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Michael Saylor says Strategy is prioritizing STRC, cash reserves and credit business over buybacks
Michael Saylor称Strategy目前优先考虑STRC、现金储备和信贷业务，暂不优先回购股票
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✓ Key facts
- Michael Saylor said Strategy is currently prioritizing STRC preferred stock, cash reserves, and its credit business over share buybacks.
- He said stock buybacks could be considered if MSTR trades at a very deep discount to net asset value, but that is not a current priority.
- CEO Phong Le said issuing new MSTR shares can add more bitcoin per share when the stock trades above the value of the underlying assets.
- The company said it already holds $4.8 billion in cash to support dividend payments and plans to keep a large cash balance for flexibility.
- Saylor said Strategy needs to be able to both sell and buy bitcoin, and told investors to think in a multi-year time frame.
For markets, the remarks are likely neutral to mildly negative for MSTR in the short term because they lower the near-term chance of buybacks, while remaining broadly supportive for bitcoin as the company reiterates it will continue managing its BTC exposure over time.
中文版
Michael Saylor称Strategy目前优先考虑STRC、现金储备和信贷业务，暂不优先回购股票
对市场而言，这番表态短线对MSTR偏中性至略偏空，因为提高回购预期的空间有限；对比特币则整体偏中性，原因是公司仍重申会继续按市场条件管理其BTC敞口。
Original reporting: panewslab.com. StarLive rewrote this story in its own words, preserving the facts; the full third-party article is not reproduced. AI-generated · market intelligence, not financial advice.
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