Michael Saylor: Bitcoin Strategy Adds About $48 Billion to Balance Sheet Compared to Debt

BlockBeats News, June 20th, Strategy founder Michael Saylor stated on social media that in October 2022, he gave a speech when the price of Bitcoin was close to $20,000. At that time, Strategy held 130,000 BTC, worth around $26 billion, while MSTR was around $24 after a stock split. Several weeks later, Bitcoin dropped below $16,000, and Strategy's total debt temporarily exceeded the combined value of its held Bitcoin and cash reserves, which was around $3 billion, while MSTR's stock price fell to around $13 by the end of the year.

Strategy has always stayed focused, strengthened its fundamentals, and continued to execute its established strategy. Since then, Strategy has raised over $60 billion, all of which has been used to acquire more Bitcoin, increasing its holdings by over 716,000 BTC. Today, Strategy's Bitcoin and USD reserves exceed its debt by approximately $48 billion. Thanks to everyone who believes in Strategy, stays committed, and takes a long-term view.

Previously reported, the "Stretch" variable-rate perpetual preferred stock STRC issued by Strategy severely deviated from its peg and hit a recent low of 88.62 USD at the close of the week. The company claimed that it could "pay dividends for 32 years by selling Bitcoin" in an attempt to stabilize the market. STRC is the preferred stock Strategy issued to the market to finance the purchase of Bitcoin. Its face value is roughly pegged at $100, offering a high dividend yield. The dividend rate will adjust based on the price situation, aiming to keep it trading close to the face value.