Michael Saylor Calls For Bitcoin Unity As Strategy's STRC Pause Hands Critics Fresh Ammunition

STRC's decline to about $88 gives critics of leveraged Bitcoin accumulation fresh ammunition as scrutiny of treasury-company financing models intensifies.

• Michael Saylor urged Bitcoiners to focus on the "99% that matters," saying "the opportunity is bigger than the argument.”
• The comments came as Strategy halted at-the-market sales of its STRC preferred shares after the security fell below its $100 par value.
• Twenty One Capital’s Jack Mallers recently argued that companies issuing perpetual preferred equity are "signing up to owe money forever," pointing to STRC's roughly 11.5% perpetual coupon.

Strategy Inc (MSTR) Executive Chairman Michael Saylor called for unity among Bitcoin (BTC) advocates on Sunday as debate over Bitcoin treasury strategies continues to divide some high-profile executives.

"Bitcoiners agree on the 99% that matters. We shouldn't let the 1% divide us while nearly all global capital has yet to enter Bitcoin's monetary network. The opportunity is bigger than the argument," Saylor wrote on X.

His post comes as one of Strategy's key financing vehicles faces growing pressure. The company's Variable Rate Series A Perpetual Stretch Preferred Stock, known as STRC, has fallen below its $100 issuance par value, forcing Strategy to pause at-the-market sales of the security after indicating further issuance was no longer viable at current prices.