Saylor says Strategy wants Bitcoin treasury rival Strive to succeed

Michael Saylor says Bitcoin treasury rivals such as Strive are allies, even though they compete with Strategy for investors. In a Wednesday post, Saylor said both companies use Bitcoin as capital, credit products such as STRC and SATA, and equity such as MSTR and ASST. Saylor cited SIFMA data showing global equity markets reached $157.8 trillion by the end of 2025. The data showed global fixed-income debt reached $160.7 trillion by the end of 2025. Saylor said one-tenth of one percent of either market represents roughly $160 billion. He argued that Bitcoin treasury companies should pursue those markets rather than compete over existing investors. Saylor said a company's Bitcoin purchase increases demand for an asset with a fixed supply. He argued that every holder benefits if the purchase helps raise Bitcoin's price. Saylor cited Strive's $50 million purchase of Strategy's STRC preferred stock in March as an example of the companies acting as customers of one another. Saylor argued that successful credit products can build investor trust in the category and lower borrowing costs. He said proven business models can increase equity investors' confidence and lift valuations for well-run companies. Saylor compared the companies to early automakers and fuel suppliers, which he said grew together. He argued that Bitcoin treasury companies need mutually supportive capital, credit, equity and payments infrastructure. Saylor warned that a poorly run issuer can damage trust across the category, while a strong issuer can build it. He said he welcomes capable companies that compete responsibly. The article identifies $164 to $172 as a resistance zone for MSTR and $146, its 20-day exponential moving average, as key support.