MicroStrategy Buys $250M in Bitcoin, Calling the Crypto ‘Superior to Cash’

[nikola22]

To be honest, I'm getting tired of having to explain obvious things to you. You don't even understand what you posted. Just because BlackRock and other asset managers use STRC as a component of some of the ETFs they offer doesn’t mean that institutions are buying STRC on a massive scale.

you don't need to explain obvious things to me. it's clear that asset managers don't buy STRC for themselves but as part of their ETF basket. but for some reason, BlackRock and others included STRC in their baskets which means there's a certain amount of trust in this instrument.

let's look at the iShares Preferred and Income Securities ETF as an example.

iShares Preferred and Income Securities ETF (US:PFF) has 1014 institutional owners and shareholders that have filed 13D/G or 13F forms with the Securities Exchange Commission (SEC). These institutions hold a total of 171 807 473 shares. Largest shareholders include Bank Of America Corp, Morgan Stanley, Wells Fargo & Company, LPL Financial LLC, UBS Group AG, Royal Bank Of Canada, Envestnet Asset Management Inc, Mariner, LLC, First Interstate Bank, and BlackRock Inc. you can check here: https://fintel.io/so/us/pff

as we see those institutions buy PFF shares and they're not afraid of STRC being in the basket. of course, Blackrock and other asset managers can remove STRC from their baskets at any time if they see significant risks but for now these securities are there.

I didn't say that institutions are buying STRC on a massive scale but we can see some steps. Saylor said that $756 million of STRC held across BlackRock’s PFF, Virtus InfraCap’s PFFA and VanEck’s PFXF. considering that STRC are issued for over $10 billion (if I'm not mistaken), this may be a small ratio.

BlackRock doesn't care whether the price of Bitcoin goes up or down because it charges fees both when people buy and when they sell, and the same thing happens with that STRC packaging within ETFs.

these are obvious things for anyone who has read at least a little about how asset managers work.

I mean this:

Crypto Retail Investors Dominate 80% of Strategy ‘Stretch’ Share Purchases

it is quite possible and I can understand retail interest in good dollar yield. in fact, retail investors are willing to take more risks than institutional investors that's why we see the imbalance in STRC exposure. recently Phong Le provided some updated STRC facts from March to July: retail ownership declined from 78% to 71%

https://x.com/phongle/status/2080637435197718672

[JayJuanGee]

BlackRock doesn't care whether the price of Bitcoin goes up or down because it charges fees both when people buy and when they sell, and the same thing happens with that STRC packaging within ETFs.

these are obvious things for anyone who has read at least a little about how asset managers work.

If all of these matters pointed out by FMC are so obvious, then why is FMC spending time writing posts to supplement your superficial Saylor dick sucking posts?

Sometimes there are needs to point out "the obvious" and perhaps to at least show that you know the difference between paper bitcoin and real bitcoin, and stop coming off like you are a Saylor/MSTR lapdog.

Don't you feel at least some irritation by so many of the various paper bitcoin products that you might be able to reflect in your posts?

[Free Market Capitalist]

I was going to reply, but then I ended up here:

these are obvious things for anyone who has read at least a little about how asset managers work.

And I burst out laughing.

So, now we have nikola22, the great expert on asset managing and FMC who it seems doesn't know even a little on the subject. Lol.

If all of these matters pointed out by FMC are so obvious, then why is FMC spending time writing posts to supplement your superficial Saylor dick sucking posts?

That had me laughing my head off again.

[Wind_FURY]

Why are people who hate Chad Saylor louder today than during the past? Is it because he's having a very difficult time in his Bitcoin accumulation journey?

 

Let's wait until October/November, THEN we see those same people start going quiet as Bitcoin surges, and Chad Saylor starts buying Bitcoin ADDING to the SURGE.

[Ambatman]

Why are people who hate Chad Saylor louder today than during the past? Is it because he's having a very difficult time in his Bitcoin accumulation journey?

Not really
We expected winter to have such an effect and never expected Bitcoin to only face up
But his strategy as of late wasn't what many expected.
Almost using up cash reserve to buy a debt that isn't a priority yet.
Continuous ATM even when they stated they would only when they are trading at premium
And currently they are not and trying to use EV since it makes it less bad than it is.

I don't have issues with him selling some to push cash reserve and placing accumulation on hold.

[Free Market Capitalist]

Why are people who hate Chad Saylor louder today than during the past? Is it because he's having a very difficult time in his Bitcoin accumulation journey?

 

Nice trolling.

Haven't you heard yet that Michael Bullshit—after telling people to mortgage their homes to buy Bitcoin, and to sell a kidney if necessary but never sell their Bitcoin—has not only sold Bitcoin but become a dollar maxi? Not to mention that he's started promoting shitcoins so people will buy his STRC junk.

Michael Saylor Promoting Shitcoins

This is a serious thread. If you want to spout nonsense on this topic, there are other threads open on the forum with plenty of comments at your level.

[Wind_FURY]

Why are people who hate Chad Saylor louder today than during the past? Is it because he's having a very difficult time in his Bitcoin accumulation journey?

 

Nice trolling.

Haven't you heard yet that Michael Bullshit—after telling people to mortgage their homes to buy Bitcoin, and to sell a kidney if necessary but never sell their Bitcoin—has not only sold Bitcoin but become a dollar maxi? Not to mention that he's started promoting shitcoins so people will buy his STRC junk.

Michael Saylor Promoting Shitcoins

This is a serious thread. If you want to spout nonsense on this topic, there are other threads open on the forum with plenty of comments at your level.

It was stupid of him to say such things, but I'm not trolling. He actually needed to reduce Bitcoin from their vaults or something WORSE could happen.

¯\_(ツ)_/¯

Why are people who hate Chad Saylor louder today than during the past? Is it because he's having a very difficult time in his Bitcoin accumulation journey?

Not really
We expected winter to have such an effect and never expected Bitcoin to only face up
But his strategy as of late wasn't what many expected.
Almost using up cash reserve to buy a debt that isn't a priority yet.
Continuous ATM even when they stated they would only when they are trading at premium
And currently they are not and trying to use EV since it makes it less bad than it is.

I don't have issues with him selling some to push cash reserve and placing accumulation on hold.

Although you're right, and although Chad Saylor is probably not getting good advice from the people around him, he has the right perspective, more or less, regarding anything he understands about Bitcoin. Time will prove if HE, and if WE, are right in his , and our, own understanding of Bitcoin.

Is the protocol actually close to being ossified? Will the cap on the supply never actually be removed?

Those such questions will be answered only with time.

[Taskford]

Why are people who hate Chad Saylor louder today than during the past? Is it because he's having a very difficult time in his Bitcoin accumulation journey?

 

Nice trolling.

Haven't you heard yet that Michael Bullshit—after telling people to mortgage their homes to buy Bitcoin, and to sell a kidney if necessary but never sell their Bitcoin—has not only sold Bitcoin but become a dollar maxi? Not to mention that he's started promoting shitcoins so people will buy his STRC junk.

Michael Saylor Promoting Shitcoins

This is a serious thread. If you want to spout nonsense on this topic, there are other threads open on the forum with plenty of comments at your level.

I really understand where you came from, since before Saylor try to establish their brand as Bitcoin maximalist. There are times that he do that shills, the same as what you have said here and always tell his followers that never sell their Bitcoins.

Look at this tweet he made before.




Given how hard the effort he do to push and show his loyalty on Bitcoin, then sudden pivot happen, then embracing dollars and promoting their $STRC. We can definitely say that they are worth to be scrutinized.

With current shift done by Strategy we can really figure out that those action they have done is not actually conviction, but rather a part of their marketing moves. That's why people or those follows them really have the right to question their integrity towards those sudden changes they made.

[Ambatman]

Once Bitten. Twice shy.
Even if I knew they would definitely have to sell it was shocking they did this early.
I guess we couldn't see him for who he was when he switched to supporting Bitcoin
He's good at switching sides as long as it benefits him but I guess that's business.

Code:

then embracing dollars and promoting their $STRC. We can definitely say that they are worth to be scrutinized

I won't necessarily say he was embracing dollars but a company like that
Needs at least some liquid funds.
Even we retail still set outside cash in case of emergency whether to buy lower or otherwise.
And on STRC? Given saylor
I expect him to try another that would peek people's interest like a short term altcoin.

[MRY]

I really understand where you came from, since before Saylor try to establish their brand as Bitcoin maximalist. There are times that he do that shills, the same as what you have said here and always tell his followers that never sell their Bitcoins.

Look at this tweet he made before.




Given how hard the effort he do to push and show his loyalty on Bitcoin, then sudden pivot happen, then embracing dollars and promoting their $STRC. We can definitely say that they are worth to be scrutinized.

With current shift done by Strategy we can really figure out that those action they have done is not actually conviction, but rather a part of their marketing moves. That's why people or those follows them really have the right to question their integrity towards those sudden changes they made.

Maybe his sentence was missing something "I need to sell it first before you guys"

The extreme change of a crypto asset crusader to an advertiser of traditional financial products has led to an extreme loss of trust. The fidelity of political leaders is questioned harshly when economic considerations of the business take the stand above the concepts that these political leaders have long espoused in the minds of their ardent supporters. The rational reaction to the manipulation concealed under the concept of loyalty is the public doubt.

[As-Soon-As]

Strategy Initiates STRC Repurchases and Announces Ongoing Buyback Policy

MSTR Company is repurchasing STRC shares. Where STRC shares were sold at $100 each, it has now purchased 288,930 shares at $86.52 for $25 million.
However, this purchase follows a buyback policy, and future STRC repurchase timing will depend on market movements and unique considerations.

[Wind_FURY]

Why are people who hate Chad Saylor louder today than during the past? Is it because he's having a very difficult time in his Bitcoin accumulation journey?

 

Nice trolling.

Haven't you heard yet that Michael Bullshit—after telling people to mortgage their homes to buy Bitcoin, and to sell a kidney if necessary but never sell their Bitcoin—has not only sold Bitcoin but become a dollar maxi? Not to mention that he's started promoting shitcoins so people will buy his STRC junk.

Michael Saylor Promoting Shitcoins

This is a serious thread. If you want to spout nonsense on this topic, there are other threads open on the forum with plenty of comments at your level.

I really understand where you came from, since before Saylor try to establish their brand as Bitcoin maximalist. There are times that he do that shills, the same as what you have said here and always tell his followers that never sell their Bitcoins.

Look at this tweet he made before.




Given how hard the effort he do to push and show his loyalty on Bitcoin, then sudden pivot happen, then embracing dollars and promoting their $STRC. We can definitely say that they are worth to be scrutinized.

?



Embracing Dollars? Promoting STRC? It's laughable that you don't understand the mechanics behind it. Strategy NEEDS Dollars to pay those dividends for STRC holders. STRC needs to be bought more and more in the market for Strategy to have more and more CASH to BUY Bitcoin.

With current shift done by Strategy we can really figure out that those action they have done is not actually conviction, but rather a part of their marketing moves. That's why people or those follows them really have the right to question their integrity towards those sudden changes they made.

Another laughable post from a person who doesn't do his/her own due diligence.

OR maybe you're merely shit-posting?

     ¯\_(ツ)_/¯

[abaeze]

Strategy increased its USD Reserve by $250M and repurchased $81M of $STRC. This increased USD Duration by 57 days to 2.3 years and tightened STRC’s BTC Credit by 5 bps. As of 8/2/26, we hold ₿842,138 in our BTC Reserve and $4.0B in our USD Reserve. $MSTR

Source
Should we see this as Strategy preparing for a big buy in the future or a signal of a big dip ahead? If Bitcoin does indeed drop a bit, it is advantageous to have cash (USD) on hand in advance to buy in large amounts. This will allow us to quickly seize the opportunity to increase our accumulation. On the other hand, we should learn from Strategy. They have repurchased $STRC and increased USD Duration. This indicates that they are trying to make their capital structure stronger and more efficient, which could also be helpful for future Bitcoin purchases.
They still have 842,138 BTC, which proves that they are one of the largest corporate Bitcoin holders in the world.

[Free Market Capitalist]

Embracing Dollars? Promoting STRC? It's laughable that you don't understand the mechanics behind it.

Look in the mirror.

Strategy NEEDS Dollars to pay those dividends for STRC holders.

A need created by former Bitcoin maxi now USD maxi Michael Saylor. It's like when you see someone shoot himself in the foot, and you say, “Now he NEEDS to go to the hospital,” but you ignore the fact that what he SHOULD NOT have done was shoot himself in the foot.

Another laughable post from a person who doesn't do his/her own due diligence.

OR maybe you're merely shit-posting?

     ¯\_(ツ)_/¯

You're in no position to lecture anyone on this subject.

[Primark]

Should we see this as Strategy preparing for a big buy in the future or a signal of a big dip ahead?

No. The reason is clear, they themselves said that their cash is STRC's dividend and they have kept it to manage their other financial liabilities.
Again, we will assume that they are not doing this for the price drop. Maybe they are increasing cash as a strategy to reduce their risk. They are not focusing on buying Bitcoin now but strengthening their capital structure.

[Ambatman]

Strategy site has been updated https://www.strategy.com/
They have introduced Net reserve and the weighted duration of their obligation which isn't that bad.
Mnav 1.06 showing updated but still using EV even when it has introduced net reserve.

No. The reason is clear, they themselves said that their cash is STRC's dividend and they have kept it to manage their other financial liabilities.
Again, we will assume that they are not doing this for the price drop. Maybe they are increasing cash as a strategy to reduce their risk. They are not focusing on buying Bitcoin now but strengthening their capital structure.

I thought same at first until they crossed the $4 Billion mark
Enough to cover for almost 2.5 years of dividends and debt soothing.
They recently just sold some Bitcoin to push cash reserve higher. 
It seems the priority is pushing STRC because that's where the money is.

 

[Free Market Capitalist]

It seems the priority is pushing STRC because that's where they believe the money is.

Fixed that for you in bold. You might believe it as well but I am not so sure about it.

It's clear that they're giving it priority, screwing over MSTR holders. To fill up the cash reserve and the STRC repurchases are obviously in favor of the STRC holders while they screw the MSTR holders. And even though there may be some who hold both stocks, I don’t think they make up the majority. I imagine the idea is to bring STRC back to $100, resume the ATM, buy more Bitcoin, and hopefully drive up the price of Bitcoin, which would subsequently benefit MSTR shareholders.

But after what I’ve seen, I have too many doubts about the plan.

[Ambatman]

To fill up the cash reserve and the STRC repurchases are obviously in favor of the STRC holders while they screw the MSTR holders. And even though there may be some who hold both stocks, I don’t think they make up the majority.

Yeah the issue is they are not just selling Bitcoin but also MSTR to cover on STRC
From what I could infer
STRC are majorly for conservatives, people that won't take much risk and have the money
While MSTR are usually by risk takers.

The are betting on the fact that Bitcoin would perform.  Well which indirectly pushes MSTR price.

I imagine the idea is to bring STRC back to $100, resume the ATM, buy more Bitcoin, and hopefully drive up the price of Bitcoin, which would subsequently benefit MSTR shareholders.

But after what I’ve seen, I have too many doubts about the plan.

They barely influence the market in an uptrend anymore
People even if the purchase is paused are already used to it
I doubt they can drive up the price as the did during the bull market.

I don't even know if people are really buying MSTR and would be nice if they could do a little buy back
To atleast reaffirm them they are still considered
Not just relying on Bitcoin performing well.

[Free Market Capitalist]

Tomorrow marks six years since Strategy (then MicroStrategy) made its first Bitcoin purchase—or rather, since the announcement of that first purchase. I suppose Saylor will celebrate with a motivational tweet, but it doesn’t seem like there’s much to celebrate. What is an achievement, however, is having accumulated so much Bitcoin—842,138. Otherwise, there’s more criticism of Saylor and his model than ever before, much of it from people who were backing him a few years ago, and the business model is being called more and more into question. He started by financing the purchases with convertible notes, a system he has since abandoned. Then came the sales of MSTR, which were justified by the claim that the mNAV could reach very high multiples. Today, that system has also been abandoned, although continuing to dilute MSTR shareholders nonstop is one way he obtains liquidity. And then came the latest move: preferred shares. He experimented with various options until arriving at STRC, which he considers the most suitable and is trying to promote the most—but let’s look at STRD, for example:



This was the preferred stock that was marketed as having “the most upside potential,” lol.

Now there's just one more card left, from STRC—we'll see how it turns out, but it certainly doesn't look like the sixth anniversary is anything to get too excited about.

[MadSl1m]

On getting STRC back to $100, the filing is more specific than the guesswork. Strategy puts the target between $99 and $100 and lists dividend rate adjustments as one of several tools, alongside USD Reserve management, BTC monetization and repurchases of STRC itself. Then it says outright: "We will not necessarily increase the STRC dividend rate solely because STRC trades below its $100 per share stated amount."

That cuts against the assumption running through the last page. The preferred repurchase program is its own component of the June framework, so buying STRC back below par sits on the table next to paying holders more.

For scale, preferred dividends paid in H1 2026 came to $629.2M, of which STRC was $394.3M. Whatever they do about the share price, that coupon is the binding constraint.