Strategy Increases Cash Holdings, Saylor Says Future Will Not Be 100% Bitcoin Allocated
Strategy Executive Chairman Michael Saylor stated during the company's Q2 earnings call that a combination strategy of holding both cash and Bitcoin will be adopted in the future, despite the company previously allocating nearly 100% of its funds to Bitcoin. He mentioned, "Perhaps the best way to buy the most Bitcoin is not to buy the most Bitcoin immediately." TD Cowen and Benchmark maintained their buy ratings on the stock after the call, believing that the management's core goal has shifted to bringing the price of STRC preferred shares back to par to restore financing capabilities. TD Cowen analyst Lance Vitanza pointed out that the management's high regard for STRC was key to the call, emphasizing that returning STRC to par is the core objective. Benchmark analyst Mark Palmer also noted that Saylor and his team spent most of the call focused on the same goal: restoring STRC to the $99 to $100 range to become the primary engine for the company's fundraising to purchase Bitcoin.
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