The strategy’s founder and chairman, Michael Saylor, took to social media again on Sunday to offer his latest signal to investors, as one analyst believes Saylor’s message needs more clarity to help Bitcoin regain its momentum.
“The orange dots only tell part of the story,” was Saylor’s message Sunday in a statement. job which accompanied a table of Saylortracker.comsimilar to previous social media posts that preceded Strategy’s announcement of Bitcoin (BTC) purchases, typically announced the day after its posts.
In recent weeks, the largest digital asset treasury company and a major BTC holder has shifted away from its long-standing “never sell Bitcoin” approach to a willingness to sell the largest cryptocurrency if necessary to fund dividends for holders of its STRC preferred shares and replenish its cash reserves. Earlier this month, Strategy sold $216 million worth of Bitcoin, reducing its total holdings to 843,775 tokens, according to a July 6 report. deposit with the United States Securities and Exchange Commission.
“The orange dots only tell part of the story.” Source: Michael Saylor
A few days earlier, Strategy unveiled a capital framework allowing Bitcoin sales to fund dividends, increased the annual dividend rate of its STRC preferred shares to 12% and revealed that its US dollar reserve had increased to $2.55 billion.
Geoff Kendrick, global head of digital assets research at Standard Charter, believes that Strategy’s recent actions – and the way Saylor communicates them – “muddy the waters for BTC in the near term.”
“We believe that effective communication on MSTR’s new strategy (using BTC to support STRC) is key to reassuring markets that wholesale is unlikely; this in turn should support BTC prices,” Kendrick wrote in a note to clients on Friday. “Indeed, if this signal proves effective, it should eliminate the need for MSTR to actually sell any BTC by supporting the price of STRC,” he said.
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StanChart sees inconsistencies in ‘never sell’ approach
Kendrick said Strategy’s long-standing “never sell” approach limited what the company could do with its largest treasury of digital assets in the industry.
“The problem with the ‘never sell’ approach is that it limits what MSTR’s BTC holdings can do – or, perhaps more importantly, what they are perceived to do,” the StanChart analyst said. “MSTR has started changing its communications strategy on this in recent months. It has sold BTC twice and recently announced a BTC monetization program.”
Source: Standard Chartered Bank
However, he believes that the strategy’s “market signals” will soon improve. He hopes this will clarify the outlook for Bitcoin, on which StanChart maintains its year-end forecast of $100,000.
Stocks struggle from year-long low ahead of earnings release
Investors who bought into the strategic narrative have not had an easy time over the past 12 months. STRC preferred shares were formulated to hold a price of $100 each. Shareholders saw the par value fall last month, to the lowest value since the preferred shares were introduced a year ago.
The common stock, trading under the ticker MSTR, has lost more than 70% of its value since July 2025, closing at $94.64 per share on Friday, down from a 52-week high of $457.22.
The company is expected to report second-quarter results on July 30, with an analyst consensus of $4.28 per share, according to data from Yahoo Finance. Profits have fallen short of analyst forecasts in six of the last eight quarters, according to Fintel.io dataincluding a negative surprise of 33.76% in the first quarter of 2026.
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