{"id":312673,"date":"2025-08-02T19:26:13","date_gmt":"2025-08-02T19:26:13","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/312673\/"},"modified":"2025-08-02T19:26:13","modified_gmt":"2025-08-02T19:26:13","slug":"strategy-owning-3-7-of-bitcoin-supply-is-not-too-much-michael-saylor","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/312673\/","title":{"rendered":"Strategy owning 3\u20137% of Bitcoin supply is not too much – Michael Saylor"},"content":{"rendered":"

\t\t\t\t\t\t\t\tKey Takeaways<\/p>\n

Saylor implied that there was nothing wrong with his firm eyeing 1.5 million BTC, or about 7% of the BTC total supply. The firm saw a profitable Q2, the first time following several red quarters.\u00a0<\/p>\n

Michael Saylor, chairman of Strategy (MicroStrategy), has downplayed concerns about the firm\u2019s aggressive Bitcoin [BTC]<\/a> buys, which now control 3% of the overall BTC supply.\u00a0<\/p>\n

In a recent CNBC interview, Saylor stated<\/a>,\u00a0<\/p>\n

\n

\u201cI don\u2019t think owning 3% to 7% of Bitcoin supply is too much. BlackRock has more than that.\u201d<\/p>\n<\/blockquote>\n

Strategy currently holds 628,791 BTC, about 3% of the overall BTC supply. A 7% target would imply owning 1,470,000 BTC or about 1.5 million coins.\u00a0<\/p>\n

\"Michael<\/a><\/p>\n

Source: Bitcoin Treasuries<\/p>\n

Record Q2 profit and BTC plans\u00a0<\/strong><\/p>\n

The firm also revealed a profitable Q2 during the latest earnings call<\/a> held on the 31st of July. It made $10 billion in net income in Q2, marking the first profitable quarter after a series of losses.\u00a0<\/p>\n

Additionally, its BTC holding gain hit $13.2 billion on a YTD (year-to-date) basis. The aggressive BTC acquisition has been funded through stock issuance and debt.\u00a0<\/p>\n

However, the ongoing sale of stocks to raise capital has led to share dilution amid a drop in mNAV (modified net asset value), an indicator that tracks the market value of a firm relative to its BTC holdings.\u00a0<\/p>\n

To prevent further dilution, Strategy said that it will only sell MSTR shares when the mNAV is above 2.5x. VanEck\u2019s Matthew Sigel hailed<\/a> the move as \u2018best in class\u2019 for MSTR treasury management.\u00a0\u00a0<\/p>\n

\"Michael<\/a><\/p>\n

Source: Excerpt from Strategy\u2019s earnings report<\/p>\n

At press time, the mNAV<\/a> was at 1.62x, down from the record level of 3.89x hit last November.<\/p>\n

Now, the firm will focus on the yield-bearing preferred perpetual stocks to raise the capital for BTC buys. They include Stretch [STRC], Strike [STRK], Stride [STRD], and Strife [STRF].
But Stretch [STRC] appeared to be the most favorable perpetual preferred stock, going by the largest $2.5 billion raise that was finalized<\/a> recently to buy over 21K BTC.\u00a0<\/p>\n

It has a variable yield based on market performance, and Saylor billed<\/a> it as a \u2018treasury BTC,\u2019 more like a money market fund. <\/p>\n

In contrast, he presented the common stock MSTR as \u2018amplified BTC\u2019 for those seeking a 2x BTC exposure.\u00a0<\/p>\n

In fact, Saylor viewed MSTR as undervalued at current levels, citing its $24B estimated net income and shared the firm\u2019s post that stated<\/a>,\u00a0<\/p>\n

\n

\u201cStrategy is misunderstood and undervalued $MSTR\u201d<\/p>\n<\/blockquote>\n

\"Michael<\/a><\/p>\n

Source: Strategy\/X<\/p>\n

In a note to clients, Wall Street analysts at Benchmark echoed the same and placed a buy rating for MSTR with a price target of $705, adding that,\u00a0<\/p>\n

\n

\u201cThe upshot is that MSTR is not just buying bitcoin anymore, but instead engineering a corporate treasury machine designed to generate Bitcoin-denominated returns, manage its capital raises with precision, and scale faster.\u201d<\/p>\n<\/blockquote>\n

At press time, MSTR was valued at $366.63, down 8.7% during the intra-day trading session on the 1st of August. <\/p>\n

BTC was down only 2% over the same period.\u00a0<\/p>\n

\"Michael<\/a><\/p>\n

Source: MSTR, TradingView\u00a0<\/p>\n

\t\t\t\t\t\t\t\t\t\t\tNext: Bitcoin prices dip! \u2013 Assessing if BTC can defend KEY support<\/a>\t\t\t\t\t\t\t\t\t\t<\/p>\n","protected":false},"excerpt":{"rendered":"Key Takeaways Saylor implied that there was nothing wrong with his firm eyeing 1.5 million BTC, or about…\n","protected":false},"author":2,"featured_media":312674,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[52,51,16,15],"class_list":{"0":"post-312673","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-ambcrypto","9":"tag-business","10":"tag-uk","11":"tag-united-kingdom"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/114960819020820744","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/312673","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=312673"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/312673\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/312674"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=312673"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=312673"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=312673"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}