Strategy Chairman Michael Saylor published a new presentation on social media designed to prove to investors that his company has found a way to generate record dollar-denominated yields using Bitcoin. In the newly released slides, Strategy is positioned not as a passive cryptocurrency accumulator but as a full-scale "digital credit" factory.
Saylor is offering the market a range of preferred shares and bonds — STRD, STRC, STRK and STRF — that package $BTC volatility into fixed coupons.
Bitcoin is Digital Capital. Strategy transforms it into Digital Credit. $BTC pic.twitter.com/aeJmWpCWIl
— Michael Saylor (@saylor) July 14, 2026
According to Saylor's charts, the effective yield on the junior STRD securities stands at 16.69%, while the flagship STRC offers 13.79%, significantly higher than traditional government bonds, with IEF yielding 4.00%. Saylor claims that the system is sustainable and that Strategy's current $BTC reserves would be sufficient to fund payments for 31 years even with zero market growth.
However, the presentation was released amid intense criticism. The double-digit figures shown on Saylor's slides are largely driven by the decline in the market prices of the debt instruments themselves, with STRD trading at $60.42 and STRC at $88.28.
How Strategy plans to fund the coupons amid a $9.8 billion paper loss
The market is pricing in substantial risk because of the company's enormous $9.89 billion unrealized loss. Strategy holds 843,775 $BTC at an average purchase price of $75,482, while the current value of the position stands at $53.8 billion.
To contain the wave of criticism triggered by its recent forced sale of $218 million worth of Bitcoin, the company abruptly changed its strategy and completely froze cryptocurrency purchases. Instead, Strategy officially announced yesterday that it had raised $466.7 million through its ATM program.
Whether this emergency financial buffer can restore confidence in Saylor's securities, or whether the company's multibillion-dollar debt burden will continue dragging its share prices lower, is perhaps one of the biggest questions facing the crypto market in the summer of 2026.