While each bitcoin becomes rarer, Strategy aims to concentrate an unprecedented part. Michael Saylor, its co -founder, talks about the possibility of holding up to 7 % of the world Bitcoin supply, or nearly 1.5 million BTCs. With already more than 3 % in reserve, the company is no longer content to invest: it builds a financial model focused on the strategic accumulation of the assets. A trajectory that redefines corporate cash codes in the age of digital currencies.
In short
- Michael Saylor, executive president of Strategy, says that the company could hold up to 7 % of the total Bitcoin offer.
- Strategy already has 628,791 BTC, or more than 3 % of bitcoins currently in circulation, for an estimated value at $ 72 billion.
- Michael Saylor says that even a 90 % drop in Bitcoin prices would not force the company to sell its reserves.
- If the target of 7 % is reached, Strategy will hold more BTC than all the governments of the world together.
A encrypted ambition: Strategy is preparing its offensive at 7 %
After the acquisition of 21,000 bitcoins after an iPo of 2.5 billion, Michael Saylor, the executive president of Strategy, A declared in an interview with CNBC that his company could ultimately have between “3 to 7 %” of the total bitcoin offer, while specifying:
I don't think we will get all bitcoins […] We don't want to have everything, we want everyone to have their share.
To date, the company has 628,791 BTC, just over 3 % of the 19.9 million bitcoins currently in circulation. A reserve estimated at $ 72 billion on the basis of a BTC course at 114,692 dollars. If Saylor's strategy reached its objective, this would represent 1.47 million BTCs, valued at around 169 billion dollars, an unprecedented concentration for a listed company.
This massive accumulation project is integrated into an approach initiated in August 2020, when Strategy, then weakened by the post-COVVIVS crisis, operated a radical turn by adopting bitcoin as reserve assets. This orientation is based on a structured acquisition mechanism, detailed by the following figures:
- 628,791 BTC currently detained, making strategy the first Bitcoin corporate holder in the world;
- A current valuation of $ 72 billion, more than the GDP of many countries;
- 2,488 % performance for MSTR action since the first BTC acquisition in 2020;
- A strategy supported by the regular program of debts, allowing Strategy to continue to buy without having to sell its assets;
- A 7 % theoretical objective of the total supply, equivalent to 1.47 million BTC, for a potential capitalization of $ 169 billion.
The approach, initially perceived as reckless, has radically changed the perception of strategy on the financial markets. Its action, although in decline of more than 6 % to fall under the $ 380, remains one of the favorite stock markets of investors wishing to indirectly expose themselves to Bitcoin.
An extraordinary company and a visible limits model
During the presentation of the second quarter results, Michael Saylor said that even if the Bitcoin price fell 80 to 90 %, the company would be able to cross this storm without giving in a single room.
A daring statement, which reflects absolute confidence in the resilience of its strategy. This extreme posture, assumed by its architect, is largely based on long -term anticipation: “We don't want to have everything, we want everyone to have their share”Nuancé Saylor in the same interview, while maintaining the ambitious objective of the 7 %. This communication leaves little room for doubt as to the will of Strategy to continue its accumulation, whatever the upheavals of the market.
Financial mechanics behind this strategy is based on the lever effect. The company regularly issues debt, sometimes convertible, to finance its BTC purchases. It also plans to lift another $ 4.2 billion in this perspective.
If the price of bitcoin continues to progress, this approach can continue to produce record profits like the 10 billion announced in the second quarter. However, conversely, a brutal fall in the market could cause cascade effects on traditional stock markets, Strategy being now closely correlated at the price of the crypto.
The MSTR action has thus become a kind of Bitcoin proxy on the Nasdaq, with all the risks of volatility and speculation that this implies. In addition, some analysts, as in Benchmark, have enhanced their price target to $ 705, while others are worried about the sustainability of such a long -term model.
This frantic accumulation challenges the impact of such a concentration on an asset supposed to be decentralized. If Strategy actually reaches 7 %, the company will hold more BTC than all world governments combined. This concentration could change market dynamics, especially in the event of an enhanced liquidity or regulation crisis, as evidenced by the voting of the Genius Act in the United States. While some see it as proof of a visionary commitment, others highlight the systemic risk represented by a private enterprise monopolizing such an important part of a global asset.
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