Saylor Says Strategy Added More Than 716,000 BTC Since 2022 Balance Sheet Stress

Michael Saylor has returned to one of the most dramatic periods in Strategy’s Bitcoin bet, contrasting the company’s 2022 balance sheet stress with what he says is now a much stronger reserve position.When I gave this speech in October 2022, Bitcoin traded near $20,000, Strategy held 130,000 BTC worth about $2.6 billion, and $MSTR was ~$24 split-adjusted. Weeks later, after Bitcoin fell below $16,000, our debt exceeded the combined value of our BTC and cash reserves by ~$300…