As Strategy’s (MSTR) share price continues to fall, CEO Michael Saylor has felt compelled to address growing investor concern for the second time in two weeks.
Last Friday, Saylor dismissed rumors that the company was selling bitcoin, stating that “the rumor was not true.”
Meanwhile, on Thursday, market nerves were hit again after JPMorgan warned that an upcoming decision by MSCI could force MSTR out of major stock indexes, potentially triggering further downside volatility.
Saylor responded once again on X, defending the company’s status within the MSCI framework and highlighting that Strategy is a publicly traded operating company with a roughly $500 million software business at its core.
“The strategy is not a fund, not a trust, not a holding company. We are a publicly traded operating company with a $500 million software business and a unique treasury strategy that uses bitcoin as productive capital,” Saylor said.
Saylor argued that while funds and trusts passively hold assets, Strategy is actively creating, structuring and issuing products, positioning the company as a new type of structured financial company backed by bitcoin.
“This year alone, we have completed five public offerings of digital credit securities, STRK, STRF, STRD, STRC and STRE, representing more than $7.7 billion in notional value,” Saylor added.
Saylor concluded that no passive vehicle or holding company could replicate what Strategy has built.
MSTR shares fell another 3% on Friday, trading near $171.
