- Strategy Inc. leverages equity and debt markets to buy Bitcoin, turning its balance sheet into a self-reinforcing crypto engine.
- Michael Saylor’s conviction-driven model has outperformed Bitcoin and all but one crypto ETF in 2025.
- Strategy stock trades at a hefty premium, fueled by market momentum and a belief system that no ETF can replicate.
As Bitcoin charges into all-time high territory in Q2 2025, one man and one company continue to dominate the narrative–Michael Saylor and his rebranded firm, Strategy Inc. Formerly MicroStrategy, the company is not just riding the crypto wave, it is powering it.
As Wall Street races to engineer new Bitcoin-linked financial products, Saylor’s original “capital-markets hack” still reigns supreme. In an X post, CryptoQuant CEO Ki Young Ju summed it up nicely:
“Saylor hacked the US capital markets and rerouted liquidity into Bitcoin.”
Ki Young Ju likened Strategy Inc. to a kind of perpetual-motion engine—a Bitcoin treasury firm that simply never stops accumulating. Fueled by market volatility and strong narrative momentum, Strategy Inc.’s model of selling stock and debt to buy more Bitcoin has effectively turned its corporate balance sheet into a relentless Bitcoin accumulation machine. Ju added a striking comment: “’Up only’ from permabulls doesn’t feel like a meme anymore.”
The Strategy Inc. Playbook: Raise Capital, Buy Bitcoin, Repeat; Stock Up 26% YTD
Strategy Inc.’s model is deceptively simple yet undeniably potent:
- Raise capital via equity and debt markets.
- Buy Bitcoin.
- Watch Bitcoin’s value soar.
- Use newfound valuation to raise more capital.
- Repeat.
After a huge 2024, this “flywheel” approach isn’t showing any signs of slowing down in 2025. Strategy Inc. stock is already up 26% year-to-date, outperforming Bitcoin’s own 16% gain and leaving nearly every crypto ETF on the market in the dust.
Even leveraged ETFs designed to track Strategy (MSTX and MSTU) are trailing the firm’s own stock, a testament to the inefficiency of daily rebalancing and the raw power of Saylor’s leveraged conviction. Analyst Matt Maley put in bluntly as per a report from Bloomberg:
“He’s not just playing Bitcoin, but also his own stock and the stock market to his advantage — and using leverage at the right times.”
Related: Bitcoin ($BTC) Price Prediction for May 29: Can Bulls Hold $108K As Momentum Stalls?
This “premium” on Strategy’s stock acts as rocket fuel during uptrends, unlocking more balance sheet firepower to buy even more Bitcoin. As of May 2025, the company holds over 214,000 BTC, worth more than $60 billion, and has signaled plans to raise another $84 billion through a mix of equity and fixed-income instruments.
Strategy Inc: More Than a Bitcoin Proxy—It’s a Maximalist Symbol, Outshining ETFs
Strategy isn’t just a Bitcoin proxy. It’s a cultural vehicle for Bitcoin maximalists, a way to bet not just on BTC price but on the very ideology that drives it. This conviction-based pricing puts Strategy in a class of its own, even in a market that now includes institutional offerings like BlackRock’s IBIT and Fidelity’s FBTC.
Related: Truth Social Parent TMTG Makes $2.5 Billion Bitcoin Bet, Signaling Major Fintech Push
Despite competition, no ETF has managed to bottle the narrative reflexivity and community-driven premium that Strategy commands. As a result, its market cap has exploded from $1 billion to over $100 billion in five years–all beginning with Saylor’s first Bitcoin buy.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
