Analysts support Strategy's increased cash holdings; Saylor says the company will no longer allocate "100% to Bitcoin" in the future

Odaily News Agency: In the company's Q2 earnings call, Strategy's Executive Chairman Michael Saylor stated that while the company has previously allocated nearly "100% of its funds to Bitcoin," it may adopt a combination strategy of cash and BTC moving forward. He said, "Perhaps the best way to buy the most Bitcoin is not to immediately buy the most Bitcoin."

TD Cowen and Benchmark both maintained their Buy ratings on the stock following Strategy's Q2 earnings call. The two firms believe that the company's current management's core goal has shifted toward bringing its STRC preferred stock price back to near par value, thereby restoring its ability to function as a financing tool.

TD Cowen analyst Lance Vitanza noted that the most important takeaway from the call was management's strong emphasis on STRC. Company executives repeatedly stressed that bringing STRC back to par value is the core goal, and mentioned that despite recent price deviations for the security, institutional adoption is still increasing.

Benchmark analyst Mark Palmer held a similar view. He pointed out that Saylor and his team spent most of the 90-minute call focused on the same objective: restoring STRC to the $99–$100 range, making it once again the primary engine for the company's fundraising to purchase Bitcoin.