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Strategy overhauls bitcoin metrics to account for senior claims

New framework gives common shareholders a clearer view of net bitcoin exposure after preferred stock and convertible debt obligations

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coindesk.comStai leggendo3 g fa

Strategy overhauls bitcoin metrics to account for senior claims

Microstrategy introduces Net Reserve ($36.6B net of convertible debt/preferred stock) and 1.0x mNAV framework to clarify common shareholder value as bear market (BTC -50%, MSTR -84%) pressures returns. Framework reveals true bitcoin position net of $22.3B senior claims and guides when new equity issuance actually accrets value.

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decrypt.co3 g fa

Strategy Overhauls Bitcoin Metrics, Debuting 'Net Bitcoin Per Share' - Decrypt

MicroStrategy debuted "net Bitcoin per share" ($95, 43% CAGR) accounting for $22B debt against 843k BTC. The shift enables Bitcoin sales under "active capital management"—breaking Saylor's "never sell" doctrine and revaluing leverage-backed crypto treasuries.

Timeline cronologica

venerdì 24 luglio 2026·news.bitcoin.com
Michael Saylor Rolls out Net BTC and BTC Hurdle ARR to Reframe Strategy's $64 Billion Bitcoin Bet
Michael Saylor's Strategy unveiled Net BTC, BTC Hurdle ARR and BTC Floor ARR metrics July 24 to explain its 843,775 BTC treasury.
venerdì 24 luglio 2026·coindesk.com
Strategy overhauls bitcoin metrics to account for senior claims
New framework gives common shareholders a clearer view of net bitcoin exposure after preferred stock and convertible debt obligations

Strategy overhauls bitcoin metrics to account for senior claims

Confronto fonti

Strategy overhauls bitcoin metrics to account for senior claims

Strategy Overhauls Bitcoin Metrics, Debuting 'Net Bitcoin Per Share' - Decrypt

Timeline cronologica

Michael Saylor Rolls out Net BTC and BTC Hurdle ARR to Reframe Strategy's $64 Billion Bitcoin Bet

Strategy overhauls bitcoin metrics to account for senior claims

Strategy debuts Net Bitcoin Per Share metric to strip away the noise for common shareholders

Michael Saylor Rolls out Net BTC and BTC Hurdle ARR to Reframe Strategy's $64 Billion Bitcoin Bet

Strategy Overhauls Bitcoin Metrics, Debuting 'Net Bitcoin Per Share' - Decrypt

Strategy introduces new Bitcoin metrics tied to debt and preferred stock

Strategy debuts Net Bitcoin Per Share metric to strip away the noise for common shareholders

Strategy Adds $525M to USD Reserve, Pushing Dividend Coverage to 2.1 Years