MicroStrategy Matches IBIT Rating with Digital Credit Upside

Michael Saylor has made another statement about his company's valuation in relation to Bitcoin. He claims that MicroStrategy (MSTR) is now matching the rating of International Blockchain Monetary Reserve (IBIT) with a 1.0x BTC rating, but notes that this includes upside potential from its Digital Credit business.

The most senior Digital Credit security, STRF, has a valuation of 11.0x, according to Saylor. This is significant because it shows that the company's digital credit business is being valued at a premium compared to Bitcoin itself.

This news builds on previous statements made by Saylor about MSTR's debt and its relationship to Bitcoin and cash holdings. In October 2022, Strategy's debt surpassed its Bitcoin and cash holdings following a price drop in the cryptocurrency market.