Michael Saylor Breaks Down How Strategy, Strive Can Grow the Bitcoin Credit Market

Michael Saylor has broken down how Strategy and Strive can compete for capital while helping expand the Bitcoin-backed credit market. In a new post, the Strategy chairman argued that both companies benefit when more investors enter the sector because Bitcoin remains the common asset behind their balance sheets.

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Michael Saylor Says Strategy and Strive Share a Bigger Market

Strategy CEO Michael Saylor said Strategy and Strive offer different securities and make separate financial decisions, but their businesses share the same foundation.

“BTC is Digital Capital. STRC and SATA are Digital Credit. MSTR and ASST are Digital Equity,” Saylor wrote.

He said the larger opportunity comes from attracting investors who currently allocate money to traditional stocks and fixed-income products.

Saylor cited SIFMA data showing global equity markets reached $157.8 trillion at the end of 2025, while global fixed-income debt stood at $160.7 trillion.

He argued that Bitcoin credit products such as STRC and SATA compete with bonds, preferred securities and other income investments.

Strategy recently added another 1,665 BTC to its treasury, spending about $142.7 million raising its holdings to 847,666 BTC.

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Bitcoin Credit Issuers Could Support Each Other

Michael Saylor said more issuers could help investors become familiar with Bitcoin-backed credit products and make the sector easier to assess.

“An investor who learns how to evaluate SATA is better prepared to evaluate STRC,” Saylor said.

He added that wider adoption could reduce the extra return investors demand for taking exposure to unfamiliar securities. Lower financing costs could then allow companies to issue additional credit products under more favorable market conditions.

Strive has been expanding through its own SATA preferred stock. The company recently raised about $86 million through SATA sales as it continued building its Bitcoin treasury.

Strive also disclosed a $50 million purchase of Strategy’s STRC preferred stock in March, showing that the companies can compete in the same market while still holding exposure to each other’s products.

Saylor Points to Three Drivers for the Market

The Strategy CEO described Bitcoin appreciation, Digital Credit adoption and Digital Equity recognition as three factors that could reinforce one another.

He said stronger Bitcoin prices could improve asset coverage for treasury companies, while wider adoption of credit products could bring more capital into the sector.

However, he acknowledged that individual Bitcoin purchases cannot guarantee higher prices. As of today, Strive is the fifth-largest public holder of Bitcoin globally, coming behind only Strategy, Twenty One Capital, Metaplanet, and MARA.

As we reported, Strive has recently bought 1,107 BTC for $94.5 million between Sept. 21 and Sept. 25, taking its holdings to 27,462 BTC.

Meanwhile, Michael Saylor said the broader development of Bitcoin-linked credit would still depend on responsible management by individual issuers, with financing, liquidity, and governance risks remaining company-specific.