# Saylor says Strategy will remain a net Bitcoin buyer but may sell to fund dividends

By Riza Dagoc

Canonical URL: https://www.tokenpost.com/news/investing/36389
Published: 2026-10-21T05:48:35.000Z
Updated: 2026-10-21T05:48:35.000Z
Section: Investing

> Michael Saylor said Strategy expects to remain a net Bitcoin buyer while allowing sales to fund dividends and support credit instruments. The company also plans daily dividends, subject to shareholder approval.

Michael Saylor said Strategy expects to remain a net buyer of Bitcoin while retaining the ability to sell holdings, repurchase shares and support its credit instruments. The company is also seeking shareholder approval to pay dividends every calendar day.

The approach would allow Strategy to use Bitcoin sales to fund dividends and support its credit instruments when needed, alongside continued accumulation. Saylor described a capital management model spanning Bitcoin, common shares and the company's credit instruments.

In an October 19 interview with Schwab Network, Saylor said expanding capital would generally keep Strategy a net Bitcoin buyer, while allowing sales to meet those other commitments.

Saylor said Strategy had developed the flexibility to buy or sell its common stock, repurchase or issue credit instruments, and monetize Bitcoin. He cited a $1 billion common-stock buyback program, a multibillion-dollar credit repurchase program and a Bitcoin monetization program exceeding $1 billion.

Strategy held approximately 845,000 Bitcoin and about $5 billion in cash, he said. He valued the Bitcoin holdings at roughly $70 billion to $72 billion, depending on the day, and put total reserve assets at generally $75 billion or more. The company had added about 160,000 Bitcoin this year.

Asked about a slower pace of purchases, Saylor said a larger capital base makes the same percentage growth harder to achieve. Doubling a $1 billion base requires another $1 billion, whereas doubling an $80 billion base requires $80 billion, he said. He estimated that Strategy could grow by 20% to 30% annually from its current scale.

Another proposed change concerns dividend frequency. Saylor said quarterly dividend payments on preferred shares had been followed by corresponding price declines, with limited trading activity for much of the remaining period. STRC was paying dividends twice a month, he said. If shareholders approve the proposal as expected, Strategy plans to move all its credit instruments to dividends every calendar day, including weekends and holidays.

Saylor argued that spreading payments across 365 dividend events annually could reduce price swings around individual payments and improve liquidity. Weekend dividend accrual could also support continuous trading in tokenized securities, he said, while creating opportunities to capture dividends across different markets.

Discussing differences among investment vehicles, Saylor used the time until capital is needed and tolerance for volatility as his framework. He associated money market instruments with periods under four months, and credit instruments such as STRC with periods from four months to four years. He acknowledged that STRC could trade below par and said Strategy could deploy billions of dollars to help restore its price to par.

For horizons of four years or longer, Saylor distinguished direct Bitcoin ownership from ownership of Strategy's common stock. He described MSTR as exposure to a company building Bitcoin-based credit instruments, with amplified Bitcoin returns and greater volatility.

Saylor put volatility at approximately 8 for STRC, 38 for Bitcoin and 80 for MSTR. He cited a dividend yield of roughly 10% to 12% for STRC, then around 12%. Comparing their volatility, he likened MSTR to a rocket, Bitcoin to a fighter jet and STRC to a passenger jet, saying the differences reflected investment horizons and risk tolerance.

Saylor also said he believed Bitcoin was at the beginning of another bull market, citing a rebound near its 200-week moving average followed by a rise of about $20,000. He identified restrictive foreign, monetary and trade policies, alongside what he called an AI bubble that had absorbed $1 trillion in capital, as headwinds increasingly reflected in market prices.

He identified expanding Bitcoin-based credit, banks providing Bitcoin custody and lending against it, and positive regulatory guidance from Treasury, the CFTC and the SEC as potential tailwinds. Saylor said securities tokenization was pushing markets toward trading through weekends and US holidays, and positioned the daily dividend proposal as preparation for that shift.