Michael Saylor revives bitcoin-buy speculation as scrutiny over Strategy grows

Michael Saylor may have offered a clue about Strategy’s (MSTR) next move after last week’s surprise bitcoin sale.

On Sunday, the company’s executive chairman posted the chart traditionally used to track Strategy’s bitcoin purchases on X, writing: “A good time to add more dots.”

Market observers have viewed such posts as a precursor to a new acquisition, although the company has yet to officially announce any transaction and will likely broadcast any action on Monday.

Strategy CEO Phong Le appeared to reinforce that message in a reply to Saylor’s post. “Our corporate @Strategy is to increase net Bitcoin and Bitcoin per share over time,” Le wrote. “Rumors otherwise are just rumors.”

The messages came after Strategy found itself under renewed scrutiny last week. The company disclosed last Monday that it had sold 32 bitcoin, worth roughly $2.5 million, its first sale since 2022. While immaterial relative to its more than 843,000-$BTC treasury, the transaction sparked debate because investors have long viewed Strategy as one of bitcoin’s most consistent sources of demand.

Some market participants interpreted the $BTC sale as a potential sign that Strategy could sell more of its bitcoin holdings to support dividend payments or shore up liquidity if market conditions deteriorate further. Those concerns have only grown as bitcoin slumped below $60,000 on Friday, its weakest level since October 2024.

Adding to the spotlight, SEC filings on Friday showed two senior executives’ plans to sell a combined $15 million worth of MSTR shares.

CEO Phong Le disclosed plans to sell roughly $11.1 million of stock, while CFO Andrew Kang filed to sell about $3.9 million. The transactions were tied to recently vested stock awards.