Strategy
Analytics and business intelligence company (Nasdaq: MSTR)
News Heat Trend
Project Overview
Strategy (Nasdaq: MSTR) is an independent, publicly-traded analytics and business intelligence company. It follows two corporate strategies: (1) to grow its enterprise analytics software business to realize the vision of Intelligence Everywhere, and (2) to acquire and hold Bitcoin, which it sees as a reliable store of value, backed by a robust, public, open-source architecture, independent of sovereign monetary policy.
Analysts Support Strategy Increasing Cash Holdings, Saylor Says No Longer "100% Allocating to Bitcoin" in the Future
Odaily News, Strategy Executive Chairman Michael Saylor said at the company's Q2 earnings call that while the company has previously allocated nearly "100% of its funds to Bitcoin," it may adopt a combined strategy of holding both cash and BTC going forward. He stated, "Perhaps the best way to buy the most Bitcoin is not to buy the most Bitcoin immediately."TD Cowen and Benchmark both maintained their Buy ratings on Strategy following the Q2 earnings call. The two firms believe that the core goal of the company's current management has shifted toward bringing its STRC preferred stock price back to near par value, thereby restoring its ability to function as a financing tool.TD Cowen analyst Lance Vitanza said the most important takeaway from the call was management's strong focus on STRC. Company executives repeatedly emphasized that restoring STRC to par value is the core objective, and noted that despite recent price deviations in the security, institutional adoption continues to rise.Benchmark analyst Mark Palmer holds a similar view. He pointed out that Saylor and his team spent most of the 90-minute call focused on the same goal: restoring STRC to the $99–$100 range, making it once again the primary engine for the company to raise capital and purchase Bitcoin.
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.
Bitcoin Treasury Companies Shift Strategy: Selling BTC, Repaying Debt, and Betting on AI as Stock Plunges Force Strategic Pivot
Odaily News As Bitcoin prices have experienced a significant correction, publicly listed companies that had accumulated large BTC holdings are facing multiple challenges, including falling stock prices, debt pressures, and a deteriorating financing environment. Some of these companies are now starting to sell Bitcoin, repay debts, and even pivot towards artificial intelligence (AI) data center operations.Strategy pioneered the "Digital Asset Treasury (DAT)" model, continuously purchasing Bitcoin through financing and borrowing, inspiring a wave of other listed companies to follow suit. However, as the BTC price has fallen approximately 50% from its peak of around $126,000 in October 2025, the stock prices of related companies have also shrunk significantly, forcing them to reassess their BTC accumulation strategies.This week, shareholders of London-listed company Satsuma Technology approved the liquidation of all 668 BTC, returning capital to shareholders, while proceeding with delisting. Another London-listed company, The Smarter Web Company, sold 178 BTC to repay its convertible debt.Additionally, Sequans Communications has sold 1,025 BTC and further sold nearly 80% of its remaining holdings to repay convertible bonds. The company stated it will not continue purchasing Bitcoin in the future and plans to sell the remaining approximately 658 BTC.Nakamoto's stock price has fallen approximately 99% since its SPAC listing in May 2025. The company recently sold about 284 BTC, raising approximately $20 million for working capital. Of its remaining approximately 5,342 BTC, nearly 70% has been pledged as collateral for loans from Kraken, which market observers believe poses a potential risk event.Meanwhile, Bitcoin mining companies are also adjusting their strategies. Companies like Bitdeer Technologies and MARA Holdings are selling portions of their BTC to repurchase shares, repay debts, and redirect energy resources and computing infrastructure towards AI data center operations.Other companies selling BTC include Empery Digital. Data shows that Strategy has recently sold approximately 3,620 BTC and has authorized further asset sales to maintain its U.S. dollar reserves.However, Strategy remains the world's largest corporate holder of Bitcoin, with holdings exceeding 840,000 BTC. The company's CEO, Michael Saylor, stated that while it may sell some Bitcoin in the future to pay dividends, this does not mean the company is exiting its Bitcoin investment.Beyond asset adjustments, management and capital operations at some Bitcoin treasury companies are also changing. Jack Mallers has stepped down as CEO; and Bitcoin Standard Treasury Company (BSTR), affiliated with Adam Back, failed to complete a proposed merger due to the deteriorating market environment.Analysts believe that with rising financing costs and increased BTC price volatility, the "borrowing to buy Bitcoin" treasury model is undergoing a reshuffle. Some companies are shifting from simply hoard
Flow Traders Pilots Lombard Bitcoin Credit Lending Solution to Support Stablecoin Financing with BTC
: Bitcoin financial product platform Lombard Finance has announced the launch of the Bitcoin Onchain Credit Strategy, with global trading firm Flow Traders as the first pilot partner. Under this solution, Flow Traders can borrow stablecoins for market making without providing on-chain collateral. Its collateral security is provided by Bitcoin deposited in the Lombard Bitcoin Earn yield product, and underwriting is completed through the Cap private credit platform. (The Block)
QCP：表象与基本面背离，市场等待重新定价
QCP Capital 发布报告指出，本周市场最明显的特征是“分歧”：在原油、利率、中国经济和加密货币资金面等领域，表面叙事与底层基本面出现明显背离。加密货币方面，Strategy 调整了融资路径，通过股权融资提升美元储备，而未动用其比特币持仓。
South Korea to Push for Blockchain-Based Treasury Tokenization Pilot and Launch Three National Projects in Semiconductors, AI, etc.
the South Korean government has announced the "2026 H2 Economic Growth Strategy," declaring it will accelerate three major "super projects" in semiconductors, AI data centers, and embodied AI. It also plans to enhance industrial competitiveness through blockchain and digital asset ecosystem development. According to the plan, South Korea aims to double its memory chip production capacity over the next five years and launch an AI chatbot for all citizens and a unified AI education platform in the second half of this year.Notably, the South Korean government proposed advancing large-scale demonstration projects for the blockchain and digital asset ecosystem in the second half of this year. It also intends to launch a blockchain-based pilot for tokenizing government bonds, exploring linkages with the Bank of Korea's institutional CBDC to drive financial infrastructure upgrades. Additionally, South Korea plans to establish strategic investment accounts and a national growth fund to expand long-term capital support for strategic industries such as artificial intelligence, quantum technology, security, and blockchain. (Etoday)
Strategy: Supports the CLARITY Act, stating it will promote U.S. institutional adoption of digital assets
Strategy expressed support for the CLARITY Act, believing that establishing a clear and long-term stable regulatory framework for the digital asset market will drive industry development and promote wider adoption of digital assets by U.S. institutions.
Circle EU Policy Director: MiCA Stablecoin Regulation Has Major Gaps, Need to Introduce Foreign Token Recognition Mechanism
Circle's Senior Director of EU Strategy and Policy Patrick Hansen (@paddi_hansen) stated in a post that since the implementation of the EU's Markets in Crypto-Assets Regulation (MiCA), approximately 35 Electronic Money Tokens (EMT) from 21 institutions have obtained compliance certification, with banks and electronic money institutions entering the market and strong momentum in local issuance. However, among the top 50 global stablecoins, currently only USDC, USDG, and EURC comply with MiCA requirements; the rest remain outside the regulatory framework, leaving EU users facing a dual dilemma of lacking protection or having access forcibly cut off. Hansen believes that for MiCA to truly become a global regulatory blueprint, it must achieve two goals simultaneously: first, to promote local EMTs to go global through a competitive regime; second, to establish a recognition mechanism for overseas compliant stablecoins, attracting global issuers into the MiCA regulatory framework, rather than making local issuance the only access path.
Coinbase Plans to Advance "All-in-One Exchange" Strategy in Canada, May Introduce Tokenized Stocks and Prediction Markets
According to Bitcoin Magazine, the head of Coinbase Canada stated that the company is pushing to expand its business footprint in Canada, with the goal of building an "all-in-one exchange" covering crypto assets, tokenized stocks, and prediction markets. The plan aims to leverage blockchain technology to provide a more efficient, 24/7 trading experience. Currently, Coinbase is coordinating with Canadian regulators regarding the launch of related products.
Polymarket shows "US government will ban open-source AI models in 2026" probability currently at 16%
The PPP Prediction Market Tool monitors that on Polymarket, for the event "Will the US government ban open-source AI models in 2026?", the "Yes" probability is currently at 16%.According to the resolution rules, if the US federal government, before December 31, 2026, through legislation, executive orders, export controls, or other formal policy actions, restricts the US public's access or use of a specific open-source AI model, the market outcome will be resolved as "Yes." Otherwise, the market outcome will be resolved as "No." Eligible open-source AI models refer to general-purpose large language models or multimodal foundation models whose model weights and source code are publicly downloadable and can be run on hardware under user control, such as Meta Llama, Mistral, DeepSeek, Qwen, etc.Recently, the open-source Kimi K3 model launched by Moonshot AI has drawn market attention to whether it will impact closed-source AI. OpenAI's Director of Strategy, Dean W. Ball, stated on X platform that the US government might adopt soft legal measures to prevent open-source models from entering the US. David Sacks, Chairman of the President's Council of Advisors on Science and Technology, believes that using regulatory uncertainty to suppress open-source competition is "unacceptable."Join the PPP Signal Push Community to stay ahead and seize the opportunity.
Tether and Other Non-US Stablecoin Issuers Have Two Years Left to Determine US Compliance Strategy
the US stablecoin regulatory bill, the GENIUS Act, has now been in effect for one year. Non-US issuers such as Tether have two years remaining to establish compliance strategies to meet US stablecoin issuance rules. The bill originally required federal financial regulatory agencies to finalize stablecoin rulemaking before the one-year mark, but the relevant rules have not yet been issued, leaving the compliance pathway uncertain. Under the basic framework of US standards, Tether’s USDT would need to undergo multiple significant adjustments before the rules take effect in order to meet legal requirements.
Michael Saylor Opposes BIP 110, Claims Soft Fork Threatens Bitcoin's Neutrality Rules
Odaily Strategy founder Michael Saylor published a lengthy post on July 18, listing 100 reasons to oppose BIP 110. He stated that the proposal would impose restrictions on a currently valid but controversial class of transactions through Bitcoin's consensus rules, constituting governance intervention in certain use cases. BIP 110, full name "Reduced Data Temporary Softfork," was marked as Complete on Github on June 25, 2026. The proposal is planned to run for approximately one year and introduces seven new consensus restrictions, including an 83-byte limit on OP_RETURN outputs, a 256-byte cap on certain payloads and witness items, as well as restrictions on some Taproot-related structures. Michael Saylor pointed out that BIP 110 adopts a 55% miner signaling threshold, lower than the 95% threshold in the standard BIP 9 process, and removes the regular timeout and FAILED status. He believes that using a lower threshold for controversial rule changes increases the probability of a chain split and could potentially affect miner fee revenue and long-term network security. He argued that existing Bitcoin relay and mining strategy tools already allow node operators and miners to restrict unwanted transaction types without the need to change the network's consensus rules. Michael Saylor also stated that Bitcoin's base layer should remain conservative and opposed the use of consensus soft forks to regulate controversial use cases.
Analysts Support Strategy Increasing Cash Holdings, Saylor Says No Longer "100% Allocating to Bitcoin" in the Future
Odaily News, Strategy Executive Chairman Michael Saylor said at the company's Q2 earnings call that while the company has previously allocated nearly "100% of its funds to Bitcoin," it may adopt a combined strategy of holding both cash and BTC going forward. He stated, "Perhaps the best way to buy the most Bitcoin is not to buy the most Bitcoin immediately."TD Cowen and Benchmark both maintained their Buy ratings on Strategy following the Q2 earnings call. The two firms believe that the core goal of the company's current management has shifted toward bringing its STRC preferred stock price back to near par value, thereby restoring its ability to function as a financing tool.TD Cowen analyst Lance Vitanza said the most important takeaway from the call was management's strong focus on STRC. Company executives repeatedly emphasized that restoring STRC to par value is the core objective, and noted that despite recent price deviations in the security, institutional adoption continues to rise.Benchmark analyst Mark Palmer holds a similar view. He pointed out that Saylor and his team spent most of the 90-minute call focused on the same goal: restoring STRC to the $99–$100 range, making it once again the primary engine for the company to raise capital and purchase Bitcoin.
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.
Book loss of 42.2%, Bitmine holds 5.7874 million ETH
MicroStrategy did not sell BTC last week, but increased its dollar reserves by selling approximately $525 million in stock. It currently holds about $3.75 billion in cash, which can cover approximately 25 months of interest payments, and is not expected to continue buying Bitcoin in the short term. Ethereum treasury company Bitmine purchased 9,946 ETH last week at a price of approximately $1,897, for a total of about $18.87 million, maintaining its weekly buying pace since the treasury was launched. Currently, Strategy holds a total of 843,775 BTC, with an unrealized book loss of approximately 13.9%; Bitmine holds a total of 5.7874 million ETH, with an unrealized book loss of approximately 42.2%.
Bitcoin Treasury Companies Shift Strategy: Selling BTC, Repaying Debt, and Betting on AI as Stock Plunges Force Strategic Pivot
Odaily News As Bitcoin prices have experienced a significant correction, publicly listed companies that had accumulated large BTC holdings are facing multiple challenges, including falling stock prices, debt pressures, and a deteriorating financing environment. Some of these companies are now starting to sell Bitcoin, repay debts, and even pivot towards artificial intelligence (AI) data center operations.Strategy pioneered the "Digital Asset Treasury (DAT)" model, continuously purchasing Bitcoin through financing and borrowing, inspiring a wave of other listed companies to follow suit. However, as the BTC price has fallen approximately 50% from its peak of around $126,000 in October 2025, the stock prices of related companies have also shrunk significantly, forcing them to reassess their BTC accumulation strategies.This week, shareholders of London-listed company Satsuma Technology approved the liquidation of all 668 BTC, returning capital to shareholders, while proceeding with delisting. Another London-listed company, The Smarter Web Company, sold 178 BTC to repay its convertible debt.Additionally, Sequans Communications has sold 1,025 BTC and further sold nearly 80% of its remaining holdings to repay convertible bonds. The company stated it will not continue purchasing Bitcoin in the future and plans to sell the remaining approximately 658 BTC.Nakamoto's stock price has fallen approximately 99% since its SPAC listing in May 2025. The company recently sold about 284 BTC, raising approximately $20 million for working capital. Of its remaining approximately 5,342 BTC, nearly 70% has been pledged as collateral for loans from Kraken, which market observers believe poses a potential risk event.Meanwhile, Bitcoin mining companies are also adjusting their strategies. Companies like Bitdeer Technologies and MARA Holdings are selling portions of their BTC to repurchase shares, repay debts, and redirect energy resources and computing infrastructure towards AI data center operations.Other companies selling BTC include Empery Digital. Data shows that Strategy has recently sold approximately 3,620 BTC and has authorized further asset sales to maintain its U.S. dollar reserves.However, Strategy remains the world's largest corporate holder of Bitcoin, with holdings exceeding 840,000 BTC. The company's CEO, Michael Saylor, stated that while it may sell some Bitcoin in the future to pay dividends, this does not mean the company is exiting its Bitcoin investment.Beyond asset adjustments, management and capital operations at some Bitcoin treasury companies are also changing. Jack Mallers has stepped down as CEO; and Bitcoin Standard Treasury Company (BSTR), affiliated with Adam Back, failed to complete a proposed merger due to the deteriorating market environment.Analysts believe that with rising financing costs and increased BTC price volatility, the "borrowing to buy Bitcoin" treasury model is undergoing a reshuffle. Some companies are shifting from simply hoard
KULRTech Abandons Bitcoin Treasury Strategy, Accumulated Losses Approximately $22.62 Million
According to monitoring by on-chain analyst Yu Jin (@EmberCN), BTC treasury company @KULRTech transferred another 145.8 BTC (approximately $9.45 million) to Coinbase Prime 5 hours ago. After multiple position reductions over nearly 3 months, its originally held 1,021 BTC (approximately $101 million) now remains at only 100 BTC (approximately $6.47 million). The company's average BTC reserve price was $98,923, while the average selling price was only $74,368, resulting in an accumulated loss of approximately $22.62 million. Currently, its official website's Bitcoin treasury page has been taken offline, and its official social media has not mentioned Bitcoin-related content for a long time; it is widely believed that the company has abandoned its Bitcoin treasury strategy.
Multiple listed companies are abandoning their bitcoin reserve strategies, with Bitdeer, Prenetics, and others having fully liquidated their BTC holdings
Odaily Odaily报道，VanEck数字资产研究主管Matthew Sigel在X平台发文表示，自2026年以来，多家采用数字资产财库（DAT）策略的上市公司已放弃或调整比特币储备策略。其中，Satsuma Technology、Bitdeer、Prenetics、Genius Group、Vaultz Capital、MAIA Biotechnology等公司已出售全部比特币或数字资产持仓；MARA Holdings、Strategy、Nakamoto、Smarter Web Company、Cango等则通过出售部分比特币用于偿债、回购股份或补充营运资金。此外，Exodus、DigitalX等企业也由单纯囤币转向主动管理数字资产持仓。
Trust Wallet Teams Up with BNB Chain and CoinMarketCap to Launch AI Trading Agent Hackathon, with a Total Prize Pool of $36,000
: According to an official announcement, on June 3, Trust Wallet announced a partnership with BNB Chain and CoinMarketCap to officially launch the "BNB Hack: AI Trading Agents" hackathon, featuring a total prize pool of $36,000. The Trust Wallet Agent Kit serves as the core on-chain execution technology stack for this event. This hackathon also marks the first time the Trust Wallet Agent Kit has been fully integrated as a core infrastructure component into a top-tier AI Agent hackathon system.The hackathon features two main tracks: "Autonomous Trading Agents" (prize pool $24,000, 5 winners) and "Strategy Skills" (prize pool $6,000, 3 winners), in addition to three partner special awards of $2,000 each. In the "Autonomous Trading Agents" track, participants must leverage the Trust Wallet Agent Kit to achieve local self-custodial signing, autonomous mode operation, and on-chain trade execution, deployed within native BNB Chain scenarios such as PancakeSwap and BSC Perpetual Contracts. The "Strategy Skills" track does not require an execution layer; participants build backtestable strategy proposals based on 12 categories of data tools from CoinMarketCap MCP, including market data, technical indicators, on-chain data, sentiment, and news.Track one uses real PnL as the core evaluation criterion, setting a maximum drawdown limit as the risk control threshold. Track two is comprehensively scored by a judging panel across four dimensions: technical execution, originality, real-world value, and presentation. The build window runs from June 3 to June 21, the trading window from June 22 to June 28, and winners will be announced during the week of July 6. In addition to cash prizes, winning teams will receive CoinMarketCap Pro API subscription credits, mentorship from CMC Labs, and the BNB Chain Kickstart ecosystem support package.
Signal says it may exit the Canadian market if Bill C-22 takes effect.
According to Cointelegraph, privacy-focused messaging app Signal stated it may exit the Canadian market if required to comply with Canada’s proposed lawful access bill, Bill C-22. Udbhav Tiwari, Signal’s Vice President of Strategy and Global Affairs, said the bill could compel service providers to build technical surveillance capabilities and retain certain user metadata for up to one year—potentially undermining end-to-end encryption and increasing the risk of cyberattacks. The report notes that Bill C-22 has not yet entered into force and still requires parliamentary review and royal assent. In addition to Signal, VPN provider Windscribe has also indicated it may follow suit and withdraw from Canada if the bill is passed.
QCP: BTC Monthly Gain Exceeds 14%; Geopolitical and Security Incidents Disrupt Market Sentiment
QCP Group’s analysis states that U.S.-Iran negotiations have once again collapsed, while the Middle East ceasefire continues, leaving the overall geopolitical landscape relatively static. A shooting incident occurred at the White House Correspondents’ Dinner, with Trump suspected as the target. Following Asia’s market open, BTC briefly surged past $79,000 and ETH above $2,400—but gains quickly reversed amid concerns triggered by news of Iran’s Foreign Minister traveling to Russia for talks with Putin. Since early April, BTC has rallied over 14% cumulatively, marking four consecutive weeks of positive closes. Spot ETFs recorded nine straight days of net inflows totaling approximately $2.11 billion. Strategy funds added over $3.8 billion worth of BTC in the past month. The current key resistance level for BTC lies near the CME gap around $82,000. BTC perpetual contract funding rates remain persistently negative; a breakout above this level could trigger short-covering. Implied volatility continues declining, and risk-reversal skew has narrowed somewhat, signaling gradually rising market interest in upside exposure. Key events this week: - April 29: Earnings reports from Microsoft, Amazon, Meta, and Google, plus the FOMC interest-rate decision. - April 30: Apple earnings report, U.S. Q1 GDP data, and March PCE inflation data.
U.S. Navy Admiral States That Bitcoin’s PoW Technology Can Increase the Cost of Cyberattacks and Support National Security Strategy
According to Cointelegraph, Admiral Samuel Paparo of the U.S. Navy stated at a hearing before the Senate Armed Services Committee that Bitcoin is a “valuable computer science tool,” and that its proof-of-work technology holds significant applications in cybersecurity—increasing attackers’ costs and enabling the protection of data, information, and command signals, thereby supporting U.S. national security interests. Paparo noted: “Beyond the economic dimension, it has extremely important computer science applications in cybersecurity.” Earlier, in 2023, Jason Lowery of the U.S. Space Force expressed a similar view.
Spark: Tightening Collateral Scope Leads to Business Loss but Ensures Liquidity Safety
According to monetsupply.eth, Spark’s Strategy Lead, in a post on X, Spark has long maintained a relatively high borrowing interest rate cap for its SparkLend ETH market. Although this policy caused many users to migrate to Aave—resulting in substantial loss of business and revenue—the current market liquidity crisis has validated the prudence of this strategy. Presently, Aave is experiencing severe liquidity shortages across multiple chains—including Ethereum Mainnet, Arbitrum, Polygon Plasma, Mantle, and Base—with ETH borrowing utilization reaching 100%. This has prevented depositors from withdrawing funds and hindered normal liquidation of ETH collateral. He warns that if the current liquidity crunch persists, a 15–20% drop in ETH’s price could expose Aave to widespread bad debt—compounded by the potential impact of the rsETH vulnerability incident.
Circle Responds to Drift Theft Incident, Calls for Enhanced Accountability and Rule of Law in Open Financial Systems
Circle Chief Strategy Officer Dante Disparte responded to the major security breach affecting Drift Protocol on April 1, which resulted in over $270 million in stolen funds. He stated that open financial systems must be built upon foundations of legal accountability, shared security, and rules that evolve in real time with emerging threats. Circle freezes USDC funds only when legally required—a measure reflecting its compliance obligations and safeguarding users’ assets and privacy rights. He emphasized that openness and accountability must be balanced, and all participants across the ecosystem—including protocols, wallets, infrastructure providers, exchanges, and stablecoin issuers—must jointly shoulder responsibility for security and accountability. Circle is collaborating with U.S. and international policymakers to advance stablecoin legislation, including the GENIUS Act, to establish a more modern legal framework enabling lawful, rapid intervention against illicit activities while protecting property rights and privacy—ensuring the continued resilience and robust growth of open financial systems.
Strategy: Supports the CLARITY Act, stating it will promote U.S. institutional adoption of digital assets
Strategy expressed support for the CLARITY Act, believing that establishing a clear and long-term stable regulatory framework for the digital asset market will drive industry development and promote wider adoption of digital assets by U.S. institutions.
Analysts Support Strategy Increasing Cash Holdings, Saylor Says No Longer "100% Allocating to Bitcoin" in the Future
Odaily News, Strategy Executive Chairman Michael Saylor said at the company's Q2 earnings call that while the company has previously allocated nearly "100% of its funds to Bitcoin," it may adopt a combined strategy of holding both cash and BTC going forward. He stated, "Perhaps the best way to buy the most Bitcoin is not to buy the most Bitcoin immediately."TD Cowen and Benchmark both maintained their Buy ratings on Strategy following the Q2 earnings call. The two firms believe that the core goal of the company's current management has shifted toward bringing its STRC preferred stock price back to near par value, thereby restoring its ability to function as a financing tool.TD Cowen analyst Lance Vitanza said the most important takeaway from the call was management's strong focus on STRC. Company executives repeatedly emphasized that restoring STRC to par value is the core objective, and noted that despite recent price deviations in the security, institutional adoption continues to rise.Benchmark analyst Mark Palmer holds a similar view. He pointed out that Saylor and his team spent most of the 90-minute call focused on the same goal: restoring STRC to the $99–$100 range, making it once again the primary engine for the company to raise capital and purchase Bitcoin.
Apple CEO Cook: Hybrid AI Strategy Is a "Competitive Weapon," Will Drive iCloud Subscription Growth with AI
According to CNBC, Apple CEO Tim Cook stated during the latest earnings conference call that Apple's hybrid AI strategy—where some AI tasks run locally on-device and complex tasks are processed via Google Cloud—is a "competitive weapon", distinct from the data center investments of tech giants like Meta, Microsoft, and Amazon, which often exceed $100 billion. Apple's capital expenditure in the second fiscal quarter was only $2.46 billion, lower than the market expectation of $3.44 billion. Cook also revealed that Apple plans to make AI a core selling point for iCloud+ subscription upgrades, offering paid expansion options for users with higher AI usage, but the specific pricing plan has not been finalized yet.
ByteDance Launches To B Strategy Upgrade, Doubao, Lark, and Volcengine Three Major Businesses Integrated and Restructured
According to IT Home, ByteDance announced on July 30 the launch of an organizational structure adjustment focused on AI enterprise services. This restructuring merges the Feishu product team into the Doubao product team, under the unified management of Doubao head Zhao Qi; simultaneously, the Feishu GTM team will be integrated with Volcengine to establish a new ToB GTM organization "Creativity Service Platform", led by Volcengine head Tan Dai, who will oversee the marketing, sales, and customer service for ByteDance's cloud services including MaaS and SaaS. Following the restructuring, Doubao Enterprise Edition will natively integrate the Feishu ecosystem, covering all office scenarios such as documents, spreadsheets, meetings, and group chats, and has currently begun internal beta testing with selected Feishu customers.
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.
Related news
Strategy: Supports the CLARITY Act, stating it will promote U.S. institutional adoption of digital assets
Strategy expressed support for the CLARITY Act, believing that establishing a clear and long-term stable regulatory framework for the digital asset market will drive industry development and promote wider adoption of digital assets by U.S. institutions.
Analysts Support Strategy Increasing Cash Holdings, Saylor Says No Longer "100% Allocating to Bitcoin" in the Future
Odaily News, Strategy Executive Chairman Michael Saylor said at the company's Q2 earnings call that while the company has previously allocated nearly "100% of its funds to Bitcoin," it may adopt a combined strategy of holding both cash and BTC going forward. He stated, "Perhaps the best way to buy the most Bitcoin is not to buy the most Bitcoin immediately."TD Cowen and Benchmark both maintained their Buy ratings on Strategy following the Q2 earnings call. The two firms believe that the core goal of the company's current management has shifted toward bringing its STRC preferred stock price back to near par value, thereby restoring its ability to function as a financing tool.TD Cowen analyst Lance Vitanza said the most important takeaway from the call was management's strong focus on STRC. Company executives repeatedly emphasized that restoring STRC to par value is the core objective, and noted that despite recent price deviations in the security, institutional adoption continues to rise.Benchmark analyst Mark Palmer holds a similar view. He pointed out that Saylor and his team spent most of the 90-minute call focused on the same goal: restoring STRC to the $99–$100 range, making it once again the primary engine for the company to raise capital and purchase Bitcoin.
Michigan Retirement Fund Increases Strategy Stake by 141% to 14,000 Shares
Odaily News: BitcoinTreasuries.NET posted on X platform that the Michigan State Retirement Fund has disclosed an increase of 141% in its holdings of Strategy, bringing the total position to 14,000 shares, valued at $1.34 million. As one of the largest pension funds in the United States, the fund has expanded its Bitcoin exposure through the treasury company.
Apple CEO Cook: Hybrid AI Strategy Is a "Competitive Weapon," Will Drive iCloud Subscription Growth with AI
According to CNBC, Apple CEO Tim Cook stated during the latest earnings conference call that Apple's hybrid AI strategy—where some AI tasks run locally on-device and complex tasks are processed via Google Cloud—is a "competitive weapon", distinct from the data center investments of tech giants like Meta, Microsoft, and Amazon, which often exceed $100 billion. Apple's capital expenditure in the second fiscal quarter was only $2.46 billion, lower than the market expectation of $3.44 billion. Cook also revealed that Apple plans to make AI a core selling point for iCloud+ subscription upgrades, offering paid expansion options for users with higher AI usage, but the specific pricing plan has not been finalized yet.
Michael Saylor: Aiming to Push STRC Back to Par Within 70 Trading Days, Around September 8
Odaily News: At today's earnings call, Strategy founder Michael Saylor said: "When STRC first listed, it took us about 70 trading days to get back to par value. Some may have forgotten that we priced our IPO at $90 and it took 70 days to climb back to par. If we count from the day STRC broke below the $99–100 trading range, 40 trading days have passed as of today. With May 28 — the day it broke below the trading range — as the starting point, counting forward 70 trading days puts us around September 8. We're watching that date closely and tracking our progress. We're going to focus our energy on restoring STRC to health. We believe that if we could do it in 70 days after the IPO, setting a 70-day target for recovery after breaking below the range is also reasonable. We have ample means to bring STRC back to par value."
Loss of $8.2 billion, Strategy's Bitcoin holdings once reached 846,000 in Q2
Bitcoin treasury company Strategy has released its second-quarter financial results, recording a loss of $8.2 billion, compared to a profit of $10 billion in the same period last year. The loss mainly stemmed from unrealized book losses on its Bitcoin holdings. Strategy stated that its Bitcoin holdings increased by 11% in the second quarter, peaking at 846,000 BTC before the company began selling off some assets. As of the latest disclosure, the company holds 843,775 BTC. Since the beginning of this year, Strategy has sold approximately $218 million worth of Bitcoin to pay preferred stock dividends. The company had previously paused Bitcoin purchases for five consecutive weeks, prioritizing the expansion of its U.S. dollar cash reserves instead. At the end of June, Strategy launched a Digital Credit Capital Framework, planning to establish a minimum U.S. dollar reserve covering preferred stock dividends and interest expenses for 12 months. It also authorized a Bitcoin monetization plan of up to $1.25 billion to supplement reserves or pay dividends. CEO Phong Le stated that the company reduced its convertible bond scale by 18% to $6.7 billion in Q2, while increasing its U.S. dollar reserves by 12% to $2.4 billion. CFO Andrew Kang noted that the company's current U.S. dollar reserves stand at approximately $3.75 billion, enough to cover related expenses for about two years, and it has paid dividends on time for 18 consecutive months.