Strategy Founder Michael Saylor: Aiming to Become the Largest Company by Market Value, Think ₿igger
Strategy officially released a video stating its goal to become the largest company by market value globally by holding the most BTC capital, issuing the strongest credit STRC, and creating the best equity MSTR. Founder Michael Saylor said, "Think ₿igger."
The company plans to support its digital credit business through the issuance of STRC, which will enhance the quality of MSTR equity, thereby increasing BTC accumulation capacity and forming a triple flywheel to continuously increase the number of bitcoins per share. Core objectives include achieving 30% BTC ARR, selling digital credit equivalent to 10-20% of bitcoin reserves annually, and doubling BPS within seven years.
Event-driven capital is flowing from traditional credit and equity markets into bitcoin-related structured products, with digital credit buyers providing stable funding to support BTC accumulation. MSTR shareholders benefit from the increase in bitcoins per share, while traditional asset managers relying on fiat currency returns face pressure.
Source: Public Information
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Michael Saylor has been promoting MicroStrategy (now Strategy) to convert cash into bitcoin reserves since 2020, accumulating over 800,000 BTC. During this period, he has continuously financed bitcoin purchases through convertible bonds, preferred stock, and ATM equity issuance, previously setting higher BTC yield targets and publicly criticizing cash holding strategies.
In terms of capital structure, STRC is designed as a variable-rate perpetual preferred stock that trades close to par value and pays monthly dividends, with proceeds directly used to purchase BTC, creating a cycle of "credit financing → equity premium → more BTC". The motivation is to convert bitcoin volatility into stable returns for credit investors while allowing common stockholders to gain leveraged bitcoin exposure.
Similar cases can be seen in MicroStrategy's early transition from a software company to a bitcoin treasury, followed by several companies issuing bitcoin-related preferred stock. Currently, Strategy is in the expansion phase from a single reserve holding to a complete digital capital-credit-equity stack control.
This essentially represents a transfer of pricing power: bitcoin is structured from a mere reserve asset into a capital product that can be sold in layers, with the mechanism being the demand difference between publicly traded preferred and common stock, allowing the company to continuously absorb external capital at a lower cost and amplify bitcoin ownership per share.
ABAB News · Law of Cognition
Capital layering, volatility becomes income
Equity premium = credit fuel × bitcoin flywheel
To think bigger, one must continuously print more coins