Michael Saylor has teased again with his recent X-post amid a flurry of discussion about Strategy. Placing the usual orange dot chart on Strategy’s Bitcoin [BTC] purchase, Saylor said,
Given the trend, this could indicate that Strategy will buy Bitcoin for the 113th time. Since the last update, Strategy has made 112 purchases, increasing its total Bitcoin holdings to 846,842 BTC, which is valued at $54.3 billion.
Data from BitcoinTreasuries.NET shows that there has only been one sell-off during this period since August 11, 2020.
For those unaware, Strategy had sold 32 BTC on June 1, 2026. Furthermore, this resulted in the decline of Stretch [STRC]one of the Strategy’s preferred stocks, to $90.
Crypto community flags concerns
But unlike usual, this time there is criticism as the crypto community gets excited about Saylor’s tweets.
For example, Byzantine General, an X user, asked how Strategy can continue to accumulate Bitcoin in light of the company’s current financial constraints.
Since Strategy’s mNAV ratio is currently at or near 1, issuing more MSTR shares would no longer generate the premium value that Saylor’s proprietary capital allocation framework depends on.
A somewhat similar argumentsIt was created by another This is because a sharp decline could jeopardize the company’s highly indebted position.
While this would mean abandoning Strategy’s current business model, X-user believes that selling enough Bitcoin or MSTR shares to pay off debt and preference liabilities would be a more sustainable course of action.
Many still support Strategy’s Bitcoin plan
Needless to say, not everyone had the same echoes of criticism, as Nicolas Cole, co-founder of Premium Ghostwriting Academy, said:
Moreover, Adam Livingston, a well-known Bitcoin expert, said, added,
As predicted, Strategy will sell MSTR to buy more Bitcoin and cash. As they should.
He further expressed optimism about Strategy’s capital allocation strategy, claiming that the company can raise money by issuing more MSTR shares and splitting the proceeds between cash reserves and more Bitcoin acquisitions.
Even if Bitcoin returns per share temporarily turn negative, Livingston argues that this strategy will still benefit shareholders at the balance sheet level.
He claims that dilution-oriented critics ignore the importance of cash and the function of preferred securities like STRC, which, when worked properly, can increase Bitcoin returns without increasing the number of common shares.
Despite such mixed feelings, Saylor recently celebrated Strategy’s comeback from the 2022 bear market. All this happened while Bitcoin was trading at $64,106.25 at the time of writing, still below the $65,000 mark it had last reached on June 18.
Final summary
- As Saylor posts his new tease, many in the crypto community are rejecting Strategy’s Bitcoin plan.
- However, many in the crypto community also applauded Strategy’s Bitcoin push since 2020.