SAYLOR DUMPED 7,000 BITCOIN INTO THE CRASH TO PAY A DIVIDEND — NOW HE’S BUYING BACK WITH PRINTED SHARES 

Michael Saylor told you to never sell. He built a religion out of “we buy forever.” He called Bitcoin the only exit strategy. Then, quietly, while your stack bled from $126,000 to $62,800, his company sold roughly 7,000 bitcoin into the crash to pay preferred-stock dividends to Wall Street.

And the moment the debasement pump ripped prices 23% off the lows? The never-sell preacher was back at the counter — buying 4,603 coins with money printed from freshly diluted shares.

Let’s be clear about what just happened.

The receipts:

• From June 22, Strategy was a NET SELLER: roughly 7,000 BTC sold for about $432.5 million — to fund preferred-stock dividend obligations and share buybacks. The company famous for “we will buy forever” sold your favorite asset at a loss so Wall Street preferred holders stayed paid.
• The week before the purchase, Strategy sold 18.26 million MSTR shares for around $2.01 billion — dilution, straight into your position — creating a $1.59 billion “USD cash” reserve earmarked for bitcoin. Total dry powder: about $6.69 billion.
• August 24-30: Strategy bought 4,603 BTC for $369.7 million (roughly $80,000 per coin), announced August 30. That ends a 10-week pause that conveniently covered the ENTIRE crash.
• Holdings now: approximately 840,447 BTC — about 4% of all the bitcoin that will ever exist, sitting on ONE corporate balance sheet.
• Average cost: $75,385 per coin. At $79,000 that’s a paper gain of $2.5-2.8 billion. Below $75,385 it’s a paper loss — and the MSTR share-printing machine gets a lot harder to run.

We covered Saylor’s “We’re back” hint the other day (read it here) — today it’s confirmed with receipts. He sat in cash through the entire collapse, sold at a loss to pay dividends, waited for the pump, and bought back at $80,000 — roughly 23% higher than where he was dumping. He first telegraphed this pivot back in May — retail just didn’t want to see it.

This is the “us vs them” made surgical. The dividend went to preferred-stock holders on Wall Street. The dilution hit ordinary MSTR shareholders. And the exit liquidity was every Bitcoiner who actually followed the doctrine: hold, don’t sell, never waver.

Here’s the uncomfortable math: Saylor bought back half of what he sold — but at prices 23% higher. He sold roughly 7,000 coins at the bottom of the range and repurchased 4,603 at the top of it. That trade didn’t lose money for Saylor. It lost money for everyone who bought the dogma while he was quietly funding it with stock sales.

Don’t be exit liquidity twice. The only person who never has to ask permission to sell or hold is you — if you actually own your coins. Exchanges can freeze you. Companies can dilute you. Self-custody is the entire point (your keys, your coins).

And if you’re buying bitcoin anyway, don’t pay retail like a sucker. Get it from Bull Bitcoin with coupon LOVEISBITCOIN.

So here’s the question: if the “never sell” CEO treats his own treasury as a dividend ATM and buys back 23% higher than he sold — why are YOU still holding the bag for his preferred stockholders?