Saylor Clarifies Strategy’s Bitcoin Game Plan: “We’re Not Hoarding It All”

Summary: Michael Saylor, executive chairman of Strategy (formerly MicroStrategy), has reaffirmed the firm’s aggressive Bitcoin acquisition strategy, emphasizing that the company isn’t monopolizing the asset but building a business ecosystem around it. With over 628,000 BTC in its treasury, Strategy is utilizing innovative fundraising methods to expand its holdings and influence.

Background: Strategy’s Evolving Bitcoin Model

During a recent interview on CNBC’s “Squawk Box,” Saylor described Bitcoin as “digital capital” and revealed Strategy’s total holdings now exceed 628,000 BTC—valued around $72 billion. The company has shifted its identity from a software firm to a Bitcoin-focused enterprise. Its most recent purchase of 21,021 BTC on July 29 was funded through a record $2.5 billion IPO of Series A Perpetual Preferred Stock, priced at $90 per share.

Bitcoin-Funded IPOs Now a Core Strategy

Saylor outlined how Strategy has executed four major capital raises in 2025 alone—two at $500 million each, one at $1 billion, and the latest stretching to $2.5 billion, the year’s largest IPO to date. The company channels these funds directly into Bitcoin purchases, positioning this approach as a mechanism to transform volatile digital assets into structured securities palatable to institutional investors. The newly launched product, dubbed “Stretch” (STRC), is being touted as Strategy’s most compelling investment vehicle yet.

Growing Institutional Involvement in Bitcoin

The corporate adoption of Bitcoin is gaining momentum, Saylor noted. Over 160 publicly traded companies now hold BTC in treasury, up from 60 a year ago. Collectively, public firms control more than 955,000 BTC—approximately 4.55% of Bitcoin’s total future supply—demonstrating a growing institutional shift from traditional reserve assets.

Saylor argued that Bitcoin is “demonetizing” legacy assets like gold, real estate, and equities. As more companies seek alternatives to low-yielding assets, Bitcoin is rising as a preferred store of value for long-term capital preservation and shareholder returns.

Saylor: “We’re Not Trying to Own It All”

Despite commanding nearly 3% of Bitcoin’s total supply, Saylor dismissed the notion that Strategy is attempting to corner the market. He emphasized that the company welcomes broader institutional participation, citing BlackRock’s iShares Bitcoin Trust (IBIT) as an example—it holds around 740,896 BTC, surpassing Strategy’s total.

He also addressed why major tech firms like Apple and Microsoft don’t follow suit in Bitcoin accumulation, pointing to SEC regulations that prevent corporations from investing in one another’s stock. Without these restrictions, Saylor believes such companies could pivot to Bitcoin with their surplus capital.

Featured image: Joe Raedle/Getty Images; Chart: TradingView