Michael Saylor Supports Bitcoin Rival Strive for Mutual Benefit

MicroStrategy Executive Chairman Michael Saylor expressed support for rival company Strive in an essay on X. Strive, which holds 27,462 BTC, ranks fifth among public Bitcoin holders, while MicroStrategy leads with 847,666 BTC. Saylor believes that Strive's success could increase demand for Bitcoin, benefiting both companies' asset values. He stated, 'I want every well-managed issuer of Bitcoin-powered Digital Credit to succeed.' Both firms raise funds to purchase Bitcoin and offer shares that provide regular income to investors, with MicroStrategy's shares called STRC and Strive's called SATA. Saylor noted that more sellers could enhance investor trust and lower borrowing costs. Strive CEO Matt Cole agreed, emphasizing the potential for Digital Credit to become a multi-trillion dollar asset class. Additionally, Strive purchased 50 million dollars of MicroStrategy's STRC shares in March and recently acquired 1,355 BTC. However, Saylor acknowledged the challenge of Bitcoin's lack of interest income, which necessitates funding from company cash or new fundraising. Strive raised 85% of its latest purchase through SATA sales, paying an average of 85,396 dollars per coin. Investor confidence remains cautious, with only four of the top 20 crypto treasury stocks trading above their held coin values.

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