Bitcoin Obsession Costs Saylor — S&P Tags Strategy As ‘Junk’
Strategy Inc., the company led by Michael Saylor that rebranded from MicroStrategy, was hit with a junk credit grade on Monday as S&P Global Ratings flagged its heavy concentration in Bitcoin and weak dollar liquidity. Related Reading: Bitcoin Buzz: Michael Saylor Drops ‘Orange Dot Day’ Hint According to S&P, the firm’s balance sheet is tied closely to the price of Bitcoin and carries risks that traditional ratings models find hard to treat as stable collateral. Bitcoin Holdings Drive The Score Based on reports, Strategy’s Bitcoin stack is enormous — about 640,808 BTC on its books — worth....
Related News
Michael Saylor’s Strategy has just announced a new Bitcoin purchase, suggesting the price dip hasn’t stopped the company from buying more. Strategy Has Made A Fresh Addition To Its Bitcoin Treasury As announced by Strategy chairman Michael Saylor in a new post on X, the company has completed a new Bitcoin acquisition involving 3,018 BTC. […]
Following a week of Bitcoin buying pause, Michael Saylor’s Strategy has gone back to accumulation with a fresh acquisition. Strategy Has Bought Another $27.2 Million Worth Of Bitcoin As announced by Strategy co-founder and chairman Michael Saylor in an X post, the Bitcoin treasury company has just made a new purchase. The buy, which occurred […]
Michael Saylor’s Strategy has unveiled its latest Bitcoin acquisition, which has taken its holdings to the 3.2% BTC supply milestone. Strategy Has Just Added 1,955 Tokens To Its Bitcoin Treasury In a new post on X, Strategy co-founder and chairman Michael Saylor has revealed the details related to the latest Bitcoin purchase made by the […]
MicroStrategy CEO Michael Saylor says institutional interest in Bitcoin is snowballing. He predicts the coming year will see a flood of companies follow MicroStrategy’s lead to acquiring Bitcoin as a treasury strategy. More interestingly, Saylor claims contact with at least a hundred private companies that have already implemented this strategy. However, given the lack of […]
Michael Saylor’s Strategy has announced a new Bitcoin buy involving 850 BTC shortly after the cryptocurrency’s price tumbled below $113,000. Strategy Has Added Another $100 Million Worth Of Bitcoin To Treasury As revealed by Strategy Chairman Michael Saylor in an X post, the Bitcoin treasury company has just added more of the cryptocurrency to its […]