Saylor: Bitcoin-Backed Credit Issuers Can Thrive Together in Institutional Market
Michael Saylor, Executive Chairman of Strategy, argued that Bitcoin-backed credit issuers complement one another in the marketplace, rather than cannibalizing institutional capital flows.
In a corporate post on X, Saylor explained that entities structuring balance sheets around cryptocurrency share an underlying capital base, unlike legacy rivalries seen across retail or consumer goods.
The Smarter Web Company reported a 66.4% gain on the London Stock Exchange in 2026, closing at 69.49 pence on September 30. The company held 2,747 BTC on its corporate balance sheet, ranking 29th globally among publicly traded companies.
Saylor's financial model categorizes institutional treasury assets into digital capital, digital credit, and digital equity. He views Bitcoin as the foundational definition of digital capital, with preferred securities like Strategy's STRC and Strive's SATA falling under digital credit, and common stock representing digital equity.