Saylor signals MicroStrategy will resume bitcoin buys

Michael Saylor posted “Back to work. BTC” on X on May 10 alongside an image of MicroStrategy’s bitcoin holdings tracker, indicating the company will resume buying bitcoin after a one-week pause. The tracker showed 818,334 BTC valued at about $66.15 billion, an average purchase cost near $75,537 per coin and an unrealized gain of roughly 7.02% as of that date.

One week earlier Saylor posted “No buys this week. Back to work next week. BTC,” a halt that coincided with MicroStrategy’s quiet period ahead of its Q1 2026 earnings release on May 5. Public companies commonly avoid large capital transactions in the days before reporting results to comply with disclosure rules; Saylor’s May 10 post is viewed as the end of that pause. MicroStrategy and Saylor typically report purchase activity in the morning after such posts, often around 8 a.m. on Monday, and a disclosure is expected within 24 hours.

MicroStrategy accelerated purchases through April, adding tens of thousands of bitcoin. Those buys were largely funded through its Series A Perpetual Stretch Preferred Stock, known as STRC, which carries an annual dividend yield of about 11.5% and has roughly $8.5 billion outstanding. The instrument creates periodic cash obligations to preferred holders; MicroStrategy said it holds a $2.25 billion cash reserve and has proposed moving STRC dividend payments to a semi-monthly schedule to ease liquidity management.

In a recent video interview, Saylor outlined the company’s approach to covering dividend costs while continuing accumulation: “buy 10 bitcoin, sell one to fund dividends, buy 10 more, sell one more.” On the Q1 earnings call, CEO Phong Le framed potential sales as conditional, saying any sales would occur only when more beneficial to shareholders than issuing additional equity and characterizing the approach as “math over ideology.”

Comments about limited sales to cover STRC dividends briefly pressured MSTR shares as some investors interpreted the remarks as a change from an accumulation-only posture. Company officials described such tactical sales as using bitcoin as a productive treasury asset rather than a retreat from longer-term accumulation.

With the earnings quiet period ended, STRC and cash-management measures in place, and a modest unrealized return on its holdings, MicroStrategy’s next disclosure of bitcoin purchases is expected imminently.