Michael Saylor has claimed that Strategy Inc. could theoretically maintain dividend payments indefinitely if Bitcoin appreciates by only 2.3% annually. The statement comes as the company continues expanding its massive Bitcoin treasury, which now totals 818,334 BTC.
According to Saylor, the company’s current capital structure allows it to support long-term dividend payments through modest Bitcoin growth while continuing to hold the majority of its digital asset reserves.
Strategy’s Bitcoin Holdings Continue to Grow
Strategy has accumulated 818,334 Bitcoin at a total acquisition cost of approximately $61.81 billion. Based on current market prices, those holdings are now valued at around $66.34 billion, leaving the company with an unrealized gain of more than $4.5 billion.
Saylor explained that even limited annual appreciation in Bitcoin could generate enough value for the company to fund perpetual dividend distributions. He added that if Bitcoin were to deliver just a 2.3% annualized return, Strategy could theoretically sustain dividend payments indefinitely without altering its existing capital structure.
Dividends Could Last Decades Even Without Bitcoin Growth
One of the more surprising claims made by Saylor was that Strategy could continue paying dividends for approximately 43 years even if Bitcoin’s price failed to rise at all.
The company’s approach would involve selling relatively small portions of its Bitcoin reserves over time while maintaining a large treasury position. This marks a notable shift from Saylor’s long-standing “never sell Bitcoin” philosophy, which has defined Strategy’s corporate identity for years.
The new approach suggests that the company may be willing to monetize part of its holdings strategically in order to support shareholders and maintain dividend commitments.
Market Reacts as MSTR Stock Slips
Despite the optimistic long-term narrative surrounding Strategy’s Bitcoin strategy, investors reacted cautiously following the company’s latest earnings report and Saylor’s comments about potentially selling Bitcoin.
MSTR closed slightly lower on Wednesday at $186.82 after previously falling more than 4% intraday following disappointing financial results. The stock traded between $178.94 and $188.26 during the session.
Strategy also reported a massive net loss of $12.54 billion for the first quarter of 2026, adding further pressure to investor sentiment.
Bitcoin Falls Below $81,000
Meanwhile, Bitcoin dropped below the $81,000 level as traders shifted attention back toward traditional equity markets amid optimism surrounding a possible US-Iran peace agreement.
Bitcoin traded between $80,741 and $82,792 over the last 24 hours, while overall trading volume increased slightly.
Analysts at 10x Research noted that crypto-related equities have rallied sharply over the past two weeks, gaining roughly 36% during that period. However, some traders now appear to be rotating capital back into broader stock markets as geopolitical sentiment improves.
Peter Schiff Criticizes Saylor Again
Longtime Bitcoin critic Peter Schiff once again targeted Michael Saylor’s strategy, arguing that Strategy would likely suspend dividends before aggressively selling Bitcoin in a way that could negatively impact the market.
Schiff also warned that rising US deficits, persistent inflation, a weakening dollar, and declining confidence in America’s fiscal position could continue driving long-term bond yields higher, potentially creating additional volatility across both crypto and equity markets.
