The strategy could gain value in 2026 if Michael Saylor continues to suggest buying more Bitcoin than he sells.
Strategy bought 145,834 Bitcoin since January, spending about $11 billion at prices below its $75k average cost. JPMorgan expects 2026 purchases to reach $30 billion, higher than the $22 billion spent in each of the prior two years. Holdings now total 818,334 BTC, worth over $65 billion, the largest corporate stash. Michael Saylor’s “Buy more bitcoin than you sell” tweet emphasizes a net‑positive stance. Strategy leans on its perpetual preferred stock, STRC, with an 11.5 % yield and an annual dividend around 2.2 % of Bitcoin’s value—about $1.5 billion. Saylor noted future Bitcoin sales could fund these payments, but purchases via STRC and equity issuance outpace any needed sales. STRC’s face value exceeds $8.5 billion, limiting dilution for current shareholders. TD Cowen lifted its MSTR price target to $395, suggesting over 110 % upside from $186.82, citing improved capital efficiency from STRC. BTC‑yield forecasts rose to 18.2 % for FY2026 and 9.6 % for FY2027, assuming Bitcoin hits $140 k by year‑end, with a bullish $175 k case. Ongoing buying and a stable or rising BTC price are critical to sustain dividend economics and the upside.
