Saylor said about $65 billion has been raised to buy BTC, with most of that funding not made up of debt, framing Strategy's balance sheet as resilient in a severe downturn.
Strategy would remain overcollateralized relative to its debt even if Bitcoin dropped to $5,000 per coin, Michael Saylor said in remarks cited by Bitcoin Treasuries.NET on X. Saylor said the company has raised about $65 billion to buy BTC and that most of that funding is not debt, underscoring his argument that the balance sheet could withstand a severe decline in Bitcoin's price. The comments speak to a core concern around corporate Bitcoin treasury strategies: whether leverage can force asset sales during deep market drawdowns. By emphasizing excess collateral over liabilities, Saylor framed Strategy as insulated from that risk even under an extreme downside scenario.