Michael Saylor Unveils BTC Rating Metric on Strategy Website
According to MicroStrategy’s site update, the BTC Rating reflects net Bitcoin reserves relative to market capitalization, with the firm scoring 0.9 under this new metric.
BTC
Fact Check
The assessment is primarily based on the direct announcement from Michael Saylor's official X account, which is a primary source with very high authority and relevance. This source explicitly confirms that a 'BTC Rating' was added to the MicroStrategy website's charts. This is the most compelling piece of evidence provided. The other sources do not contradict this claim. The link to MicroStrategy's 'Bitcoin Purchases' page is a primary source, but its summary notes that it simply does not contain the metric on that specific page; this does not mean the metric doesn't exist elsewhere on the site. The remaining sources are either irrelevant due to their focus on historical events, external analyst ratings of MicroStrategy's stock (MSTR), or are invalid links. Since there is direct, high-authority evidence supporting the statement and no credible evidence to refute it, the statement is assessed as highly likely to be true.
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Summary
On January 18, MicroStrategy founder Michael Saylor announced a new BTC Rating metric on the company’s website. The formula is (Bitcoin reserves − debt − preferred stock + USD reserves) ÷ market capitalization, offering a measure of net Bitcoin reserves compared to a company’s market value. MicroStrategy’s BTC Rating score is 0.9, representing the inverse of the price-to-book ratio.
Terms & Concepts
- BTC Rating: A metric showing the ratio of net Bitcoin reserves to a company’s market capitalization.
- Market Capitalization: The total market value of a company’s outstanding shares.
- Bitcoin Reserves: The amount of Bitcoin holdings maintained by a company or institution.