MicroStrategy CEO Saylor Rules Out Bitcoin Reserve M&A
MicroStrategy CEO Michael Saylor ruled out mergers and acquisitions of rival Bitcoin treasury firms during the Q3 2025 earnings call, citing operational uncertainties and due diligence delays of six to twelve months that can erode deal value. Instead, MicroStrategy remains focused on organic growth—issuing digital bonds, strengthening its balance sheet, and accumulating Bitcoin—continuing to hold 640,808 BTC, the largest among public companies. CFO Phong Le added that software-led acquisitions often carry unknown liabilities, reinforcing the company’s preference for internal expansion.
S&P Global Ratings recently assigned MicroStrategy a B- credit rating with a stable outlook, deducting points for its Bitcoin holdings. Saylor suggested that reclassifying BTC as a capital asset could improve future credit profiles. Experts say this disciplined approach supports MicroStrategy’s long-term position in the Bitcoin market while avoiding additional volatility.
Neutral
MicroStrategy’s confirmation that it will not pursue Bitcoin reserve acquisitions removes a speculative driver but maintains steady demand through organic BTC accumulation, suggesting minimal immediate price reaction. Over the long term, the company’s commitment to issuing digital bonds, strengthening its balance sheet, and classifying BTC as a capital asset underpins sustained buying pressure without introducing M&A-related volatility. Traders can expect a neutral impact on Bitcoin prices, given the balanced interplay between continued demand and the absence of large-scale acquisitions.