As Strategy’s ( MSTR ) share price continues to fall, executive chairman 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, saying there was “no truth to the rumor.”
Meanwhile, on Thursday, market nerves were hit again after JPMorgan warned that an upcoming MSCI decision could force MSTR out of major stock indexes, potentially triggering further downside volatility.
Responding to X once again, Saylor defended the company’s status within the MSCI framework, stressing that Strategy is a publicly traded operating company with a roughly $500 million software business at its core.
“Strategy is not a fund, not a trust and not a holding company. We are a publicly traded operating company with a $500 million software business and a unique financial strategy that uses bitcoin as productive capital,” Saylor said.
Saylor argued that while funds and trusts passively hold assets, Strategy actively creates, structures and issues products, positioning the company as a new type of bitcoin-backed structured finance company.
“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,” added Saylor.
Saylor concluded that no passive vehicle or holding company could replicate what Strategi has built.
MSTR shares fell another 3% on Friday, trading near $171.
