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Monsterra is a free-to-play, blockchain-based game inspired by the pet world of Axie Infinity and the gameplay of Clash of Clans or Boom Beach by Supercell.
Strategy states that MSTR's annualized return has reached 42% since adopting Bitcoin reserves, but its holdings remain at an unrealized loss of approximately $18 billion.
According to Bitcoin.com, Strategy Inc. (NASDAQ: MSTR) Executive Chairman Michael Saylor stated that since the company established Bitcoin as its primary reserve asset in August 2020, MSTR stock has achieved an annualized return of 42%, surpassing Bitcoin itself, the "Magnificent Seven" tech stocks, and the S&P 500 Index. As of July 29, Strategy holds 843,775 BTC, with a cumulative purchase cost of approximately $63.69 billion, and an average price of approximately $75,476 per coin, currently showing an unrealized loss of approximately 17.9% compared to the cost price (approximately $11.4 billion). To address the increasingly complex capital structure, Strategy launched three new metrics on July 24: Net BTC Per Share, BTC Hurdle ARR (minimum annualized return required to cover financing costs), and BTC Floor ARR (minimum annualized return required to maintain leverage ratio sustainability), to help investors more clearly assess the actual value of their Bitcoin holdings. Additionally, the company plans to provide funding for preferred stock repurchases through the future sale of a portion of its Bitcoin.
Opinion: Strategy Goes One Week Without Buying BTC; Analysts Say It Shows Stronger Balance Sheet Discipline
Odaily Strategy sold nearly $467 million worth of MSTR common stock last week but did not increase its Bitcoin holdings. Analysts believe this indicates that the company is implementing its recently proposed Digital Credit Capital Framework and beginning to prioritize strengthening its balance sheet, rather than solely pursuing short-term BTC accumulation.According to the latest filings, Strategy has increased its U.S. dollar cash reserves to $3 billion, while its Bitcoin holdings remain unchanged at 843,775 BTC. Both Benchmark and TD Cowen believe this move strengthens the company's balance sheet and helps boost market confidence in its preferred equity financing model.TD Cowen reiterated its "Buy" rating and $260 price target for Strategy stock, stating that this operation is an early signal of management executing the new capital allocation framework. The firm noted that Strategy's choice to expand dollar reserves and pause Bitcoin purchases demonstrates a greater emphasis on balance sheet discipline rather than maximizing short-term BTC accumulation.Benchmark also maintained its "Buy" rating with a $570 price target. On Monday, Strategy's stock price traded at approximately $91.50, near its long-term low. Overall, analysts believe that amid pressure on preferred equity financing tools like STRC and market focus on dividend coverage capacity, Strategy's increase in cash reserves may help alleviate investor concerns regarding a forced sale of BTC.
Strategy Raises $466 Million via ATM Plan, BTC Holdings Unchanged Last Week
During the week ended July 12, Strategy sold approximately 4.82 million shares of MSTR stock through an ATM (at-the-market) program, raising net proceeds of approximately $466.7 million. During the same period, Strategy did not make any Bitcoin purchases, with holdings remaining unchanged at 843,775 BTC.
MSTR CEO: Underestimated market valuation of company's dollar reserves; using reserves to repay convertible bonds led to STRC decline
Odaily Odaily News: MSTR CEO Phong Le admitted that he underestimated the market's valuation of the company's dollar reserves. He explained that using dollar reserves to repay convertible bonds raised market concerns and led to the decline of STRC. (Bitcoin News)
Cantor Fitzgerald: Bullish on MSTR and BTC Correlation Recovery, STRC Key to Restarting Capital Engine
Wall Street investment bank Cantor Fitzgerald stated that the key to Strategy restarting its capital expansion cycle lies in restoring its preferred stock STRC back to the $100 par value level. The bank pointed out that repairing the STRC price is a core prerequisite for restarting the company's Bitcoin accumulation "capital engine" and will help stabilize the overall capital structure.After a meeting with Executive Chairman Michael Saylor, Cantor Fitzgerald expressed increased confidence in management's plans to stabilize the balance sheet and restore financing capabilities. In the current market, STRC is trading at approximately $87.79, Strategy's stock price fell 3.4% to $97.34, while Bitcoin is trading around $61,800.Cantor believes that STRC is the foundational tool of Strategy's financing system, and its repair will drive benefits for both preferred and common shares, further enhancing the company's ability to continue accumulating Bitcoin. Currently, Strategy has raised approximately $216 million through Bitcoin sales to fund preferred stock dividends and is expected to continue increasing its cash reserves to support dividend stability. (CoinDesk)
Analysis: Strategy Capital Restructuring Alleviates Short-Term Liquidity Pressure, But Structural Risks Remain
Odaily Odaily News, Galaxy Research Head Alex Thorn stated that the capital management reforms recently launched by Michael Saylor's Strategy (MSTR) have effectively eased market concerns over its liquidity and preferred stock system pressure in the short term. However, he noted these measures are more about "buying time" rather than fundamentally resolving structural issues.Over the past few weeks, Strategy has faced pressure on its "Digital Credit" preferred stock system. Its STRC ("Stretch" preferred shares) fell below par value, hitting a low of approximately $71.25, raising market concerns about Bitcoin price declines, shrinking dollar reserves, and the company's ability to pay preferred stock dividends. Subsequently, market discussions focused on three stress scenarios: selling Bitcoin, issuing additional MSTR shares (diluting existing shareholders), or cutting/suspending preferred stock dividends.In response, Strategy announced a comprehensive capital management restructuring on Monday, introducing a "Digital Credit Capital Framework." This includes five key tools: a board-approved dollar reserve policy, an adjustment to the STRC dividend mechanism, a $1 billion preferred stock buyback authorization, a $1 billion MSTR common stock buyback authorization, and a Bitcoin monetization mechanism. Concurrently, the company increased the annualized dividend rate on STRC from 11.5% to 12%.The market reacted positively, with both MSTR and STRC seeing significant gains that day, and Bitcoin also rebounded alongside.Alex Thorn pointed out that this adjustment has improved market sentiment in the short term, extending Strategy's cash coverage cycle to approximately 17 months and enhancing its capital buffer through new financing. However, the company still faces approximately $6.7 billion in convertible bond maturities during 2027-2028, meaning long-term structural risks persist. The core issue is not whether Strategy holds enough Bitcoin (approximately 847,000 BTC), but rather that its dollar liquidity is insufficient to cover preferred stock and capital structure obligations without harming the interests of any party, leading to a squeeze between different classes of shareholders.Nonetheless, the key significance of this adjustment lies in enhancing the "optionality" of the company's capital tools. It shifts Strategy from a single-direction Bitcoin accumulation strategy towards a more proactive asset-liability management model, thereby preventing short-term liquidity issues from evolving into a systemic crisis. Although the current Bitcoin market environment is relatively weak and may not have bottomed out yet, Strategy's new framework has, to some extent, bought the company a window of time to wait for more favorable market conditions.
Strategy, holding 847,363 BTC, advised to generate income through lending or options instead of selling BTC
Odaily Planet Daily reported that Alex Thorn, Head of Research at Galaxy Digital, stated in a research report on July 3rd that Strategy should explore generating income from its BTC holdings rather than directly selling spot BTC. Strategy previously launched the five-part Digital Credit Capital Framework, which includes a dollar reserve policy, a revised STRC dividend policy, a $1 billion preferred stock repurchase authorization, a $1 billion MSTR stock repurchase authorization, and a BTC monetization plan, while raising the annual STRC dividend rate from 11.5% to 12%. Strategy currently holds 847,363 BTC and has raised over $1 billion through common stock sales, extending its cash coverage period to approximately 17 months. Thorn stated that Strategy could allocate a small portion of its BTC for conservative lending or options strategies, generating income while retaining most of the upside exposure. Strategy still faces preferred stock obligations and $6.7 billion in outstanding convertible debt maturing between 2027 and 2028. (Bitcoin.com News).
Analysis: Strategy Capital Restructuring Alleviates Short-Term Liquidity Pressure, But Structural Risks Remain
Odaily Odaily News, Galaxy Research Head Alex Thorn stated that the capital management reforms recently launched by Michael Saylor's Strategy (MSTR) have effectively eased market concerns over its liquidity and preferred stock system pressure in the short term. However, he noted these measures are more about "buying time" rather than fundamentally resolving structural issues.Over the past few weeks, Strategy has faced pressure on its "Digital Credit" preferred stock system. Its STRC ("Stretch" preferred shares) fell below par value, hitting a low of approximately $71.25, raising market concerns about Bitcoin price declines, shrinking dollar reserves, and the company's ability to pay preferred stock dividends. Subsequently, market discussions focused on three stress scenarios: selling Bitcoin, issuing additional MSTR shares (diluting existing shareholders), or cutting/suspending preferred stock dividends.In response, Strategy announced a comprehensive capital management restructuring on Monday, introducing a "Digital Credit Capital Framework." This includes five key tools: a board-approved dollar reserve policy, an adjustment to the STRC dividend mechanism, a $1 billion preferred stock buyback authorization, a $1 billion MSTR common stock buyback authorization, and a Bitcoin monetization mechanism. Concurrently, the company increased the annualized dividend rate on STRC from 11.5% to 12%.The market reacted positively, with both MSTR and STRC seeing significant gains that day, and Bitcoin also rebounded alongside.Alex Thorn pointed out that this adjustment has improved market sentiment in the short term, extending Strategy's cash coverage cycle to approximately 17 months and enhancing its capital buffer through new financing. However, the company still faces approximately $6.7 billion in convertible bond maturities during 2027-2028, meaning long-term structural risks persist. The core issue is not whether Strategy holds enough Bitcoin (approximately 847,000 BTC), but rather that its dollar liquidity is insufficient to cover preferred stock and capital structure obligations without harming the interests of any party, leading to a squeeze between different classes of shareholders.Nonetheless, the key significance of this adjustment lies in enhancing the "optionality" of the company's capital tools. It shifts Strategy from a single-direction Bitcoin accumulation strategy towards a more proactive asset-liability management model, thereby preventing short-term liquidity issues from evolving into a systemic crisis. Although the current Bitcoin market environment is relatively weak and may not have bottomed out yet, Strategy's new framework has, to some extent, bought the company a window of time to wait for more favorable market conditions.
FBI Director Kash Patel Criticized by Government Watchdog for Delayed Disclosure of Six-Figure MSTR Holdings
According to CoinDesk, FBI Director Kash Patel purchased stock in Bitcoin-holding company Strategy (MSTR) for between $100,000 and $250,000 on November 21, 2025, but did not disclose it to regulators until May 26, 2026, a delay of over 6 months, violating the 45-day disclosure deadline stipulated by the Stop Trading on Congressional Knowledge Act (STOCK Act). Patel later explained to the Office of Government Ethics that it was an unintentional omission caused by "miscommunication." Dylan Hedtler-Gaudette of government watchdog Project on Government Oversight bluntly criticized his behavior as "illegal," and called for a comprehensive ban on federal officials trading stocks. Deputy Assistant Attorney General William Taylor of the Department of Justice stated in a letter on May 28 that the transaction did not constitute a conflict of interest, and the DOJ has not yet fined him.
Rosen Law Firm Investigates Michael Saylor's Strategy Over Potential Securities Fraud Allegations
law firm Rosen Law Firm has announced an investigation into Michael Saylor's company Strategy (MSTR) and STRC, concerning potential securities law claims. According to the law firm, Strategy "may have issued materially misleading business information to the investing public," and is therefore evaluating related investor losses and potential legal liabilities.
Analysis: Ceasefire in the Middle East and Fed Decision Set to Influence Crypto Market, Geopolitical Risks and Rate Path in Focus This Week
the crypto market hopes to shake off months of geopolitical pressure this week. Following a temporary peace agreement between the US and Iran, Bitcoin rose to near $66,000 on Monday, up about 3.5% from Friday. Crypto-related stocks such as Strategy (MSTR) and Galaxy Digital (GLXY) also advanced in pre-market trading.However, the market remains cautious, as past ceasefire agreements have often collapsed. The April truce failed to hold, and last month's US military action broke another round of peace talks, which also dragged down crypto asset prices at the time.This week, the spotlight will shift to the Federal Reserve's interest rate decision. On Wednesday, Fed Chair Kevin Warsh will preside over the first rate-setting meeting, with the market widely expecting the Fed to hold rates steady in the 3.50%-3.75% range.Analysts point out that the release of the new “dot plot” (showing Fed officials' interest rate expectations) and the shortened trading day due to the Juneteenth holiday on Friday could reduce market liquidity. This week's economic data and Fed policy guidance will determine whether the crypto market can sustain a rebound on the back of easing geopolitical risks. (CoinDesk)
Grayscale: Strategy’s Bitcoin Sales Amplify Market Volatility, Future Accumulation Capacity May Be Limited
Zach Pandl, Head of Research at Grayscale Research, stated that the market experienced a new wave of volatility following Strategy's disclosure on June 1st of selling 32 Bitcoin. Although the sale is negligible compared to its holdings of approximately 840,000 Bitcoin (worth about $55 billion), this rare reduction move still impacted market sentiment.Pandl pointed out that the more noteworthy development is the performance of Strategy’s Variable Rate Preferred Stock STRC (Stretch). The product has a design target price of around $100 and currently offers a dividend yield of 11.5%. When the stock price falls below $100, it indicates that investors are demanding a higher rate of return, which may force the company to increase dividend levels. This would increase future cash flow pressure and potentially compel it to sell more Bitcoin for fundraising, further weighing on BTC prices. Strategy's leveraged Bitcoin reserve model is facing challenges. At current STRC and MSTR share price levels, the company's ability to continue large-scale Bitcoin accumulation may be constrained.However, Pandl noted that in the long term, the migration of Bitcoin holdings from highly leveraged digital asset reserve companies to more diversified corporate balance sheets will help enhance market resilience and improve Bitcoin's long-term value support. He expects Bitcoin to resume its upward trend in the coming months, but its near-term performance may lag behind crypto asset sectors that benefit more directly from regulatory clarity.
The Netherlands' fifth-largest asset manager Robeco increases its stake in Strategy by 11%, with holdings reaching $13.1 million
BitcoinTreasuries.NET posted on platform X, stating that the Netherlands' fifth-largest asset manager, Robeco, has disclosed an 11% increase in its holdings of Bitcoin treasury company Strategy (MSTR). The total holdings now stand at 133,755 shares, valued at $13.1 million. Institutional capital is flowing into BTC through treasury companies.
Strategy's Bitcoin holdings now showing $9.05B unrealized loss, Bitmine's Ethereum holdings show $8.643B unrealized loss
according to on-chain analyst Yujin's monitoring, Bitcoin treasury company Strategy (MSTR) now holds a total of 843,775 BTC ($54.634 billion), with an average cost price of $75,476, and an unrealized loss of $9.05 billion (-14.2%). Ethereum treasury company Bitmine (BMNR) purchased 7,430 ETH ($13.68 million) last week at approximately $1,842 each. They now hold a total of 5,777,468 ETH ($10.861 billion), with an average cost price of $3,376, and an unrealized loss of $8.643 billion (-44.3%).
NYDIG: Leverage Rather Than Spot Demand Drives Bitcoin, Value and Momentum Buyers Still on the Sidelines
According to the NYDIG research report (Author: Greg Cipolaro, July 10, 2026), Bitcoin fell 13.4% in the second quarter of 2026, with year-to-date losses expanding to 32.9%, while the Nasdaq 100 Index rose 27.7% and tech stocks surged 43.5% during the same period, indicating that this decline was not due to macro risk aversion, but rather Bitcoin-specific supply pressure. The core pressure stems from Strategy (MSTR) launching the "Digital Credit Capital Framework," authorizing the sale of approximately $1.25 billion worth of Bitcoin to cover capital structure obligations, marking a shift of the largest historical marginal buyer from continuous accumulation to active monetization, and the DAT complex overall turning from a demand engine to a supply risk. Regarding ETFs, U.S. spot Bitcoin ETFs saw a net outflow of $4.9 billion in the second quarter, but the Morgan Stanley Bitcoin Trust attracted $364.8 million in inflows against the trend, showing distribution channels remain competitive. Regarding the derivatives market, against the backdrop of weak spot demand and continuous outflows from ETFs and stablecoins, positive funding rates coupled with rising open interest indicate leveraged longs are rebuilding positions, posing a risk of passive liquidation triggering a new round of declines. Bitcoin has currently fallen 54.3% cumulatively from the all-time high of $126,000 set on October 6, 2025; if referencing the 2018 and 2022 cycles (gradually narrowing declines of approximately 70%, approximately 370
Opinion: Strategy Goes One Week Without Buying BTC; Analysts Say It Shows Stronger Balance Sheet Discipline
Odaily Strategy sold nearly $467 million worth of MSTR common stock last week but did not increase its Bitcoin holdings. Analysts believe this indicates that the company is implementing its recently proposed Digital Credit Capital Framework and beginning to prioritize strengthening its balance sheet, rather than solely pursuing short-term BTC accumulation.According to the latest filings, Strategy has increased its U.S. dollar cash reserves to $3 billion, while its Bitcoin holdings remain unchanged at 843,775 BTC. Both Benchmark and TD Cowen believe this move strengthens the company's balance sheet and helps boost market confidence in its preferred equity financing model.TD Cowen reiterated its "Buy" rating and $260 price target for Strategy stock, stating that this operation is an early signal of management executing the new capital allocation framework. The firm noted that Strategy's choice to expand dollar reserves and pause Bitcoin purchases demonstrates a greater emphasis on balance sheet discipline rather than maximizing short-term BTC accumulation.Benchmark also maintained its "Buy" rating with a $570 price target. On Monday, Strategy's stock price traded at approximately $91.50, near its long-term low. Overall, analysts believe that amid pressure on preferred equity financing tools like STRC and market focus on dividend coverage capacity, Strategy's increase in cash reserves may help alleviate investor concerns regarding a forced sale of BTC.
Standard Chartered: Maintains Bitcoin Price Forecast of $100,000 by End of 2026
Odaily Odaily Planet Daily reported that Geoffrey Kendrick, Global Head of Digital Asset Research at Standard Chartered, stated that the market has misinterpreted Michael Saylor's adjustments to Strategy Inc.'s bitcoin strategy, and the recent selling pressure stems from confusion over this strategy rather than a change in bitcoin's long-term outlook. Strategy Inc. is shifting bitcoin from being a reserve accumulation asset to serving as collateral to support its STRC preferred stock. Kendrick maintains the bitcoin price forecast of $100,000 by the end of 2026. As of press time, BTC was trading at $64,322.89, and Strategy's stock MSTR closed at $94.64 on Friday. The outstanding notional value of STRC is approximately $10 billion, which Kendrick believes makes the preferred stock heavily overcollateralized due to its bitcoin backing. (Bitcoin.com News).
Strategy currently has an unrealized loss of $11.341 billion, while Bitmine has an unrealized loss of $9.406 billion
According to monitoring by on-chain analyst Ember, Bitcoin treasury company Strategy (MSTR) sold 3,588 BTC ($216 million) at a price of $60,197 last week. They currently hold 843,775 BTC ($52.343 billion) with an average cost of $75,476, resulting in an unrealized loss of $11.341 billion (-17.8%).Ethereum treasury company Bitmine (BMNR) purchased 42,197 ETH ($69.03 million) at approximately $1,636 last week. They now hold a total of 5,742,237 ETH ($10.037 billion) with an average cost of $3,386, resulting in an unrealized loss of $9.406 billion (-48.4%).
3800 monthly active users can access, Strategy MSTR enables 24/7 trading on Solana tokenization
BitcoinTreasuries.NET posted on X, stating that Strategy MSTR has been tokenized on Solana, supporting 24/7 trading; 38 million monthly active users can now access the largest corporate Bitcoin reserve and fully redeem it to traditional brokerage accounts.
Strategy states that MSTR's annualized return has reached 42% since adopting Bitcoin reserves, but its holdings remain at an unrealized loss of approximately $18 billion.
According to Bitcoin.com, Strategy Inc. (NASDAQ: MSTR) Executive Chairman Michael Saylor stated that since the company established Bitcoin as its primary reserve asset in August 2020, MSTR stock has achieved an annualized return of 42%, surpassing Bitcoin itself, the "Magnificent Seven" tech stocks, and the S&P 500 Index. As of July 29, Strategy holds 843,775 BTC, with a cumulative purchase cost of approximately $63.69 billion, and an average price of approximately $75,476 per coin, currently showing an unrealized loss of approximately 17.9% compared to the cost price (approximately $11.4 billion). To address the increasingly complex capital structure, Strategy launched three new metrics on July 24: Net BTC Per Share, BTC Hurdle ARR (minimum annualized return required to cover financing costs), and BTC Floor ARR (minimum annualized return required to maintain leverage ratio sustainability), to help investors more clearly assess the actual value of their Bitcoin holdings. Additionally, the company plans to provide funding for preferred stock repurchases through the future sale of a portion of its Bitcoin.
Saylor sells 3,500 Bitcoin; DylanLeclair says the market didn't notice until Strategy disclosed it.
Odaily News: BitcoinTreasuries.NET posted on X platform that Metaplanet's DylanLeclair stated the market did not notice Saylor selling 3,500 Bitcoin until Strategy MSTR released its disclosure document. He also noted that looking back in the future, this will be one of the reasons for STRK’s strong trading performance. Strategy did not issue new shares, and dividends are still being paid.
MGBX will list stock tokens in batches
According to official sources, MGBX will batch list stock token trading pairs including NVDA/USDT, SPCX/USDT, MUB/USDT, CRCL/USDT, SNDK/USDT, TSLA/USDT, AMD/USDT, EWY/USDT, INTC/USDT, MSTR/USDT, META/USDT, LITE/USDT, MSFT/USDT, PLTR/USDT, QQQ/USDT, CBRS/USDT, COIN/USDT, DRAM/USDT, GLW/USDT, GOOGL/USDT, NBIS/USDT, QCOM/USDT, SOXL/USDT, SPY/USDT, WDC/USDT, and SKHY/USDT starting at 18:00 (SGT) on July 27, 2026. The trading will open at 18:00 (SGT) on July 27, 2026.
Coinbase 将于 7月 21 日上线 CRCL、HOOD、MSTR 永续合约交易
Coinbase announces it will list perpetual contract products related to CRCL, Robinhood (HOOD), and MicroStrategy (MSTR). The platform plans to open trading for the three perpetual contract markets, CRCL-PERP, HOOD-PERP, and MSTR-PERP, at or after 9:00 UTC on July 21 (17:00 Beijing Time on the 21st).
Coinbase to Launch Perpetual Contract Trading for CRCL, HOOD, MSTR
Coinbase has announced the upcoming listing of perpetual contract products related to CRCL, Robinhood (HOOD), and MicroStrategy (MSTR). The platform plans to open trading for the CRCL-PERP, HOOD-PERP, and MSTR-PERP perpetual contract markets on or after July 21 at 9:00 UTC (17:00 Beijing time on the 21st).
Related news
Strategy CEO says the company's focus is to bring STRC back to par value
Odaily Planet Daily reported that BitcoinTreasuries.NET posted on X platform, stating that Strategy MSTR CEO Phong Le said, "Bringing STRC back to par value is the company's priority. We will increase dollar reserves, maintain the dividend yield, and repurchase STRC when appropriate to achieve this goal."
New York State Pension Fund Still Holds $29.8 Million in Strategy Stock, Sells $1.06 Million in MSTR
BitcoinTreasuries.NET posted on X platform, stating that the New York State Pension Fund has just disclosed the sale of 11,400 MSTR shares, worth $1.06 million. It currently still holds 319,850 shares of Strategy stock, valued at $29.8 million, with 1.2 million employees retaining Bitcoin exposure.
Strategy will hold its Q2 2026 earnings call
BitcoinTreasuries.NET posted on X platform, stating that Strategy (MSTR) will hold its Q2 2026 earnings call today at 5:00 PM Eastern Time. The call will cover financials, digital products and business models, as well as capital market strategies. Since last year's earnings call, its Bitcoin holdings have increased by 215,000 BTC to 843,800 BTC.
3800 monthly active users can access, Strategy MSTR enables 24/7 trading on Solana tokenization
BitcoinTreasuries.NET posted on X, stating that Strategy MSTR has been tokenized on Solana, supporting 24/7 trading; 38 million monthly active users can now access the largest corporate Bitcoin reserve and fully redeem it to traditional brokerage accounts.
The Netherlands' fifth-largest asset manager Robeco increases its stake in Strategy by 11%, with holdings reaching $13.1 million
BitcoinTreasuries.NET posted on platform X, stating that the Netherlands' fifth-largest asset manager, Robeco, has disclosed an 11% increase in its holdings of Bitcoin treasury company Strategy (MSTR). The total holdings now stand at 133,755 shares, valued at $13.1 million. Institutional capital is flowing into BTC through treasury companies.
Strategy states that MSTR's annualized return has reached 42% since adopting Bitcoin reserves, but its holdings remain at an unrealized loss of approximately $18 billion.
According to Bitcoin.com, Strategy Inc. (NASDAQ: MSTR) Executive Chairman Michael Saylor stated that since the company established Bitcoin as its primary reserve asset in August 2020, MSTR stock has achieved an annualized return of 42%, surpassing Bitcoin itself, the "Magnificent Seven" tech stocks, and the S&P 500 Index. As of July 29, Strategy holds 843,775 BTC, with a cumulative purchase cost of approximately $63.69 billion, and an average price of approximately $75,476 per coin, currently showing an unrealized loss of approximately 17.9% compared to the cost price (approximately $11.4 billion). To address the increasingly complex capital structure, Strategy launched three new metrics on July 24: Net BTC Per Share, BTC Hurdle ARR (minimum annualized return required to cover financing costs), and BTC Floor ARR (minimum annualized return required to maintain leverage ratio sustainability), to help investors more clearly assess the actual value of their Bitcoin holdings. Additionally, the company plans to provide funding for preferred stock repurchases through the future sale of a portion of its Bitcoin.