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Michael Saylor says Strategy turns Bitcoin into ‘digital credit’

Michael Saylor says Strategy turns Bitcoin into ‘digital credit’

Strategy says it is building dollar reserves, seeking to return STRC to par and then resume Bitcoin purchases as it supports preferred securities and a broader Bitcoin-backed capital model.

BTC

Fact Check
The core claim is directly confirmed by Saylor's own X post (@saylor, 2026-07-14) stating 'Bitcoin is Digital Capital. Strategy transforms it into Digital Credit.' Independent reporting from U.Today and cryptonews confirms the full context: the 'digital credit' factory framing, new slides highlighting double-digit preferred-security yields (STRD 16.69%, STRC 13.79%), a $9.89B unrealized/paper trading loss, a halt/pause in Bitcoin purchases, and elevated debt/liquidity concerns. Every element of the headline and summary is supported by primary and corroborating sources.
Summary

Strategy Chairman Michael Saylor has described the company as turning Bitcoin into “digital credit” through securities including STRD, STRC, STRK and STRF, while CEO Phong Le said Strategy plans to resume accumulating Bitcoin after STRC returns to par value. Le said the company is prioritizing larger U.S. dollar reserves and enough cash to cover two to three years of dividends as part of a capital plan tied to future preferred-share issuance. Strategy holds 843,775 BTC at an average purchase price of $75,482, with the position cited at $53.8 billion, and said its reserves could cover payments for 31 years with zero market growth. The company has also raised about $466.7 million through its ATM program after pausing Bitcoin purchases and selling 3,588 BTC in late June through July 5, as investors continue to scrutinize unrealized losses, a recent forced Bitcoin sale and leverage risk.

Terms & Concepts
  • digital credit: Strategy’s term for creating debt-like or income-paying securities from the economics of its Bitcoin holdings.
  • ATM program: An at-the-market share sale program that lets a company raise capital by selling stock into the open market over time.
  • par value: The face value of a security, typically its original issue price.