Saylor, Strategy Reaffirm Bitcoin Focus as Securities Slide

On June 26, Michael Saylor, Strategy’s executive chairman, posted on X that volatility tests capital structures and outlined the company’s priorities: bitcoin focus, disciplined capital allocation, credit quality and long-term value creation. He wrote that management will continue to operate with transparency and resolve. In a separate post Saylor described STRC, the company’s preferred stock tied to its bitcoin holdings, as part of an income product suite, writing, “Digital Credit is income for investors who believe in bitcoin.”

Phong Le, Strategy’s president and CEO, wrote that global markets face “unprecedented uncertainty” and that the firm accumulated roughly 4% of the world’s bitcoin to hold through periods of market stress. In a June 24 post Le linked bitcoin to broader technology trends, writing, “Bitcoin and AI are the two most transformative technologies of the 21st century. Markets rarely appreciate transformative technologies in a straight line.”

Strategy’s securities have weakened in recent weeks. The company’s common shares (MSTR) closed at $82.31 on June 26, down about 47.5% over the previous month and about 48.5% over six months. STRC preferred shares ended at $74.57 on June 26, extending a one-month decline near 25% and a six-month loss near 24.7%.

The company has built a treasury approach centered on acquiring bitcoin and offering preferred securities linked to that exposure. Management has promoted STRC as an income-generating instrument within its preferred securities and emphasized disciplined capital allocation, attention to credit quality and a long-term view for bitcoin on the balance sheet. On June 10 the company said it is the largest holder and purchaser of bitcoin and that it intends to continue buying.

The posts from Saylor and Le restate the company’s priorities as it manages market volatility and investor attention to its bitcoin holdings and capital structure.