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

The firm says its "digital credit" shift needs new yardsticks that strip out debt and preferred claims to show what common shareholders own.

Raccontata da

coindesk.com

decrypt.co

cryptobriefing.com

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AI · summaries

decrypt.coStai leggendo3 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.

originale

cryptobriefing.com3 g fa

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

Strategy Inc. introduced Net Bitcoin Per Share: $36.6B residual claim for common shareholders after $22.3B senior obligations. The 1.0x mNAV guardrail limits dilution in future fundraising; 3.22% Bitcoin Breakeven Return indicates minimal annual BTC appreciation needed to service debt.

Timeline cronologica

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
venerdì 24 luglio 2026·decrypt.co
Strategy Overhauls Bitcoin Metrics, Debuting 'Net Bitcoin Per Share' - Decrypt
The firm says its "digital credit" shift needs new yardsticks that strip out debt and preferred claims to show what common shareholders own.

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

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

Timeline cronologica

Strategy overhauls bitcoin metrics to account for senior claims

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

Strategy overhauls bitcoin metrics to account for senior claims

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