Strategy will sell Bitcoin only to fund dividend
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- Strategy holds 818,334 BTC, worth over $66 billion, the largest publicly‑traded Bitcoin treasury.
- Phong Le says Strategy will sell Bitcoin only to fund the 11.5 % dividend on its Series A Perpetual Stretch Preferred Stock and to defer or offset taxes.
- Le adds sales will be “accretive” – only if they raise the BTC‑per‑share metric and benefit common shareholders.
- Michael Saylor noted that if Bitcoin rises more than 2.3 % a year, Strategy could cover its dividend forever without issuing more stock.
- Strategy’s annual dividend obligation is about $1 billion, which can be absorbed by Bitcoin’s roughly $60 billion daily trading volume without moving the market.
Why it matters: Common shareholders gain protection as Strategy uses Bitcoin sales to fund its $1 billion dividend without diluting equity, while the market’s $60 billion daily BTC volume should absorb the sales, limiting price impact.
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