saylor pushed back against concerns that potential Bitcoin sales signal weakness in Strategy's treasury model.
"I think it's not unlikely that we'll sell some Bitcoin between now and the end of the year," Saylor said. "The goal of the company is to drive Bitcoin per share and to increase its Bitcoin and increase the enterprise value continuously forever."
"We had 50,000 Satoshi's per share five years ago. Now we have more than 200,000 Satoshi's per share," Saylor said.
The comments come after traders increasingly speculated that Strategy may need to sell Bitcoin to support dividends tied to its STRC preferred product.
According to Saylor, Strategy constantly evaluates four tools: selling equity, issuing credit, using cash reserves and selling Bitcoin. He argued that relying on only one funding source consistently underperforms long term.
Strategy's Bigger Bet: ‘Digital Credit’
Much of the discussion centered around STRC, Strategy's preferred dividend product that currently yields around 11.5%.
Saylor described STRC as the company's "flagship security" and said maintaining stability around its $100 target remains the firm's top operational objective.
Phong Le added that Strategy sees STRC evolving into a broader financial platform rather than just another yield product. "We've not just built a product. Stretch is a platform," Le said.
"What we're seeing is the literal digital transformation of a $300 trillion credit market," Saylor said.
Saylor also addressed Bitcoin's recent underperformance relative to equities. According to him, Bitcoin currently faces several macro headwinds.
Still, Saylor reiterated his long-term bullish view. "I expect the Bitcoin price will go up forever," he said.
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