Saylor Puts Strategy Beside the Magnificent 7 After MSTR Rally
Saylor is pointing to the heavy options activity around MSTR, while Strategy keeps leaning on Bitcoin sentiment with 847,363 BTC and a new capital policy.
Key Takeaways
- Michael Saylor is putting Strategy in the same conversation as the Magnificent 7 based on options data, calling MSTR the “MoST inteResting” stock.
- Strategy holds 847,363 Bitcoin, worth more than 4 percent of the circulating supply, while the stock continues to trade closely with BTC.
- The stock moved sharply in early July after a new capital policy, and the Q2 earnings report on July 30 will be the first real test.
Michael Saylor is once again trying to frame Strategy as one of the most attention-grabbing stocks on Wall Street, this time by lining it up against the Magnificent 7 through options data. The pitch comes as MSTR is recovering from recent lows, but the bigger question is whether that rebound can last if Bitcoin remains under pressure.
Options Are Driving the Story
Saylor posted a chart on July 2 describing Strategy as the “MoST inteResting” stock, a play on the MSTR ticker. The comparison is not about share price performance. Instead, it focuses on derivatives positioning: in his chart, open interest in MSTR options equals 71.9 percent of the company’s market cap, well above the levels seen in the Mag 7 names.
Tesla was the closest in the comparison at 15.8 percent, with Meta next at 10.8 percent. The rest of the group came in lower. Even so, this is only a snapshot from Strategy’s own presentation, so those figures can change quickly.
Bitcoin Remains the Core
MSTR’s close link to Bitcoin is nothing new. Strategy has effectively turned its public listing into a leveraged bet on the crypto asset. According to S&P Global, the stock carries a beta of 3.54, which shows how sharply it tends to react when BTC moves. That lines up with the broader market view of Strategy as a public-market proxy for Bitcoin exposure.
The latest filing shows the company holds 847,363 Bitcoin, equal to more than 4 percent of the circulating supply. Strategy spent a total of $64.1 billion (€56.2 billion) on those coins, at an average price of $75,646 (€66,400) per coin. With Bitcoin trading around $61,760 (€54,200), that stack is now worth about $54 billion (€47.4 billion). The company was also added to the Nasdaq-100 in 2024, underscoring how large and visible its Bitcoin strategy has become.
New Capital Strategy Under Pressure
MSTR got a lift in early July from the company’s new capital approach. On Monday, the stock jumped 12.5 percent after Strategy announced a revised capital policy, then dropped 6.2 percent on Tuesday to $86.93 (€76) after TD Cowen cut its price target from $400 (€351) to $260 (€228). By Thursday, it had climbed more than 7 percent again, pushing the stock back above $100 (€88).
The new framework sets aside $2.55 billion (€2.2 billion) in cash, enough to cover 17.4 months of preferred dividends and interest. It also gives Strategy room for up to $1.25 billion (€1.1 billion) in Bitcoin sales and $2 billion (€1.8 billion) in buybacks. CEO Phong Le said the change marks a move away from a one-way capital issuance model and toward active capital management. At the same time, Citi, TD Cowen, and BTIG lowered their price targets, while Rosen Law Firm opened a securities probe.
That shift toward more flexibility has also drawn criticism, since the company’s new policy could add another layer of volatility by allowing it to sell Bitcoin selectively to meet obligations. For European crypto watchers, the stakes are clear: Strategy remains one of the cleanest public-market gauges of Bitcoin sentiment. If BTC stays above $60,000 (€52,600), that could help support confidence in the new policy, but the Q2 earnings report on July 30 will be the first real test of whether it works.
