Strategy (MSTR) news: Michael Saylor gets into it with X critics
Strategy’s latest bitcoin purchase triggered a public dispute over whether the deal was accretive or dilutive. The debate centers on Strategy’s BTC Yield metric, which measures bitcoin holdings per assumed diluted share. After buying 1,550 BTC, BTC Yield slipped from 13.0% to 12.8%, while assumed diluted shares rose and BTC Gain YTD declined, leading critics to call the transaction dilutive on a bitcoin-per-share basis. Michael Saylor responded that BTC Yield is only a narrow KPI and does not capture broader shareholder value. He said the deal also added about $100 million in U.S. dollar reserves, bringing total cash reserves to $1 billion, making the transaction accretive when bitcoin and cash are considered together. The exchange sparked criticism that Strategy is shifting metrics to support its narrative.
