Strategy CEO Phong Le is moving to solidify investor confidence amid stock price fluctuations by intensifying the company’s focus on its “Stretch” perpetual preferred shares.
As reported by Bloomberg, this initiative is designed to offer investors a steadier path to digital asset exposure. Critically, the move will also continue to finance the firm’s robust and ongoing Bitcoin accumulation strategy.
Strategic shift toward digital credit
While common stock (MSTR) and convertible debt have historically been the primary drivers of Strategy’s Bitcoin acquisitions, the firm is now pivoting toward a more complex “Digital Credit” framework.
So far, perpetual preferred shares have comprised a relatively small portion of the company’s total financing. However, CEO Phong Le elaborated that expanding the STRC ecosystem is a priority for 2026 to generate “amplification” for common stock investors while providing asset coverage for credit investors.
The company recently reported that it raised $25.3 billion in capital throughout 2025, solidifying its position as the largest equity issuer among U.S. public companies. Of this, approximately $5.5 billion was raised through various preferred stock offerings.
Bitcoin treasury reaches new milestones
The expansion of these credit products comes as Strategy continues its relentless pace of Bitcoin accumulation. Between February 2 and February 8, 2026, the company acquired an additional 1,142 BTC for approximately $90 million. This latest purchase brings the firm’s total holdings to 714,644 BTC, acquired at a total cost of roughly $54.4 billion.
Despite a recent market downturn that briefly pushed the company’s treasury into a notional loss, executive chairman Michael Saylor remains committed to the “indefinite bitcoin horizon.” The firm’s conservative liability structure ensures that no major debt maturities occur until 2028, providing a significant runway to weather short-term market turbulence.
Metaplanet CEO Simon Gerovich reaffirmed the firm’s Bitcoin-first strategy, stating on X that despite a sharp market drawdown, there would be “no change.” He stressed the company will continue accumulating Bitcoin, growing revenue, and preparing for the next growth cycle. Despite his confidence, Metaplanet’s shares closed Friday down 5.56% on the Tokyo Stock Exchange at 340 yen (approx. $2.16).
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