Michael Saylor Believes These 'Headwinds' Are Slowing Growth Of Strategy, Other Bitcoin Treasury Firms : 'What We Need To Do Is...'

Core Insights - Michael Saylor, Executive Chairman of Strategy, highlighted challenges affecting the growth of the company and the Bitcoin treasury industry, particularly the perception of Bitcoin as capital by traditional credit rating systems [1][2][3] Group 1: Challenges Identified - The primary challenge is that Bitcoin is not recognized as capital by the traditional credit ratings industry, which Saylor describes as a "structural" problem [2][3] - Saylor emphasized the need for Bitcoin to be classified as collateral and assigned a collateral value under conventional banking, insurance, and credit rating rules [3][4] Group 2: Proposed Solutions - Saylor suggested that banking acceptance, custody, and credit for Bitcoin need to improve, advocating for major U.S. banks to engage in purchasing, selling, and custodying Bitcoin, as well as issuing credit against it [5] - He called for lobbying efforts directed at banks and insurance companies rather than relying on new laws to facilitate these changes [5] Group 3: Education and Awareness - Saylor stressed the importance of educating traditional fixed-income investors, retirees, and corporate treasurers about Bitcoin as a viable investment alternative [6] Group 4: Financial Performance - Strategy reported mixed third-quarter financial results, with earnings of $8.42 per share, missing the consensus estimate of $10.57, but exceeding revenue expectations at $128.69 million compared to the estimated $118.43 million [6] - The company disclosed holding 640,808 BTC, valued at over $70 billion, reinforcing its position as a leading cryptocurrency treasury company [7]