Crypto
Michael Saylor sets out new \'bitcoin per share\' metric for Strategy value
Michael Saylor introduced a new yardstick for valuing bitcoin-holding company Strategy, proposing “bitcoin per share” to gauge bitcoin attributable to each share and to factor in debt. He also outlined BTC Yield and a debt-adjusted measure, CEBE BPS. The move comes as investor concern grows over Strategy’s debt-funded bitcoin buying. As of mid-June 2026, Strategy held 845,256 bitcoin valued at about $54.36 billion, with an unrealised loss of about 15 percent.
