Strategy shared its internal credit dashboard, which tracks details such as debt maturities, durations, interest exposure, and Bitcoin risk. The report shows a total debt of $8,214 and a matching cumulative national value. Most of this comes from the company’s Bitcoin-linked preferred instruments, including various STR-series tranches, totaling $7,779 and with a combined notional value of $15,993.
King pointed out that since Saylor’s first BTC purchase at around $11,000, the cryptocurrency has surged roughly 1,000%. In contrast, Strategy has generated only a 22% return over five years, equating to about 4.4% per year. King described this performance as “horrible,” attributing it to the firm’s seemingly flawed strategy of persistently buying Bitcoin at higher prices.
Featured image from Getty Images, chart from TradingView
