Strategy
Analytics and business intelligence company (Nasdaq: MSTR)
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Project Overview
Strategy (Nasdaq: MSTR) is an independent, publicly-traded analytics and business intelligence company. It follows two corporate strategies: (1) to grow its enterprise analytics software business to realize the vision of Intelligence Everywhere, and (2) to acquire and hold Bitcoin, which it sees as a reliable store of value, backed by a robust, public, open-source architecture, independent of sovereign monetary policy.
Strategy Releases Investor Briefing: 840,000 BTC Establishing a Floor, Digital Credit Strategy Becomes Growth Engine
Odaily News Bitcoin reserve company Strategy released its latest investor briefing, disclosing that as of August 9, the company holds 840,447 bitcoins, accounting for approximately 4% of the total Bitcoin supply. The company stated that its core strategy is not just holding Bitcoin, but also building a "Digital Credit" platform through capital markets to enhance Bitcoin holdings per share.As of August 10, Strategy's stock (MSTR) had a market capitalization of approximately $38.368 billion, corresponding to a 1.06x mNAV (market cap/net Bitcoin value per share). The company noted that MSTR is not a Bitcoin ETF; common shareholders do not directly own the Bitcoin held by the company, but rather are residual interest holders positioned after debt and preferred stock.Strategy stated that the goal of its "Digital Credit" strategy is to issue digital credit products equivalent to 10%-20% of its Bitcoin reserve annually, when market conditions permit, with an expected scale of approximately $5.4 billion to $10.8 billion. The company said that if the long-term yield on Bitcoin exceeds financing costs, this model could increase common shareholders' Bitcoin exposure per share.Strategy emphasized that MSTR, as common stock of a Bitcoin reserve company, has the dual nature of amplifying both returns and risks. The main risks listed by the company include Bitcoin price volatility, changes in financing conditions, mNAV compression, dilution from stock issuance, and debt and preferred stock repayment pressures.To date, Strategy remains one of the public companies holding the largest amount of Bitcoin globally. The company stated that it will continue to increase its long-term Bitcoin holdings and per-share Bitcoin exposure through capital market instruments, digital credit issuance, and proactive asset allocation.
Strategy did not increase Bitcoin holdings last week, raised $333.7 million via ATM and repurchased STRC preferred stock
据 Strategy 向美国 SEC 提交的 8-K 文件，公司于 2026 年 8 月 10 日至 16 日未购买比特币，持仓维持在 840,447 枚，总持仓成本约 633.6 亿美元，平均成本约 75,385 美元。
Strategy's stock price fell below $94, potentially affected by MSCI's proposal to remove bitcoin treasury companies from its indices
According to Odaily, data from MSX.COM shows that Strategy (MSTR)'s stock price has fallen below $94, possibly impacted by news that MSCI is considering removing bitcoin treasury companies from its index system.Analysts believe that if MSCI ultimately decides to exclude bitcoin treasury companies from its indices, it could lead to selling pressure from index funds on related companies and affect their capital market valuation logic.Supporters, however, argue that companies like Strategy have formed a unique balance sheet model by holding bitcoin, integrating digital assets into the traditional financial system, and that these companies still possess long-term investment value. The community is currently calling on MSCI to retain Strategy (MSTR)'s eligibility in the relevant indices.
Strategy may be removed from the MSCI index, with proposed rules targeting non-operating companies
Odaily News: Bitcoin News posted on X platform stating that MSCI has proposed new rules targeting "non-operating companies." According to a simulation conducted by MSCI in May 2026, Strategy would be removed from its global investable market index. Strategy, along with Metaplanet and Yellow Cake, are the three companies listed in the simulated removal from the MSCI ACWI IMI. The proposed methodology would screen companies based on their operating assets, expenses and cash flows, non-operating fair value changes, and the extent to which they rely on accumulated assets raised through financing. The final criterion would directly target Strategy's model of accumulating Bitcoin through issuing equity and debt. The rules have not yet been finalized, with the comment period ending on September 30. MSCI is expected to make a decision by October 16, and related adjustments could be implemented during the November 2026 index review.
MicroStrategy plans to host an investor Q&A livestream on August 17, with Michael Saylor attending.
The Bitcoin treasury company Strategy officially announced that it will hold an investor Q&A livestream at 12:00 ET on August 17. The company's Founder and Executive Chairman Michael Saylor and CEO Phong Le will attend. It is reported that this investor Q&A is expected to focus on market-concerned topics such as the company's Bitcoin strategy, capital operations, financing plans, and future business direction.
Strategy holds nearly 850,000 Bitcoin, Michael Saylor says he earned $15 billion last year with the help of ChatGPT
Odaily News: Software company Strategy holds nearly 850,000 Bitcoin, valued at just over $50 billion, with some recent purchases funded through debt and stock issuance. Since Michael Saylor shifted the company toward Bitcoin accumulation in 2020, his wealth has fluctuated with Bitcoin's price. Michael Saylor stated that last year, with the aid of an AI chatbot, he earned $15 billion through the company's Bitcoin-backed preferred stock. Strategy's STRC offers an annual dividend yield of 12%, with its price recently recovering to near $100 after dipping to around $75 in late June. Over the past year, Strategy's common stock value has fallen by approximately 80% alongside Bitcoin's price decline. The company recently sold some of its Bitcoin holdings to manage debt and dividend commitments, and has built a $4 billion cash reserve, providing roughly two years of funding support before subsequent financing. Michael Saylor also mentioned that in May of last year, he used ChatGPT's deep research mode to design the company's convertible preferred stock product.
GSR Legal and Strategy Officer: SEC's New Crypto Rules May Be Overestimated by the Market, Unable to Break Through Existing Securities Law Constraints
GSR Chief Legal and Strategy Officer Joshua Riezman shared his views on X regarding the U.S. SEC's latest proposed regulatory framework for crypto assets, stating that the proposal may not achieve what many market participants currently understand. Without amendments to relevant U.S. laws, the regulatory exemptions provided by the SEC under existing securities laws remain limited.He noted that clearer regulatory rules are positive for the crypto industry, but the market structure addressed by the proposal differs significantly from the previous crypto market cycle. The industry needs to further understand what form the new framework will ultimately guide the U.S. crypto market toward.
Ireland Plans to Introduce Crypto Anti-Money Laundering Industry Standards
The Irish Government has released its first National Anti-Money Laundering Strategy, proposing stricter scrutiny on private crypto wallet transfers and overseas crypto enterprises, with plans to implement industry standards related to cryptocurrency gambling funds in the second half of 2027.
Strategy Responds to MSCI Proposal to Remove Bitcoin Treasury Companies from Index
Odaily News: Strategy has responded to MSCI's proposal to remove bitcoin treasury companies from its indexes. Strategy stated: "Index providers should measure the market, not dictate what assets companies hold. MSCI's proposal is inconsistent with the stance of regulators, the market, and clients. Bitcoin doesn't need MSCI, and neither does Strategy." (BitcoinTreasuries)
Strategy may be removed from the MSCI index, with proposed rules targeting non-operating companies
Odaily News: Bitcoin News posted on X platform stating that MSCI has proposed new rules targeting "non-operating companies." According to a simulation conducted by MSCI in May 2026, Strategy would be removed from its global investable market index. Strategy, along with Metaplanet and Yellow Cake, are the three companies listed in the simulated removal from the MSCI ACWI IMI. The proposed methodology would screen companies based on their operating assets, expenses and cash flows, non-operating fair value changes, and the extent to which they rely on accumulated assets raised through financing. The final criterion would directly target Strategy's model of accumulating Bitcoin through issuing equity and debt. The rules have not yet been finalized, with the comment period ending on September 30. MSCI is expected to make a decision by October 16, and related adjustments could be implemented during the November 2026 index review.
Bitwise CIO: Bitcoin May Have Touched Bear Market Bottom
Bitwise Chief Investment Officer Matt Hougan stated in an interview with Bloomberg that the Bitcoin price has not reacted significantly to negative news recently, such as the Coldcard security incident, Strategy sell-off, and the CLARITY Act's progress falling short of expectations, which may indicate that Bitcoin has approached or reached the bottom of this bear market.
South Korea's People Power Party Proposes Postponing Virtual Asset Taxation to 2030
According to South Korean media outlet MBN, People Power Party lawmaker Jung Sung-kook has formally proposed the "Partial Amendment to the Income Tax Act," intending to postpone the implementation date of the virtual asset income tax from the current January 1, 2027, to January 1, 2030, a delay of three years. Under current regulations, income from virtual asset transfers and lending will be classified as other income, and the portion of annual gains exceeding 2.5 million Korean won shall be subject to a 22% tax rate (including local income tax). Jung Sung-kook stated that virtual asset taxation should be implemented only after the investor protection system and the basis for fair taxation are fully improved, emphasizing that priority should be given to ensuring a system preparation period to minimize market disruption as much as possible. Previously, lawmakers from the same party, including Song Eon-seok, had proposed an amendment to delete clauses related to virtual asset income tax, which has currently been submitted to the National Assembly Strategy and Finance Committee for deliberation; however, the government is expected to actively argue for the necessity of taxation, and the bill still faces resistance in its progression.
Billionaire Steve Cohen's Point72 liquidates 72,431 shares of Strategy
Odaily News: Billionaire Steve Cohen's hedge fund Point72 has disclosed selling all 72,431 shares of Strategy stock and, for the first time, purchased 163,419 shares of Strive stock, valued at $2.1 million. The hedge fund is shifting its allocation toward ASST. (BitcoinTreasuries)
Strategy Bitcoin holdings show an unrealized loss of $9.904 billion, while Bitmine Ethereum holdings show an unrealized loss of $8.513 billion
According to on-chain analyst Yu Jin's monitoring, Bitcoin treasury company Strategy (MSTR) currently holds 840,447 BTC ($53.452 billion), with an average cost of $75,385, showing an unrealized loss of $9.904 billion (-15.6%).Ethereum treasury company Bitmine (BMNR) purchased 9,926 ETH ($18.77 million) last week at approximately $1,891 per token. They now hold a total of 5,815,164 ETH ($11.06 billion), with an average cost of $3,366, showing an unrealized loss of $8.513 billion (-43.5%).
Korea Investment Corporation built a position of 65,443 shares of Circle stock in the second quarter.
Korea Investment Corporation (KIC) established a position in Circle stock in the second quarter, with holdings of 65,443 shares valued at approximately 4.09 million USD. Additionally, it reduced holdings in Strategy, Coinbase, and Riot Platforms during the same period, and increased holdings in Block and Robinhood stock.
Bitwise CIO: Bitcoin May Have Touched Bear Market Bottom
Bitwise Chief Investment Officer Matt Hougan stated in an interview with Bloomberg that the Bitcoin price has not reacted significantly to negative news recently, such as the Coldcard security incident, Strategy sell-off, and the CLARITY Act's progress falling short of expectations, which may indicate that Bitcoin has approached or reached the bottom of this bear market.
Bybit Releases Latest Options Weekly Report (08.03-08.10): NFP Major Surprise as Labor Market Cools, XAUT Leads Strongly, Bybit Newly Lists HYPE Options
Last week, major assets closed higher across the board: July Non-Farm Payrolls -23k severely dampened rate hike expectations, the USD broke below 100, and Gold and Crypto benefited in tandem. BTC/ETH ETF weekly net inflows were $853M/$245M, the third-largest institutional buying week of the year. Core risk this week: 8/12 CPI (08:30 ET), determining the direction of September rate hike expectations. Strategy advances on three fronts: Sell ETH weekly expiry $1,800 P (annualized ~15-20%), Sell HYPE 1D $52 P (annualized ~70%, newly listed on Bybit), Sell XAUT 1D $4,360 C (annualized ~30-60%). All three positions must be reduced to safe levels before CPI.
Strategy sold BTC last week at a loss of $18.8 million, while Bitmine's holdings show an unrealized loss of approximately $8.406 billion
Odaily News: According to on-chain analyst Yu Jin's monitoring, Bitcoin treasury company Strategy sold 1,690 BTC last week at a price $11,123 lower than its cost basis, resulting in an actual loss of $18.8 million. Strategy currently holds 840,447 BTC with a market value of $54.742 billion, an average cost of $75,385 per BTC, and an unrealized loss of $8.615 billion, representing an unrealized loss ratio of -13.6%.Ethereum treasury company Bitmine purchased 7,391 ETH last week at an average price of approximately $1,888, totaling $13.95 million. Bitmine holds a total of 5,805,238 ETH with a market value of $11.152 billion, an average cost of $3,369 per ETH, and a total unrealized loss of $8.406 billion, representing an unrealized loss ratio of -43%.
Bitwise CIO: Bitcoin May Have Touched Bear Market Bottom
Bitwise Chief Investment Officer Matt Hougan stated in an interview with Bloomberg that the Bitcoin price has not reacted significantly to negative news recently, such as the Coldcard security incident, Strategy sell-off, and the CLARITY Act's progress falling short of expectations, which may indicate that Bitcoin has approached or reached the bottom of this bear market.
QCP：当前市场呈现"韧性而非动能"，利空已被消化
据 QCP Capital 8 月 7 日市场报告，BTC 本周从约 62,500 美元低点回升至 64,000 美元附近。尽管期间承压明显——Strategy 上周出售 1,638 枚 BTC（约 1.047 亿美元），Coldcard 安全事件波及约 5,000 个钱包、估计损失约 1,755 枚 BTC（约 1.1 亿美元）——市场并未出现持续性下跌。 期权市场同样未见恐慌情绪，7 日和 30 日平值隐含波动率分别为 28.8 和 32.6，处于近期区间低端；7 日 25-delta 风险逆转从 -7.39 快速收窄至 -2.10，显示短端下行偏斜明显缓解。 宏观层面，美国 7 月 ISM 制造业 PMI 升至 55.6（逾四年新高），但就业数据走软，ADP 私人就业仅新增 4.4 万人，市场等待当日晚些时候公布的非农数据（华尔街日报预期新增约 8.3 万人）。此外，霍尔木兹海峡局势仍未完全解除，布伦特原油重返 83 美元上方；日元干预及日本国债收益率走势持续牵动全球流动性预期。
The S&P 500 added $2.1 trillion in market cap in a single month, approximately equal to the total market cap of the entire crypto market.
According to CoinDesk, the S&P 500 index has risen 3.12% this month, adding approximately $2.1 trillion in market value (equivalent to the total market cap of the entire crypto market), reaching a record high total market cap of $70.5 trillion, but Bitcoin has only risen about 2% this month, hovering near $64,600. Analysts point out that this round of stock market rise is mainly driven by AI and semiconductor individual stock narratives, rather than a broad-based recovery in risk appetite at the macro level, and Bitcoin lacks direct beneficial exposure to this. Meanwhile, the crypto market also faces multiple internal pressures: the Coldcard platform suffered a $120 million exploit, the prospects of the "Clarity Act" remain uncertain, MicroStrategy has reduced its BTC holdings for three consecutive months, and stablecoin supply continues to shrink—USDT's market cap dropped from $190 billion in April to $183 billion, and USDC's dropped from $79.5 billion to $72 billion.
Trust Wallet Teams Up with BNB Chain and CoinMarketCap to Launch AI Trading Agent Hackathon, with a Total Prize Pool of $36,000
: According to an official announcement, on June 3, Trust Wallet announced a partnership with BNB Chain and CoinMarketCap to officially launch the "BNB Hack: AI Trading Agents" hackathon, featuring a total prize pool of $36,000. The Trust Wallet Agent Kit serves as the core on-chain execution technology stack for this event. This hackathon also marks the first time the Trust Wallet Agent Kit has been fully integrated as a core infrastructure component into a top-tier AI Agent hackathon system.The hackathon features two main tracks: "Autonomous Trading Agents" (prize pool $24,000, 5 winners) and "Strategy Skills" (prize pool $6,000, 3 winners), in addition to three partner special awards of $2,000 each. In the "Autonomous Trading Agents" track, participants must leverage the Trust Wallet Agent Kit to achieve local self-custodial signing, autonomous mode operation, and on-chain trade execution, deployed within native BNB Chain scenarios such as PancakeSwap and BSC Perpetual Contracts. The "Strategy Skills" track does not require an execution layer; participants build backtestable strategy proposals based on 12 categories of data tools from CoinMarketCap MCP, including market data, technical indicators, on-chain data, sentiment, and news.Track one uses real PnL as the core evaluation criterion, setting a maximum drawdown limit as the risk control threshold. Track two is comprehensively scored by a judging panel across four dimensions: technical execution, originality, real-world value, and presentation. The build window runs from June 3 to June 21, the trading window from June 22 to June 28, and winners will be announced during the week of July 6. In addition to cash prizes, winning teams will receive CoinMarketCap Pro API subscription credits, mentorship from CMC Labs, and the BNB Chain Kickstart ecosystem support package.
Signal says it may exit the Canadian market if Bill C-22 takes effect.
According to Cointelegraph, privacy-focused messaging app Signal stated it may exit the Canadian market if required to comply with Canada’s proposed lawful access bill, Bill C-22. Udbhav Tiwari, Signal’s Vice President of Strategy and Global Affairs, said the bill could compel service providers to build technical surveillance capabilities and retain certain user metadata for up to one year—potentially undermining end-to-end encryption and increasing the risk of cyberattacks. The report notes that Bill C-22 has not yet entered into force and still requires parliamentary review and royal assent. In addition to Signal, VPN provider Windscribe has also indicated it may follow suit and withdraw from Canada if the bill is passed.
QCP: BTC Monthly Gain Exceeds 14%; Geopolitical and Security Incidents Disrupt Market Sentiment
QCP Group’s analysis states that U.S.-Iran negotiations have once again collapsed, while the Middle East ceasefire continues, leaving the overall geopolitical landscape relatively static. A shooting incident occurred at the White House Correspondents’ Dinner, with Trump suspected as the target. Following Asia’s market open, BTC briefly surged past $79,000 and ETH above $2,400—but gains quickly reversed amid concerns triggered by news of Iran’s Foreign Minister traveling to Russia for talks with Putin. Since early April, BTC has rallied over 14% cumulatively, marking four consecutive weeks of positive closes. Spot ETFs recorded nine straight days of net inflows totaling approximately $2.11 billion. Strategy funds added over $3.8 billion worth of BTC in the past month. The current key resistance level for BTC lies near the CME gap around $82,000. BTC perpetual contract funding rates remain persistently negative; a breakout above this level could trigger short-covering. Implied volatility continues declining, and risk-reversal skew has narrowed somewhat, signaling gradually rising market interest in upside exposure. Key events this week: - April 29: Earnings reports from Microsoft, Amazon, Meta, and Google, plus the FOMC interest-rate decision. - April 30: Apple earnings report, U.S. Q1 GDP data, and March PCE inflation data.
Strategy Releases Investor Briefing: 840,000 BTC Establishing a Floor, Digital Credit Strategy Becomes Growth Engine
Odaily News Bitcoin reserve company Strategy released its latest investor briefing, disclosing that as of August 9, the company holds 840,447 bitcoins, accounting for approximately 4% of the total Bitcoin supply. The company stated that its core strategy is not just holding Bitcoin, but also building a "Digital Credit" platform through capital markets to enhance Bitcoin holdings per share.As of August 10, Strategy's stock (MSTR) had a market capitalization of approximately $38.368 billion, corresponding to a 1.06x mNAV (market cap/net Bitcoin value per share). The company noted that MSTR is not a Bitcoin ETF; common shareholders do not directly own the Bitcoin held by the company, but rather are residual interest holders positioned after debt and preferred stock.Strategy stated that the goal of its "Digital Credit" strategy is to issue digital credit products equivalent to 10%-20% of its Bitcoin reserve annually, when market conditions permit, with an expected scale of approximately $5.4 billion to $10.8 billion. The company said that if the long-term yield on Bitcoin exceeds financing costs, this model could increase common shareholders' Bitcoin exposure per share.Strategy emphasized that MSTR, as common stock of a Bitcoin reserve company, has the dual nature of amplifying both returns and risks. The main risks listed by the company include Bitcoin price volatility, changes in financing conditions, mNAV compression, dilution from stock issuance, and debt and preferred stock repayment pressures.To date, Strategy remains one of the public companies holding the largest amount of Bitcoin globally. The company stated that it will continue to increase its long-term Bitcoin holdings and per-share Bitcoin exposure through capital market instruments, digital credit issuance, and proactive asset allocation.
Strategy Releases Investor Briefing: Plans to Build Digital Credit Platform and Explore "BTC Financial Institution" Model
Bitcoin treasury company Strategy released its latest investor presentation, disclosing holdings of 840,447 bitcoins, accounting for approximately 4% of the total Bitcoin supply, and stated that its core strategy involves not only holding Bitcoin but also building a "Digital Credit" platform through the capital market to increase Bitcoin holdings per share and explore the "Bitcoin financial institution" model.
Strive CEO：比特币当前价格区间“历史性便宜”
BitcoinTreasuries.NET 发文称，Strive（ASST）首席执行官 Matt Cole 表示，比特币在当前价格区间处于历史性低估水平，公司认为在此承担风险并增持 BTC 具有建设性意义。他还称，Strategy 仅出售 BTC 以支持 STRC 回归面值，从而长期以增厚收益的方式买入 BTC。
Bitget CFD Launches Sub-Account Feature, Supporting Multi-Strategy and Position Physical Isolation
Bitget CFD has officially launched its sub-account feature, aimed at providing institutional clients, professional trading teams, and high-net-worth users with more refined multi-strategy management, achieving 100% physical isolation between different strategies and positions. Sub-accounts share the master account's KYC status with no need for repeated verification. By default, users can create up to 5 independent CFD accounts with one click, supporting the deployment of different strategies—such as EA, high-frequency scalping, long-term trend, and hedging—into separate accounts, ensuring each strategy operates in a clean, independent environment.At the same time, the master account can centrally view real-time equity, margin ratio, current orders, and historical orders of all sub-accounts, while retaining the authority to reset sub-account trading passwords and read-only passwords, catering to professional teams' needs in account management, permission control, and internal risk management. Risk notifications for each sub-account, including margin top-ups and liquidation warnings, will also be independently sent to corresponding emails and app pushes, further enhancing the efficiency of multi-strategy collaboration and risk response.
Saylor Says Stock Buybacks Not a Priority, Builds $4.8 Billion Cash Reserve
Strategy Executive Chairman Michael Saylor stated that company stock buybacks are not a current priority, and the company is focusing on building a $4.8 billion cash reserve to support the STRC preferred stock business.
Strategy upgrades STRC and other preferred share control panels, adding risk assessment metrics such as Sharpe Ratio.
According to a post by MicroStrategy founder Michael Saylor, MicroStrategy has upgraded the dashboard for four preferred stock products: STRC, STRD, STRK, and STRF, adding metrics such as Bitcoin rating, after-tax effective yield, and one-year Sharpe ratio. These new tools can be used to evaluate the yield levels, credit quality, downside protection, and risk-adjusted returns of the relevant products.
Related news
Strategy Ranks 17th in U.S. Trading Volume, Surpassing Google
Odaily News: BitcoinTreasuries.NET posted on X platform, stating that Strategy, a bitcoin treasury company, has seen its trading volume surpass Google, making it the 17th most traded stock in the United States, ahead of several tech and financial giants.
Bitcoin approaches $70,000, driving crypto-related stocks sharply higher; Strategy surges over 12%
Odaily News As Bitcoin approaches $70,000 and triggers a large-scale short squeeze, crypto-related stocks on U.S. exchanges are rallying across the board. Strategy (MSTR) rose 12.68% to $104.25, Coinbase (COIN) climbed 9.05% to $159.47, Circle (CRCL) gained 9.56% to $78.59, and BitMine (BMNR) advanced 10.72% to $20.24.During the same period, Bitcoin's short-squeeze rally led to over $1 billion in short positions being liquidated within an hour. Additionally, the U.S. Treasury announced it would at least double the scale of its long-term Treasury buyback program starting in September, pushing risk assets broadly higher. Strategy and Coinbase are particularly noteworthy, as both are among the large-cap stocks heavily shorted on Wall Street. Coinbase is currently the fifth-most-shorted stock in the financial sector. As such, this rally not only squeezed shorts in the crypto derivatives market but may also force U.S. equity investors shorting MSTR and COIN to cover their positions. (Decrypt)
Billionaire Steve Cohen's Point72 liquidates 72,431 shares of Strategy
Odaily News: Billionaire Steve Cohen's hedge fund Point72 has disclosed selling all 72,431 shares of Strategy stock and, for the first time, purchased 163,419 shares of Strive stock, valued at $2.1 million. The hedge fund is shifting its allocation toward ASST. (BitcoinTreasuries)
Strategy Releases Investor Briefing: 840,000 BTC Establishing a Floor, Digital Credit Strategy Becomes Growth Engine
Odaily News Bitcoin reserve company Strategy released its latest investor briefing, disclosing that as of August 9, the company holds 840,447 bitcoins, accounting for approximately 4% of the total Bitcoin supply. The company stated that its core strategy is not just holding Bitcoin, but also building a "Digital Credit" platform through capital markets to enhance Bitcoin holdings per share.As of August 10, Strategy's stock (MSTR) had a market capitalization of approximately $38.368 billion, corresponding to a 1.06x mNAV (market cap/net Bitcoin value per share). The company noted that MSTR is not a Bitcoin ETF; common shareholders do not directly own the Bitcoin held by the company, but rather are residual interest holders positioned after debt and preferred stock.Strategy stated that the goal of its "Digital Credit" strategy is to issue digital credit products equivalent to 10%-20% of its Bitcoin reserve annually, when market conditions permit, with an expected scale of approximately $5.4 billion to $10.8 billion. The company said that if the long-term yield on Bitcoin exceeds financing costs, this model could increase common shareholders' Bitcoin exposure per share.Strategy emphasized that MSTR, as common stock of a Bitcoin reserve company, has the dual nature of amplifying both returns and risks. The main risks listed by the company include Bitcoin price volatility, changes in financing conditions, mNAV compression, dilution from stock issuance, and debt and preferred stock repayment pressures.To date, Strategy remains one of the public companies holding the largest amount of Bitcoin globally. The company stated that it will continue to increase its long-term Bitcoin holdings and per-share Bitcoin exposure through capital market instruments, digital credit issuance, and proactive asset allocation.
Strategy Releases Investor Briefing: Plans to Build Digital Credit Platform and Explore "BTC Financial Institution" Model
Bitcoin treasury company Strategy released its latest investor presentation, disclosing holdings of 840,447 bitcoins, accounting for approximately 4% of the total Bitcoin supply, and stated that its core strategy involves not only holding Bitcoin but also building a "Digital Credit" platform through the capital market to increase Bitcoin holdings per share and explore the "Bitcoin financial institution" model.
Strategy's BTC holdings per share have increased for several consecutive years, rising to 0.001967 BTC so far in 2026
Odaily News: Joe Burnett, Vice President of Strive, posted on X platform that Strategy's BTC holdings per share are as follows: 0.000566 BTC in 2020; 0.000834 BTC in 2021, a 47.3% increase; 0.000849 BTC in 2022, a 1.8% increase; 0.000911 BTC in 2023, a 7.3% increase; 0.001588 BTC in 2024, a 74.3% increase; 0.001950 BTC in 2025, a 22.8% increase; and 0.001967 BTC so far in 2026, a 0.9% increase.