{"id":51976,"date":"2025-10-09T14:32:16","date_gmt":"2025-10-09T14:32:16","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=51976"},"modified":"2025-10-09T14:32:16","modified_gmt":"2025-10-09T14:32:16","slug":"michael-saylors-strategy-the-architect-of-new-bitcoin-backed-fixed-income-market-benchmark","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=51976","title":{"rendered":"Michael Saylor&#8217;s Strategy the Architect of New Bitcoin-Backed Fixed Income Market: Benchmark"},"content":{"rendered":"<div>\n<p>Wall Street broker Benchmark remains bullish on Strategy (MSTR) despite the stock&#8217;s recent struggles, arguing that its bitcoin-linked perpetual preferred shares give it something no other digital asset treasury can match: permanent capital. <\/p>\n<p>The broker reaffirmed its Strategy buy rating and $705 price target in the Thursday report. The stock was 2% lower in early trading, around $324.<\/p>\n<p>In an investor meeting hosted by Benchmark this week, Executive Chairman Michael Saylor outlined how these instruments strengthen the company\u2019s strategy.<\/p>\n<p>While other firms race to replicate Strategy\u2019s playbook, the company\u2019s 640,031 BTC treasury, more than twelve times the next-largest corporate holder, remains unrivaled, analyst Mark Palmer said.<\/p>\n<p>Its real edge, Palmer said, is in the structure of its perpetual preferred shares. These remove refinancing risk tied to bitcoin\u2019s price swings, giving the company a stable capital base without diluting common equity.<\/p>\n<p>Saylor framed the strategy as turning bitcoin into the foundation for a new fixed income market, much as mortgage-backed securities transformed real estate, the report noted. Investors are buying in: the STRC offering in July raised $2.52 billion, the largest U.S. IPO this year.<\/p>\n<p>Benchmark sees bitcoin-linked fixed income evolving into a multi-hundred-billion-dollar market, with Strategy as its architect. <\/p>\n<p>The broker&#8217;s price target reflects projected bitcoin value, a 10x multiple on expected gains, and the company\u2019s software business outlook through 2026.<\/p>\n<p><strong><em>Read more: <a href=\"https:\/\/www.coindesk.com\/markets\/2025\/10\/06\/strategy-q3-bitcoin-gains-were-usd3-9b-no-weekly-buys-for-first-time-since-april\"><span style=\"text-decoration:underline\">Strategy Q3 Bitcoin Gains Were $3.9B; No Weekly Buys for First Time Since April<\/span><\/a><\/em><\/strong><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Wall Street broker Benchmark remains bullish on Strategy (MSTR) despite the stock&#8217;s recent struggles, arguing that its bitcoin-linked perpetual preferred shares give it something no other digital asset treasury can match: permanent capital. The broker reaffirmed its Strategy buy rating and $705 price target in the Thursday report. The stock was 2% lower in early [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-51976","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/51976","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=51976"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/51976\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=51976"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=51976"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=51976"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}