Strategy CEO Saylor says Bitcoin dividend sales trivial
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- Strategy could fund its dividends by selling bitcoin, but Saylor says each bitcoin sold would be offset by buying 20 bitcoin, making the market impact negligible (about $3 million vs $20‑$50 billion liquidity).
- Michael Saylor rejects the “buying the weekly top” criticism, explaining that equity swaps happen when the MSTR premium is widest, generating risk‑free yield for shareholders.
- Stretch preferred shares (STRC) have delivered a 400% growth rate, providing a capital engine that works even in a bear market, unlike the company’s convertible bonds.
- CoinDesk interviewed Saylor at the Consensus conference in Miami, where he outlined two metrics for capital allocation: BTC yield for common equity and credit impact on the balance sheet.
Why it matters: Shareholders gain a stable dividend source without diluting equity, while the market sees virtually no price pressure from the $3 million bitcoin sales; Strategy preserves its balance sheet and leverages high‑growth Stretch shares for capital.
