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Saylor Splits Bitcoin Treasury Firms Into Three Capital Pools

  • —Saylor outlined three categories: Digital Capital, Digital Credit and Digital Equity
  • —Strategy's STRC and Strive's SATA are classified as Digital Credit
  • —Strategy raised about $7.53 billion via preferred securities in H1 2026
  • —Strive invested $50 million in Strategy's STRC preferred stock
Why it matters: Saylor's framework signals that Bitcoin treasury firms should be judged on capital structure, not just BTC holdings, as more issuers tap preferred and debt markets.
Source: The Crypto Times