Michael Saylor continues to advocate for the digital-asset treasury model amid market turmoil. Strategy Inc. purchased $835.6 million in Bitcoin, now holding 649,870 tokens worth $61.7 billion. Bitcoin’s recent 30% drop has impacted digital-asset treasury companies like Strategy, testing investor conviction. Strategy’s mNAV has fallen sharply, signaling challenges in the market.

Since announcing Bitcoin purchases in 2020, Strategy’s stock surged over 1,500%. However, it has dropped 57% since its all-time high in 2024. Saylor funded Bitcoin purchases through common shares, later issuing convertible and preferred shares. Strategy recently completed a €620 million preferred stock sale, doubling its original target, to raise capital.

Saylor’s digital-asset treasury model faces challenges as mNAV premiums shrink and confidence weakens. Other crypto wrappers like BitMine Immersion Technologies Inc. and Nakamoto Holdings Inc. also experience valuation erosion. Strategy’s $2.47 billion Bitcoin purchase in July was the third-largest since weekly announcements began. The market remains volatile amid changing dynamics.

Read more at Yahoo Finance: Strategy Makes $835 Million Bitcoin Bet, Largest Since July