Key Takeaways:
- Michael Saylor says Bitcoin issuers can scale hand-in-hand but not compete.
- From its mere 0.1% of the world’s major markets, it is his estimation that this represents a $160 billion opportunity.
- Strategy and Strive is developing separate products with the same base of Bitcoin capital.
Bitcoin treasury companies don’t have to bicker with one another as a form of direct zero-sum game, according to Michael Saylor.
In a recent post, the Strategy executive chairman argued that firms such as Strategy and Strive can attract different investors while helping expand the broader market for Bitcoin-linked capital, credit and equity products.
https://t.co/F6p7yp18nu
— Michael Saylor (@saylor) September 30, 2026
Saylor Sees a $160B Opportunity Outside Crypto
Saylor begins his discussion with the dimensions of traditional capital markets. Global equity market capitalization reached about $157.8 trillion at the end of 2025, while global fixed-income debt stood at roughly $160.7 trillion.
A 0.1% allocation from both markets would vary from about $160 billion, the amount Saylor demonstrated was still a tiny portion of the traditional finance treasury when compared to Bitcoin.
According to his plan, Bitcoin is Digital Capital, preferred securities like STRC, SATA are Digital Credit, and MSTR, ASST are Digital Equity. Decisions vary among these groups based on investors’ goals ranging from equity exposure to income to capital appreciation.
Read More: Michael Saylor Sparks Fresh Bitcoin Buy Buzz as Strategy Nears $62B BTC Stockpile
Bitcoin Connects Strategy and Strive
Both Strategy and Strive issue their own securities and make their own financing choices; however, Bitcoin is a central balance-sheet asset.
If one company raises capital and purchases Bitcoin, then a stronger demand for Bitcoin can benefit other companies which own BTC indirectly, Saylor suggests.
But that’s not all that it takes to drive Bitcoin up. However, price continues to be influenced by the global market demand. Even if they are rivals seeking investors’ dollars, he argues, treasury companies are aligned through exposure to the same underlying asset.
More Digital Credit Issuers Could Expand the Market
Saylor also thinks that there’s room for other, reliable credit issues to get up and clarify the investment of credit products backed by Bitcoin. The more security, the more of its trading history, its research coverage and degree of institutional familiarity.
As investors reach a higher comfort level in assessing products like STRC and SATA, over time they could settle for lower risk premiums. That might make financing more favorable for those with decent balance sheets and management.
Saylor reaffirmed that no Bitcoin per se tests out offering any coupon income. There is no risk-reward alignment in Bitcoin’s long-term performance and financing costs, only execution and market conditions and capital management.
Read More: Strategy Sells Bitcoin for First Time Since 2022 While Still Holding 843,706 BTC
Strive Already Holds $50M of Strategy’s STRC
The relationship between Strategy and Strive is already more than theoretical. In March 2026, one Bitcoin-focused company Strive made a $50 million investment to buy STRC from strategy, which was the issuer’s credit product.
Saylor sees this kind of overlap as proof that Bitcoin treasury companies can exist in the same eco-system as competition and customers.
His broader thesis is that Digital Capital, Digital Credit and Digital Equity can reinforce one another by bringing more investors, liquidity and financial products into the Bitcoin market.
