Criticising the slumping Bitcoin treasury space? Well, Michael Saylor wants to have a word. On a January 12 What Bitcoin Did podcast, Strategy’s founder and the creator of the digital asset treasury trade went berserk when the interviewer, Danny Knowles, asked him whether the market can handle the more than 200 treasuries that are currently tagging themselves as treasuries — and if their model of issuing debt to buy Bitcoin is actually sustainable. “Who are you to say that they are just issuing debt to ...

Hardly a year after it began, the Bitcoin treasury model is falling apart. Just one Bitcoin treasury company managed to outperform the bellwether S&P 500 — which returned investors 16% — in 2025, according to a new report from BitcoinTreasuries.net. The Blockchain Group, a France-based treasury company, has soared roughly 164% since January 1. What about other Bitcoin treasuries? Every other major treasury has underperformed — Strategy is down 12%, Metaplanet has lost nearly one-third of its stock pri ...

Core Viewpoint - MicroStrategy's stock has dropped 30% in one month due to Bitcoin's significant selloff, which has impacted the cryptocurrency market and erased most of the gains made in 2025 [1][4]. Company Overview - MicroStrategy, under the leadership of chairman Michael Saylor, continues to accumulate Bitcoin, adding 8,178 BTC valued at $835.6 million to its balance sheet last week, bringing its total holdings to 649,870 BTC worth $48.37 billion, with an average cost of $74,433 per Bitcoin [2][4]. - The company's stock trades at $207, significantly below its all-time high of $543, resulting in a market capitalization of $57.4 billion [4]. Market Context - The recent decline in MicroStrategy's stock reflects broader panic in the cryptocurrency markets, highlighted by an $867 million outflow from spot Bitcoin ETFs in a single day [4]. - Investors are questioning whether MicroStrategy's leveraged investment strategy will be successful amid ongoing market volatility [4]. Investment Strategy - MicroStrategy's Bitcoin treasury model is reshaping investor perceptions of cryptocurrency exposure, but the company faces challenges in balancing its ambitious year-end targets [5]. - To achieve its goal of a 30% BTC yield, MicroStrategy needs to raise approximately $2 billion in non-dilutive capital within the next two months [6]. - The company currently holds about 3% of all Bitcoin that will ever exist, built through an innovative capital markets strategy described as a "credit factory" by CEO Phong Le [6]. Funding Strategy - MicroStrategy has shifted its funding approach, raising $19.8 billion this year, with 30% derived from four newly launched preferred equity offerings totaling $6.7 billion, moving away from reliance solely on convertible debt [7].

RT Cointelegraph (@Cointelegraph)🎧 TUNE IN: Is the real estate + Bitcoin treasury model the new meta?$4.7B real estate giant Cardone Capital founder @GrantCardone talks with Cointelegraph’s US news reporter @VinceQuill about why combining cash-flowing physical assets with $BTC creates a more resilient, scalable treasury structure. ...

🎧 TUNE IN: Is the real estate + Bitcoin treasury model the new meta?$4.7B real estate giant Cardone Capital founder @GrantCardone talks with Cointelegraph’s US news reporter @VinceQuill about why combining cash-flowing physical assets with $BTC creates a more resilient, scalable treasury structure. ...

Core Viewpoint - Bitcoin's recent price stability is interpreted as a sign of strength, indicating a consolidation phase in the market as long-term holders sell portions of their holdings while institutions prepare for larger investments [1][2]. Market Dynamics - The current market environment sees early adopters selling modest amounts of Bitcoin to meet real-world needs, such as housing and tuition, which is likened to employees of a high-growth startup liquidating stock options [2][3]. - Bitcoin's price has increased by 99% over the past year, and the reduction in volatility is viewed positively [2]. Institutional Adoption - Concerns regarding Bitcoin's lack of cash flows are dismissed, with the argument that many valuable assets, such as land and gold, also lack income streams [3][4]. - The company aims to reengineer credit markets by using Bitcoin as collateral, moving beyond the traditional store-of-value narrative [5]. Financial Products - Strategy has developed a suite of preferred-stock products designed to provide yields of up to 12%, heavily over-collateralized with Bitcoin, thereby giving Bitcoin cash-flow-like qualities [6]. - This approach is intended to broaden institutional adoption and attract more capital into the Bitcoin ecosystem [6]. S&P 500 Inclusion - The firm has recently become eligible for inclusion in the S&P 500 due to changes in accounting rules, with expectations for eventual inclusion as the market becomes more comfortable with the Bitcoin treasury model [7].

Market Trends & Incentives - The Bitcoin treasury model faces pressure due to high interest rates shifting incentives [1] Company Strategy - Strategy's approach stands out in the Bitcoin treasury model [1]