Technique Says It Has Ample Flexibility For Extra Bitcoin Buys

Technique CEO Phong Le says Michael Saylor’s agency has “extra flexibility than ever” to proceed shopping for Bitcoin.

Talking on the “What Bitcoin Did” podcastLe mentioned that Technique has a capital construction that’s constructed on long-dated debt and that there is no such thing as a short-term strain on its potential to boost funds.

The $60 Billion Bitcoin Wager | @Technique CEO Phong Le https://t.co/H216CRFggP pic.twitter.com/w0WBg42PaD

— Michael Saylor (@saylor) November 28, 2025

Capital Markets The Cause Technique Can Purchase Bitcoin In Completely different Market Cycles

Technique is the biggest company Bitcoin holder globally, and began buying BTC as a part of its treasury again in 2020.

Information from Bitcoin Treasuries reveals the agency holds 649,870 BTC valued at about $59 billion at present costs.

Technique’s BTC holdings (Supply: Bitcoin Treasuries)

These holdings had been acquired by means of a collection of purchases that had been funded through convertible be aware tranches which are long-dated and carry little near-term dilution danger.

Le mentioned capital-markets are the “magic” that permits Technique to proceed its Bitcoin accumulation by means of a number of market cycles, including that its steadiness sheet is engineered to keep away from liquidity stress and to depart room open for opportunistic issuance.

The corporate’s first debt maturity is just set for December this yr, giving Technique “a number of flexibility to be opportunistic,” he mentioned.

He argued that Technique at the moment has extra flexibility than at any level in its historical past, citing the corporate’s potential to boost fairness by means of at-the-market packages in addition to its monitor file of issuing zero-coupon or low-coupon convertible notes.

“We’ve proven we will do each,” he mentioned, including that the agency can both elevate extra capital throughout robust fairness markets or lean on the convertible notes when charges and market circumstances favor long-duration issuance.

Technique Share Value In A Quick-Time period Uptrend

The corporate rebranded from MicroStrategy to Technique earlier this yr, and has transitioned from a conventional software program firm to a hybrid enterprise combining enterprise analytics with a Bitcoin-buying treasury plan.

Le acknowledged that some traders nonetheless query learn how to worth Technique, particularly given the volatility round Bitcoin’s value. Technique’s MSTR inventory has plummet over 52% previously six months.

Technique share value efficiency over the previous 6 months (Supply: Google Finance)

That, and the drop within the Bitcoin value, triggered Technique’s Market Internet Asset Worth (MNAV), which is the ratio of the corporate’s market cap to the web asset worth of its crypto holdings, to plunge. The ratio has since recovered considerably to stand at 1.13.

MSTR has recovered previously week, climbing 2.4% after a achieve of 0.8% previously 24 hours. The restoration coincided with a 5% bounce within the Bitcoin value over the previous week.

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