Strategy magbe-benta na ng Bitcoin para sa buybacks, dividends

Sinabi ni Strategy CEO Phong Le na magbe-benta na ang kumpanya ng Bitcoin kapag nakakabuti ito sa shareholders, breaking from their pure accumulation stance.

Malaking shift ito para sa largest corporate Bitcoin holder sa mundo. Sinabi ni Le sa investors during the May 5 earnings call na gusto pa rin ng Strategy maging net accumulator ng Bitcoin, pero gagamit sila ng tactical sales para pondohan ang share buybacks, dividends, at debt management. Ang main goal nila ay increasing Bitcoin per share, hindi lang holding forever. Ayon kay Executive Chairman Michael Saylor, magbe-benta sila ng Bitcoin para sa dividend just to show the market na possible.

Bumili ang Strategy ng 89,599 BTC sa first quarter at average price na $80,900, spending around ₱441.65 billion ($7.3 billion). Nagdagdag pa sila ng 56,235 BTC sa second quarter to date. Pero bumaba ang Bitcoin price from around $87,000 sa early Q1 to $68,000 by late March, triggering a ₱874.82 billion ($14.46 billion) unrealized loss sa stack ng Strategy.

Yung paper loss na yun created a ₱133.1 billion ($2.2 billion) tax shield opportunity. Base sa modeling ng Strategy, kapag nagbenta sila ng ₱60.5 billion ($1 billion) in Bitcoin para buyback-in ang MSTR shares, magda-add yun ng 636 basis points of yield kung ang stock ay nag-trade below 0.5 times its Bitcoin net asset value. Nagtakda ang company ng share buyback threshold at 1.22 times net asset value.

Nag-report ang Strategy ng ₱758.66 billion ($12.54 billion) net loss para sa Q1 2026, driven mostly ng unrealized Bitcoin markdowns. Tumaas naman ang revenue ng 12% year-over-year to ₱7.52 billion ($124.3 million) with 67.1% gross margin. Nag-raise ang company ng $11.7 billion in capital year-to-date, halos half-half between common equity and preferred shares, at may $8.5 billion in STRC digital credit outstanding with 11.5% dividend yield.

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ℹ️ Article Details

• Source: Bitcoin Magazine
• Original URL: https://bitcoinmagazine.com/bitcoin-for-corporations/sstrategy-mstr-bitcoin-sales-pivot
• Reading Time: 3 minutes
• Category: bitcoin-news
• Tickers: BTC, MSTR
• Key Takeaway: Strategy's treating Bitcoin as active capital, not just a vault — optimizing for per-share gains over static hoarding.
• Slug: strategy-sell-bitcoin-buybacks-dividends

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