Michael Saylor, Executive Chairman of Strategy (formerly MicroStrategy), has dismissed concerns that the firm holds too much Bitcoin.
In an Aug. 1 interview with CNBC, Saylor argued that owning 3% to 7% of the total Bitcoin supply is not excessive. Instead, he called it a balanced position that allows other institutions and individuals to participate.
Saylor also highlighted the growing interest from public companies. He said more than 160 firms now hold Bitcoin on their balance sheets, a sharp rise from about 60 last year. This growth, he added, is not limited to the US but includes firms across Europe and Asia.
According to him:
“The Bitcoin treasury movement is exploding, companies like MetaPlanet (Japan), Capital B (France), and Smarter Web (UK) are joining in.”
Strategy is currently the largest corporate holder of Bitcoin, holding over 628,000 BTC, valued at $72 billion. Based on data from Bitcoin Treasuries, this represents approximately 3% of Bitcoin’s total supply and more than half of all Bitcoin held by public companies.
Digital credit backed by Bitcoin
Beyond buying Bitcoin, Saylor pointed out that Strategy also creates financial products around the flagship digital asset.
According to him, the company is building a financial ecosystem around the asset by issuing credit instruments backed by its Bitcoin treasury. Depending on their risk appetite, these products offer different ways for investors to gain exposure.
For context, the firm’s latest offering, a preferred equity called Stretch, is a way to issue digital credit backed by digital capital. The product targets investors seeking monthly income, capital protection, and less exposure to market swings.
According to Saylor, the offering delivers a 9% annual dividend, a figure he contrasts with the average 4% yield in money markets. He claimed that such yields are made possible by Bitcoin’s long-term appreciation potential, which he estimates at 30% annually over the next two decades.
Saylor also highlighted Strike as another offering designed to attract investors to the sector.
He pointed out that the company offers products like Strike for more risk-managed returns, while adding that:
“Strike gives you 80% of the upside, 20% in a structured dividend, and principal protection. It’s for investors used to hedge funds or the S&P.”
Moreover, Saylor described Bitcoin as “a digital commodity with 50% volatility and a 50-year duration.” For investors seeking amplified exposure, Strategy’s equity offers “2x Bitcoin,” a structure attractive to derivatives traders.
