MicroStrategy(US:MSTR) Sou Hu Cai Jing·2026-02-10 03:25Core Viewpoint - Strategy, the largest corporate holder of Bitcoin, remains committed to its Bitcoin acquisition strategy despite market volatility and concerns about its financial health [2][4][7]. Group 1: Company Strategy - Strategy's Bitcoin strategy manager, Chaitanya Jain, stated, "We will never stop buying Bitcoin," indicating a strong commitment to their investment approach [2][4]. - CEO Phong Le emphasized that the company will continue its strategy of raising funds through equity and debt to purchase Bitcoin, even during market downturns [4][7]. - The company has a significant Bitcoin reserve valued at approximately $49.4 billion, which is substantially higher than its total debt of $8.2 billion, providing a buffer against market fluctuations [4][6]. Group 2: Financial Health - Concerns about Strategy's financial situation have increased due to the ongoing volatility in Bitcoin prices, with rumors of potential bankruptcy circulating [4][7]. - The company has cash reserves of about $2.25 billion, sufficient to cover over two years of dividend payments, reducing the need for asset liquidation [4][6]. - The company's debt is not due for repayment until September 2028, allowing flexibility during market downturns [4][6]. Group 3: Market Dynamics - James Butterfill from CoinShares noted that the speculative bubble in digital asset reserve companies has burst, leading to a reevaluation of their business models [3][8]. - The initial purpose of digital asset treasury companies was to hedge against currency devaluation, but many have deviated from this model, focusing solely on accumulating Bitcoin [8]. - The market is expected to categorize digital asset treasury companies into four types, reflecting a shift in investment strategies and operational focus [8].