Strategy added 535 bitcoin for roughly $43 million on Monday, resuming purchases after a pause last week. The buy arrived days after chairman 
Michael Saylor had signalled the company could consider selling part of its bitcoin holdings for the first time, Bitcoin Magazine reported. Saylor then reframed the policy publicly with a "30-for-1" commitment: Strategy would buy 30 BTC for every one sold and would "never be a net seller," he said in remarks reported by Decrypt. The acquisition was funded through $0.1 million raised via the company's STRC at-the-market program and $42.9 million from its MSTR ATM offering.
Chief executive Phong Le laid out the underlying decision framework on the company's earnings call. "I believe in math over ideology," Le said on the call, telling investors that "at the point where selling bitcoin versus selling equity to pay a dividend is better for our bitcoin-per-share, and for our common shareholders, we will do it." Strategy carries $8.2 billion in convertible debt and owes $1.5 billion annually in dividend obligations tied to its perpetual preferred stock STRC, Bitcoin Magazine reported, cash demands that equity issuance alone may not always cover at favorable terms.
Bitcoin-per-share — the ratio of total BTC holdings to diluted shares outstanding — remains the metric every financing decision runs through, Bitcoin Magazine reported. JPMorgan analysts wrote last week that if Strategy maintained its current pace, total bitcoin purchases in 2026 could reach approximately $30 billion. MSTR shares closed up 4.31% Friday at $187.59 and were up roughly 1% in pre-market Monday trading, with the stock up 41.7% over the past month though still down 18.9% over the past six months, Bitcoin Magazine reported. Bitcoin traded around $81,000.
Figures referenced: Michael Saylor. — JudgeMarket.
