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BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
06/29/2026

Saylor Doubles Down on Bitcoin as Strategy Stock Slides, Faces Criticism

What happened: Michael Saylor signaled continued Bitcoin accumulation for Strategy, which now holds 847,363 BTC (valued at $50.

Saylor Doubles Down on Bitcoin as Strategy Stock Slides, Faces Criticism

What happened: Michael Saylor signaled continued Bitcoin accumulation for Strategy, which now holds 847,363 BTC (valued at $50.88 billion, average cost $75,653). Despite this, Strategy's common stock (MSTR) fell to $82.31 (-3.54% on Sunday), and its preferred STRC shares hit $74.57, reflecting mounting investor concerns. Ripple CEO Brad Garlinghouse publicly criticized Strategy's use of preferred stock to fund Bitcoin buys, calling it "financial engineering" and questioning its sustainability as STRC's 11.5% dividend obligations strain reserves.

Why it matters: Saylor's aggressive accumulation strategy is under scrutiny as Bitcoin's price weakness exposes the risks of leveraged, yield-dependent capital structures. With only 10 months of reserves to cover dividend payments and STRC at record lows, doubts about the long-term viability of this model are growing. The debate highlights broader questions about financial engineering in the crypto sector and the limits of conviction-driven accumulation in volatile markets.

Source: CoinDesk; CoinDesk (Garlinghouse)