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Michael Saylor looks back on “Bitcoin’s high-stakes gamble”: Strategy’s holdings expand to 840,000 coins, with reserve net worth exceeding its debt by $48 billion
Odaily Planet Daily News reports that Michael Saylor posted on X, recounting Strategy’s Bitcoin strategic journey. He said that when he delivered the relevant speech in October 2022, the price of Bitcoin was about $20,000. At that time, Strategy held 130,000 BTC, worth about $2.6 billion, and the stock MSTR (after share-split adjustments) was trading at about $24.
Michael Saylor said that a few weeks later, Bitcoin fell below $16,000, and the company’s debt at one point exceeded the combined total value of BTC and cash reserves by about $300 million. MSTR’s share price also dropped to around $13 by the end of 2022. Strategy then continued to adhere to its Bitcoin strategy, strengthen company operations, and keep raising financing to invest in BTC. Since 2022, the company has cumulatively raised more than $60 billion in new capital, which has been used to buy Bitcoin, increasing its additional holdings by more than 716,000 BTC.
Michael Saylor said that the value of the BTC and U.S. dollar reserves currently held by Strategy is now about $48 billion higher than the company’s debt, and he thanked investors who have supported the company over the long term, saying it will continue to follow a long-termism strategy in the future.