Strategy chairman and Bitcoin bull Michael Saylor says the firm will buy the top crypto asset “forever,” despite its paper losses now topping $5 billion on its BTC purchases.
The largest crypto treasury vehicle spent another $90 million last week on BTC amid a 8% drawdown in the price of Bitcoin, bringing its stash to 714,644 BTC, or about $49 billion worth. The total haul is now worth around $5.1 billion less than the firm paid for it, though, as Bitcoin changes hands around $68,829.
But Saylor is unfazed.
“We’re not going to be selling. We’re going to be buying Bitcoin,” he said in an interview with CNBC on Tuesday. “I expect we’ll be buying Bitcoin every quarter, forever.”
BTC has fallen 45% from its October all-time high of $126,080, leading some to question at what point Strategy—which owns around 3.4% percent of the Bitcoin supply—may be forced to liquidate assets to service debt or pay its dividends.
Saylor called the concerns “unfounded,” noting that his firm has 2.5 years of debt and dividend payments coverage held in a cash reserve. In December, it unveiled a new $1.44 billion USD Reserve to help pay its dividends without touching its Bitcoin holdings and it has since added to that reserve via the issuance of common stock, extending its buffer.
Yet predictors on Myriad aren’t certain the firm will escape the year without hitting the sell button. As of Thursday, predictors give the firm around a 28% chance of selling BTC before the end of 2026, though that mark is down around 7% in the last seven days as Bitcoin rebounded from its recent lows near $60,000.
“If Bitcoin falls 90% for the next four years, we’ll refinance the debt. We’ll just roll it forward,” he said. “You’re at $68,000 right now. It literally has to fall to $8,000, and then we’ll just refinance the debt.”
“If you think it’s going to zero, then we’ll deal with that,” he added. “But I don’t think it’s going to zero, and I don’t think it’s going to $8,000 either.”
Shares in the firm (MSTR), which Saylor likened to “amplified Bitcoin,” are down around 2.7% in trading on Tuesday and now down nearly 66% in the last six months, changing hands recently around $134.58.
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