Saylor Says Strategy and Strive Can Thrive Together in Bitcoin Market

Michael Saylor has argued that Strategy and Strive can both benefit from each other's growth in the market for Bitcoin-backed preferred securities. According to Saylor, this is because several companies competing for investor capital can bring new research, trading liquidity, and institutional attention to the category.

The two companies are separate businesses with different securities, liabilities, and management decisions. Strategy issues STRC, while Strive issues SATA. Both are perpetual preferred securities but have different terms and dividend schedules.

Strive already owns a portion of Strategy's STRC preferred stock, acquired in March for $50 million. This investment has helped extend Strive's SATA dividend reserve to 18 months. The position remains on Strive's balance sheet, with a fair value of approximately $49.76 million as of September 25.

Saylor believes that if corporate buying contributes to wider Bitcoin adoption and the asset appreciates, other companies holding Bitcoin can benefit even when they did not make the specific purchase. However, he acknowledged that individual corporate purchases do not guarantee a higher Bitcoin price and that both Strategy and Strive remain exposed to Bitcoin market declines.