BSTR founder criticizes bitcoin treasury firms' capital structures

BSTR co-founder Sean Bill said many bitcoin treasury companies lack proper capital structures and rely too heavily on bitcoin for messaging.

BSTR co-founder Sean Bill made the comments during an interview with Cointelegraph. He noted that numerous companies in the bitcoin treasury space still do not have the right capital structure in place. Bill added that these firms are relying on bitcoin to do all the talking for them. The BSTR founder also referred to a fair share of carnival barkers operating in the sector.

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A photorealistic financial news illustration depicting stock charts nearing a $28 billion cap alongside Bitcoin purchases.
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Strategy nears STRC cap while sustaining bitcoin purchases

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Strategy is approaching the $28 billion issuance limit on its STRC preferred stock, yet the company continues to convert investor demand into spot bitcoin buys through a monthly funding cycle. Recent data shows purchases slowed after April's peak but remain active ahead of this week's ex-dividend deadline.

Michael Saylor, co-founder of Strategy, signaled that the company will buy more Bitcoin on Monday. The purchase would boost the firm's Bitcoin treasury holdings. Strategy is the world's biggest Bitcoin treasury company.

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Michael Saylor, chairman of Strategy, posted on X to indicate that the Bitcoin treasury firm plans to purchase BTC this week. He also called on retail holders to participate in the STRC proxy vote.

MicroStrategy, the largest public holder of Bitcoin, will pause cryptocurrency purchases this week. Executive Chairman Michael Saylor announced the break on Sunday via X, as the company prepares for its first-quarter earnings report on Tuesday. Wall Street anticipates a quarterly loss.

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The Morgan Stanley Bitcoin Trust completed its first month of trading on May 8 without any net outflows, drawing $193 million in inflows since its April 8 launch.

Bitcoin has ended its longest period of underperformance against the S&P 500 and is positioned to beat traditional assets amid persistent inflation pressures.

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