Strategy has reaffirmed its ambition to become the world’s largest company by market capitalisation, setting out a strategy based on bitcoin reserves, digital credit and equity issuance.
The company, listed on Nasdaq as MSTR, restated the objective in a 5 August post on X, after first outlining it in its second-quarter 2026 financial results presentation published on 30 July.
Strategy said it intends to pursue the goal by holding more capital through bitcoin, issuing digital credit through its STRC security and creating what it describes as stronger equity through MSTR.
The structure links the company’s three principal financial components. Bitcoin acts as the reserve asset, STRC is used to raise digital credit and MSTR provides common shareholders with amplified exposure to bitcoin through Strategy’s capital-management approach.
According to management, combining the bitcoin reserve, digital credit securities and common equity is intended to support further capital formation, continued bitcoin purchases and growth in bitcoin per share. The company also says the model gives it greater financial flexibility.
Strategy’s updated dashboard, published on 5 August, reported holdings of 842,138 BTC. That represents 4.01% of bitcoin’s maximum supply. The company valued the reserve at $58.4bn and gave a net reserve value of $36.3bn.
The dashboard also listed Strategy’s market capitalisation at $38.1bn, debt at $6.75bn and preferred stock at $15.35bn. It reported a $4bn US dollar reserve and net leverage of 5.06%.
A key element of the plan is STRC, which Strategy presents as a digital credit product designed to help fund further bitcoin accumulation while opening access to investors seeking income-oriented assets.
The presentation sets a target for annual digital credit sales equivalent to between 10% and 20% of the company’s BTC reserves. It also aims to double bitcoin per share within seven years.
On 4 August, Strategy said on X that restoring STRC to its $100 par value remained a key objective. The $100 amount is the preferred security’s stated face value and provides a benchmark for assessing whether it is trading at a discount or premium. Its market price continues to be determined by investor demand and prevailing market conditions.
Founder and Executive Chairman Michael Saylor has continued to link Strategy’s long-term position with disciplined capital management during periods of market volatility. He recently reaffirmed the company’s focus on bitcoin, identifying bitcoin, credit quality, transparent execution and long-term value creation as its central priorities.
Strategy describes MSTR as amplified bitcoin exposure, supported by what it calls intelligent leverage. The company says this is intended to increase bitcoin per share and improve the long-term value of its common stock.
Its presentation showed that MSTR had delivered an annualised performance of 42% since Strategy adopted its bitcoin standard in August 2020, compared with 32% for bitcoin over the same period.
President and Chief Executive Officer Phong Le said MSTR had outperformed bitcoin in every rolling four-year holding period examined since the treasury strategy began. Institutional involvement has also grown, with 13 of Strategy’s 15 largest shareholders increasing their combined holdings by 27% during the first quarter.
Le described Strategy as the “JPMorgan of the crypto economy,” presenting it as a bitcoin-focused capital markets platform rather than a conventional corporate treasury. Saylor later repeated the phrase on X, reinforcing the company’s model of combining bitcoin reserves, digital credit, preferred securities, equity issuance and active balance-sheet management.
Regulatory developments are also part of Strategy’s push to encourage wider institutional adoption of digital assets. Strategy and Saylor endorsed the CLARITY Act on 31 July, describing it as legislation that could provide consumer protection, property rights and stronger US capital markets, while offering greater regulatory certainty for digital assets.
On 13 July, Strategy unveiled its Bitcoin Banking Adoption Index. The index found that major banks and financial institutions are expanding bitcoin…
