News linked to both this project and an event.
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.
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。
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.
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.
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.
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.
Odaily News: Michael Saylor, Executive Chairman of digital asset financial firm Strategy, stated that if you're looking for the next billion-dollar financial business, you should explore digital credit. He noted that digital credit can transform Bitcoin-centered capital strategies into yield-generating products. Within Strategy's digital credit product line, the Stride Preferred Stock (STRD), Stretch Preferred Stock (STRC), Strike Preferred Stock (STRK), and Strife Preferred Stock (STRF) offer effective yields of 15.29%, 12.63%, 12.08%, and 10.38%, respectively. These preferred securities provide the company with an additional financing avenue beyond common stock and debt.
Odaily Odaily News: Michael Saylor, Executive Chairman of bitcoin treasury company Strategy, stated that AI is transforming the way wealth is created, and that both businesses and individuals should not attempt to compete with machines, but rather use AI to amplify their own capabilities. Saylor noted that he used ChatGPT to help Strategy design a bitcoin-based preferred stock financing plan, which ultimately helped the company raise approximately $15 billion through an IPO and related financing. Saylor believes that the core advantage in the AI era is not repeatedly performing tasks that machines can handle, but rather asking better questions and leveraging AI to explore new opportunities that were previously impossible. (Fortune)
According to CryptoQuant on-chain data, total institutional BTC holdings, including trusts, ETFs, and closed-end funds, have decreased from 1.33 million BTC three months ago to 1.2 million BTC, a decline of approximately 10%. Meanwhile, the corporate Bitcoin treasury model is also facing pressure. Novaque Research analysts pointed out that the market cap of multiple Bitcoin treasury companies has currently fallen below the net asset value (NAV) of their BTC holdings, and the previous positive cycle mechanism of "stock price premium → financing to buy BTC → strengthening premium" has significantly weakened. The listed company with the largest holdings, Strategy, even sold 1,638 BTC last week.
Strategy posted on X: "Our ambition is to become the world's largest company by market capitalization—holding the most capitalized Bitcoin (BTC), issuing the most powerful credit instrument (STRC), and creating the best equity asset (MSTR)."Strategy stated that its strategic core includes three major directions:Bitcoin reserves: Continuously accumulate BTC and treat Bitcoin as a long-term capital asset;Credit instruments: Expand capital sources through preferred stocks such as STRC and other financial tools;Equity value: Provide investors with Bitcoin exposure through MSTR stock and enhance shareholder value.Strategy is currently one of the public companies holding the largest amount of Bitcoin globally. In recent years, the company has raised funds through issuing stocks, convertible bonds, and preferred shares, using the proceeds to purchase BTC, forming a cycle of "capital market financing—accumulating Bitcoin—enhancing company value."Strategy founder Michael Saylor has long believed that Bitcoin is scarce capital in the digital age, and the company aims to position itself as a core platform connecting traditional capital markets with the Bitcoin economy by continuously expanding BTC reserves and innovating financial instruments.Market observers believe that Strategy's goal is not merely to become a Bitcoin-holding company, but to establish a new corporate capital structure with Bitcoin as the underlying asset.
According to Bloomberg, SoftBank Group will release its first-quarter earnings report in Tokyo this Thursday, with the market focusing on its latest progress in robotics, data centers, and energy sectors to assess whether the company's AI value surpasses its debt financing bet of up to $65 billion on OpenAI. Currently, there are expectations of delays to OpenAI's IPO timeline; if SoftBank can demonstrate substantial progress in the aforementioned emerging fields, it may effectively alleviate investors' concerns regarding its financing strategy.
Strategy Executive Chairman Michael Saylor confirmed that the company's Variable Rate Series A Perpetual Preferred Stock STRC will maintain a Stretch Dividend Rate of 12.00% in August 2026. STRC was launched in July 2025 with an initial rate of 9%, and has since seen seven consecutive monthly increases. STRC's dividend adjustment mechanism stipulates that when its trading price falls below $95, the dividend rate increases by 0.5%, and once triggered, the increase is irreversible even if the price recovers. Strategy resets this rate monthly to drive STRC's price closer to its $100 par value, and issues new shares through its ATM program to raise funds for Bitcoin purchases. STRC closed at $89.46 on July 31, down from the previous closing price of $89.50, approximately 10% to 11% below its $100 par value. The stock touched a low of $71.25 in June and has not returned to par value since mid-May. Strategy has paused new STRC issuance through its ATM program, limiting its ability to use this funding channel to increase its Bitcoin holdings. The company maintains a liquidity buffer covering approximately 26 months of dividend and interest obligations, and in late June, authorized a $2 billion preferred stock and common stock buyback and Bitcoin monetization program through the Digital Credit Capital Framework.
Odaily News, Strategy Executive Chairman Michael Saylor said at the company's Q2 earnings call that while the company has previously allocated nearly "100% of its funds to Bitcoin," it may adopt a combined strategy of holding both cash and BTC going forward. He stated, "Perhaps the best way to buy the most Bitcoin is not to buy the most Bitcoin immediately."TD Cowen and Benchmark both maintained their Buy ratings on Strategy following the Q2 earnings call. The two firms believe that the core goal of the company's current management has shifted toward bringing its STRC preferred stock price back to near par value, thereby restoring its ability to function as a financing tool.TD Cowen analyst Lance Vitanza said the most important takeaway from the call was management's strong focus on STRC. Company executives repeatedly emphasized that restoring STRC to par value is the core objective, and noted that despite recent price deviations in the security, institutional adoption continues to rise.Benchmark analyst Mark Palmer holds a similar view. He pointed out that Saylor and his team spent most of the 90-minute call focused on the same goal: restoring STRC to the $99–$100 range, making it once again the primary engine for the company to raise capital and purchase Bitcoin.
According to Bitcoin.com, Strategy Inc. (NASDAQ: MSTR) Executive Chairman Michael Saylor stated that since the company established Bitcoin as its primary reserve asset in August 2020, MSTR stock has achieved an annualized return of 42%, surpassing Bitcoin itself, the "Magnificent Seven" tech stocks, and the S&P 500 Index. As of July 29, Strategy holds 843,775 BTC, with a cumulative purchase cost of approximately $63.69 billion, and an average price of approximately $75,476 per coin, currently showing an unrealized loss of approximately 17.9% compared to the cost price (approximately $11.4 billion). To address the increasingly complex capital structure, Strategy launched three new metrics on July 24: Net BTC Per Share, BTC Hurdle ARR (minimum annualized return required to cover financing costs), and BTC Floor ARR (minimum annualized return required to maintain leverage ratio sustainability), to help investors more clearly assess the actual value of their Bitcoin holdings. Additionally, the company plans to provide funding for preferred stock repurchases through the future sale of a portion of its Bitcoin.
Odaily News As Bitcoin prices have experienced a significant correction, publicly listed companies that had accumulated large BTC holdings are facing multiple challenges, including falling stock prices, debt pressures, and a deteriorating financing environment. Some of these companies are now starting to sell Bitcoin, repay debts, and even pivot towards artificial intelligence (AI) data center operations.Strategy pioneered the "Digital Asset Treasury (DAT)" model, continuously purchasing Bitcoin through financing and borrowing, inspiring a wave of other listed companies to follow suit. However, as the BTC price has fallen approximately 50% from its peak of around $126,000 in October 2025, the stock prices of related companies have also shrunk significantly, forcing them to reassess their BTC accumulation strategies.This week, shareholders of London-listed company Satsuma Technology approved the liquidation of all 668 BTC, returning capital to shareholders, while proceeding with delisting. Another London-listed company, The Smarter Web Company, sold 178 BTC to repay its convertible debt.Additionally, Sequans Communications has sold 1,025 BTC and further sold nearly 80% of its remaining holdings to repay convertible bonds. The company stated it will not continue purchasing Bitcoin in the future and plans to sell the remaining approximately 658 BTC.Nakamoto's stock price has fallen approximately 99% since its SPAC listing in May 2025. The company recently sold about 284 BTC, raising approximately $20 million for working capital. Of its remaining approximately 5,342 BTC, nearly 70% has been pledged as collateral for loans from Kraken, which market observers believe poses a potential risk event.Meanwhile, Bitcoin mining companies are also adjusting their strategies. Companies like Bitdeer Technologies and MARA Holdings are selling portions of their BTC to repurchase shares, repay debts, and redirect energy resources and computing infrastructure towards AI data center operations.Other companies selling BTC include Empery Digital. Data shows that Strategy has recently sold approximately 3,620 BTC and has authorized further asset sales to maintain its U.S. dollar reserves.However, Strategy remains the world's largest corporate holder of Bitcoin, with holdings exceeding 840,000 BTC. The company's CEO, Michael Saylor, stated that while it may sell some Bitcoin in the future to pay dividends, this does not mean the company is exiting its Bitcoin investment.Beyond asset adjustments, management and capital operations at some Bitcoin treasury companies are also changing. Jack Mallers has stepped down as CEO; and Bitcoin Standard Treasury Company (BSTR), affiliated with Adam Back, failed to complete a proposed merger due to the deteriorating market environment.Analysts believe that with rising financing costs and increased BTC price volatility, the "borrowing to buy Bitcoin" treasury model is undergoing a reshuffle. Some companies are shifting from simply hoard
: Bitcoin financial product platform Lombard Finance has announced the launch of the Bitcoin Onchain Credit Strategy, with global trading firm Flow Traders as the first pilot partner. Under this solution, Flow Traders can borrow stablecoins for market making without providing on-chain collateral. Its collateral security is provided by Bitcoin deposited in the Lombard Bitcoin Earn yield product, and underwriting is completed through the Cap private credit platform. (The Block)
QCP Capital 发布报告指出，本周市场最明显的特征是“分歧”：在原油、利率、中国经济和加密货币资金面等领域，表面叙事与底层基本面出现明显背离。加密货币方面，Strategy 调整了融资路径，通过股权融资提升美元储备，而未动用其比特币持仓。
the South Korean government has announced the "2026 H2 Economic Growth Strategy," declaring it will accelerate three major "super projects" in semiconductors, AI data centers, and embodied AI. It also plans to enhance industrial competitiveness through blockchain and digital asset ecosystem development. According to the plan, South Korea aims to double its memory chip production capacity over the next five years and launch an AI chatbot for all citizens and a unified AI education platform in the second half of this year.Notably, the South Korean government proposed advancing large-scale demonstration projects for the blockchain and digital asset ecosystem in the second half of this year. It also intends to launch a blockchain-based pilot for tokenizing government bonds, exploring linkages with the Bank of Korea's institutional CBDC to drive financial infrastructure upgrades. Additionally, South Korea plans to establish strategic investment accounts and a national growth fund to expand long-term capital support for strategic industries such as artificial intelligence, quantum technology, security, and blockchain. (Etoday)
Strategy's newly launched Bitcoin Banking Adoption Index shows Fidelity leading at 71%, followed by BNY at 46% in second place, and Goldman Sachs at 45% in third. JPMorgan, Morgan Stanley, and Citigroup each stand at 43%. The index evaluates the adoption of Bitcoin-related services across trading, custody, digital asset products, financing, and corporate participation among 25 major global institutions, with an overall adoption rate of 32%.The remaining institutions scored between 13% and 38%, with Wells Fargo at 38%, Banco Santander and Société Générale both at 35%, Charles Schwab and TD Bank both at 32%, BNP Paribas, HSBC, Crédit Agricole, and UBS each at 30%, Bank of America, Barclays, and Standard Chartered each at 28%, State Street at 27%, Mizuho and Deutsche Bank both at 22%, MUFG at 18%, Lloyd’s at 17%, and SMBC and Royal Bank of Canada both at 13% (Bitcoin.com News).
Odaily Strategy sold nearly $467 million worth of MSTR common stock last week but did not increase its Bitcoin holdings. Analysts believe this indicates that the company is implementing its recently proposed Digital Credit Capital Framework and beginning to prioritize strengthening its balance sheet, rather than solely pursuing short-term BTC accumulation.According to the latest filings, Strategy has increased its U.S. dollar cash reserves to $3 billion, while its Bitcoin holdings remain unchanged at 843,775 BTC. Both Benchmark and TD Cowen believe this move strengthens the company's balance sheet and helps boost market confidence in its preferred equity financing model.TD Cowen reiterated its "Buy" rating and $260 price target for Strategy stock, stating that this operation is an early signal of management executing the new capital allocation framework. The firm noted that Strategy's choice to expand dollar reserves and pause Bitcoin purchases demonstrates a greater emphasis on balance sheet discipline rather than maximizing short-term BTC accumulation.Benchmark also maintained its "Buy" rating with a $570 price target. On Monday, Strategy's stock price traded at approximately $91.50, near its long-term low. Overall, analysts believe that amid pressure on preferred equity financing tools like STRC and market focus on dividend coverage capacity, Strategy's increase in cash reserves may help alleviate investor concerns regarding a forced sale of BTC.