Michael Saylor

Bitcoin is inside the gates of Wall Street.

Governments can accelerate Bitcoin adoption. Governments can delay Bitcoin adoption. They cannot stop Bitcoin. Block by block. Nation by nation. Bitcoin advances.

Once one faction captures consensus, every faction learns it can seize through politics what it could not earn in the market. Protocol warfare becomes permanent. Capital flees, innovation dies, security erodes, and Bitcoin is doomed to 1% of its potential.

Keep Bitcoin’s base layer simple, neutral, scarce, and secure. Keep innovation at the edges, where adoption is voluntary and failure is local. Protocol changes must be rare, conservative, and driven by necessity, not ambition. Defend Bitcoin’s constitution. Defend the future.

Bitcoin has won. Now it must survive victory. Its gravest threat is not an enemy at the gates, but corruption from within: factions that invent pretexts, rewrite the rules, and seize economic rights until freedom becomes permission and law becomes loot.

BIP-110 is the latest outbreak of the “I just heard about Bitcoin, and I’m here to fix it” syndrome.

Bitcoin’s core design is set in stone. Protocol changes should be rare, conservative, and driven by necessity, not ambition. Don’t fix what isn’t broken.

Repurchases will be funded outside the USD Reserve, including through MSTR and BTC sales, based on market conditions. Our objective is for STRC to trade near $100 with high liquidity, low volatility, and healthy, sustainable independent demand. We will not issue below $100.

We repurchased 288,930 shares of $STRC for $25M at an average price of $86.52 per share. We intend to remain a regular, disciplined buyer of STRC below $100. More at deeper discounts, less as STRC nears $100. Another $975M remains available for our prefs.

Strategy has increased its USD Reserve by $525 million, achieving 2.1 years of dividend coverage. As of 7/26/2026, we hodl ₿843,775 in our BTC Reserve and $3.75 billion in our USD Reserve. $MSTR $STRC