Michael Saylor, co-founder and CEO of Strategy, published the company’s traditional Bitcoin (BTC) acquisition chart on X on June 8, 2006.
Every time Thaler publishes an “orange dot” graph, Strategy typically files a Form 8-K with the U.S. Securities and Exchange Commission (SEC) on the following Monday. Check the BTC purchases made in the previous week.
Furthermore, this time, the message was clearer than ever: “Now is a good time to earn more points.” In other words, Saylor presented the current price level, where BTC is trading in the low $60,000 range, as an attractive area for potential accumulation.
A few hours later, Saylor added another short message: “32?” This refers to the company selling 32 BTC at the end of May.
In this regard, the executive also reposted a message from Strategy CEO Phong Le. “Our corporate strategy is to grow net Bitcoin and Bitcoin per share over the long term. Rumors to the contrary are just rumors,” the CEO wrote.
After publication, Bitcoin has made a comeback and has surpassed $63,000.
The strategy that shook the market with Bitcoin sales
The signal has special relevance because it arrives just a week later. The strategy reveals a sale of 32 BTC from May 26th to May 31st. As reported by CriptoNoticias, this operation was the first BTC sale carried out by the company since 2022 and raised questions within the market as it appeared to contradict the narrative of perpetual accumulation that Saylor has long championed.
The sale amounted to just 0.004% of the company’s reserves, but its impact was largely symbolic. After more than three years of declining sales and mounting financial pressures, questions arose about Strategy’s ability to maintain its strategy.
These doubts come at a time when the company’s position is also under pressure due to the fall in BTC prices. Strategy remains the public company with the largest amount of BTC in its treasury, acquiring 843,706 BTC at an average cost of $75,699 per unit. At current prices, this position has accumulated nearly $13 billion in unrealized losses.
The surgery was performed to participate Corporate bonds linked to STRC, a type of preferred stock issued by Strategy. Unlike common stocks, these products prioritize dividend collection and typically provide regular payments to investors. The company uses this type of mechanism to raise capital and fund part of its Bitcoin accumulation strategy.
Thaler had already predicted this scenario when the company released its first quarter 2026 balance sheet. At the time, Thaler explained that Strategic may sell some of its BTC to fund dividends related to STRC, but stressed that the goal remains to increase its net Bitcoin holdings over the long term.
“In times like this, even if you sell 1 BTC, you will end up buying another 10-20 BTC,” he said at the time. This phrase sought to clarify that the specific sale does not imply an abandonment of the accumulation strategy, but rather that the company will use BTC as a financial tool within its expanding balance sheet.
Saylor’s post pushed up the price of Bitcoin, but it also reignited criticism from his critics. One of them was economist Peter Schiff, who questioned Strategy’s ability to finance new purchases without affecting its financial commitments.
“Where will the funds for the purchase come from? Will I use up the rest of my cash reserves? If so, how will I pay dividends on the preferred stock?” he asked.
This comment points out one of the main debates about strategy. Sustainability of a model that combines the continuous purchase of BTC with various financial instruments that create future obligations for companies.
If the BTC purchase is completed, the operation would reinforce the idea that May’s sale was a one-time event and not a change in direction in what made Strategy the world’s largest holder of BTC.
