Strategy founder and CEO Michael Saylor took to social media again on Sunday with his latest signal, as one analyst believes Saylor’s message needs more transparency to assist Bitcoin regain momentum.
“The orange dots only tell part of the story,” Saylor wrote Sunday in the A post that accompanied the chart from Saylortracker.comsimilar to previous social media messages that preceded Strategy’s Bitcoin (BTC) purchases, usually announced the day after his posts.
In recent weeks, the largest digital asset vault company and major holder of BTC has moved away from its long-term “never sell Bitcoin” approach to a desire to sell the largest cryptocurrency when necessary to fund dividends for holders of STRC preferred stock and replenish cash reserves. According to a July 6 report, Strategy sold $216 million worth of Bitcoin earlier this month, reducing its total holdings to 843,775 tokens. filing with the US Securities and Exchange Commission.
“The orange dots only tell part of the story.” Source: Michael Saylor
Days earlier, Strategy unveiled a capital framework to enable the sale of Bitcoin to fund dividends, raised its annual dividend rate on STRC preferred stock to 12%, and revealed that its US dollar reserve had increased to $2.55 billion.
Standard Charter’s global head of digital asset research, Geoff Kendrick, believes Strategy’s recent actions – and Saylor’s way of communicating them – “muddy the waters for BTC in the near future.”
“We believe that effective communication about the new MSTR strategy (using BTC to support STRC) is key to reassuring markets that a wholesale sale is unlikely; this, in turn, should support BTC prices,” Kendrick wrote in a note to clients on Friday. “Indeed, if this signaling 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 the “never sell” approach.
Kendrick said Strategy’s long-held “never sell” strategy limits the company’s options with the industry’s largest trove of digital assets.
“The problem with the ‘never sell’ approach is that it limits what MSTR’s BTC wallets can do – or, perhaps more importantly, what they are perceived to be doing,” said the StanChart analyst. “MSTR has begun to change its communications strategy on this matter in recent months. He sold BTC twice and recently announced a BTC monetization program.
Source: Standard Chartered Bank
Still, he thinks Strategy’s “market signaling” will improve soon. He expects this will provide clarity on the outlook for Bitcoin, for which StanChart maintains its year-end forecast at $100,000.
Shares are struggling at year-to-date lows ahead of the earnings report
Investors who believed in the Strategy’s narrative have not had an effortless time over the last 12 months. STRC preferred stock was structured to be priced at $100 per share. Shareholders saw par value fall last month to its lowest level since the introduction of preferred stock a year ago.
The MSTR-traded common stock has lost more than 70% of its value since July 2025, trading at $94.64 per share on Friday, down from a 52-week high of $457.22.
The company is scheduled to report second-quarter earnings on July 30, with analyst consensus at $4.28 per share, according to Yahoo Finance. According to Fintel.io, profits in six of the last eight quarters were lower than analyst forecasts dataincluding 33.76% negative surprise in the first quarter of 2026.
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