94%
No
- No 94%
- Yes 6%
Michael Saylor Reveals Why Wall Street Prefers Cash to Bitcoin
Published Updated 1 new report since it was first published
Michael Saylor said at ParaFi Investor Day that Bitcoin backing alone was not enough to keep Strategy’s 12% yield preferred stock at its $100 target, and that credit investors wanted a cash cushion before returning. In separate remarks, he said digital credit is the strongest credit in the world, while also hinting at more Bitcoin purchases as Strategy continued holding 848,250 BTC after recent spending on Bitcoin and STRC repurchases.
What this rests on
Claim by claim, with its source
✓
At ParaFi Investor Day, Michael Saylor said Bitcoin backing by itself could not keep Strategy’s 12% yield preferred stock at its $100 target.
✓
Saylor said credit investors wanted a cash cushion before they came back.
✓
Saylor hinted at more Bitcoin purchases while Strategy held 848,250 BTC.
✓
Strategy recently spent $21.5 million on Bitcoin and $192.4 million on STRC repurchases.
What it means
Who it affects, what changes and what is still unconfirmed
Each sentence links inside to the piece that supports it.
Strategy’s preferred-stock structure is the part of this that matters most for holders and credit investors watching the company today. Saylor said the $100 target for the 12% yield preferred stock was not sustained by Bitcoin backing alone, and he also said investors wanted a cash cushion before they returned.
For market participants tracking Strategy’s balance sheet and Bitcoin exposure, the practical change is that the company is still active on both sides of the ledger. It held 848,250 BTC while also spending $21.5 million on Bitcoin and $192.4 million on STRC repurchases, and the update also included hints of more Bitcoin purchases.
Market reaction
-0.17 %
before publication
-0.93 %
after
$81,883price at publication
12series points
How the story was built
Every piece in order, with the time its news medium declares — if it is not believable we use ours and say so — and what it added to what was already known at that point. Arriving first is not the same as adding something.
first
BeInCrypto
scoop
Oct 18 12:47
BeInCrypto
scoop
Breaks the event: $1.5B
+3 h 27 m
crypto.news
adds
Oct 18 16:14
Adds $192.4M and $21.5M; brings into the story: BTC
Where this sits in the Bitcoin series
| When | What happened | Figure |
|---|---|---|
| 1.0 years ago | BTC a 1.152e+05 $ high | today it sits -29.7 % from there |
| 4 months ago | BTC a 5.857e+04 $ low | today it sits +38.4 % from there |
From what we have stored, starting 1.0 years ago.