Michael Saylor Discusses Active BTC Sales: Strategy Like a BTC Development Company Can Buy Low and Sell High

On May 6, news emerged that Strategy’s latest report indicates a shift from passive accumulation of Bitcoin to actively managing its balance sheet to enhance the per-share value of Bitcoin. This move may break the previous strategy of Strategy’s founder, Michael Saylor, who vowed to ‘never sell’ BTC. During the earnings call on May 5, Michael Saylor compared Strategy to a real estate development company, stating, ‘If you buy land at $10,000 per acre and sell it at $100,000 per acre, then use the profits to buy more land… or if you sell land at $100,000 per acre to pay the interest on the debt you incurred to buy more land, no one would say this is detrimental to real estate prices, nor would anyone claim this business model is unworkable. The essence of a real estate development company is to buy land low and sell high. Strategy is like a Bitcoin development company.’ Phong Le, President and CEO of Strategy, also mentioned during the earnings call, ‘If we sell Bitcoin to obtain dollars, or sell Bitcoin to pay off debt, and doing so increases the per-share Bitcoin count, we will consider doing that in the future.’ As of the end of Q1 2026, Strategy holds 818,334 Bitcoins valued at $61.81 billion, with an average purchase cost of approximately $75,500 per Bitcoin. This represents about 4% of the total Bitcoin supply. So far in 2026, the company has acquired approximately 63,000 Bitcoins.