Bitcoin: Michael Saylor rules out strategy mergers – for now

INFBusiness
01.11.2025
Markets

Strategy founder Michael Saylor currently has no plans to acquire other Bitcoin treasury companies. Mergers and acquisitions are fraught with too much uncertainty, Saylor said on Thursday during the quarterly earnings call. “We currently have no intention of pursuing M&A activity, even if it appears potentially value-enhancing,” he explained. Such processes often take six to twelve months, and “an idea that looks good at the beginning might not be a good idea after six months.”
According to some analysts, Bitcoin treasury companies could merge more frequently in the future, as the number of market participants grows and competition intensifies. A first step in this direction occurred at the end of September: Strive announced the acquisition of its competitor Semler Scientific in an all-stock deal. The merged company will hold 11,006 Bitcoins, making it the twelfth-largest publicly traded Bitcoin holder worldwide – just behind Tesla. Strategy remains the undisputed leader with 640,808 BTC, valued at $70 billion.
Michael Saylor didn't completely rule out potential acquisitions in the future: “We would never say never. However, our focus is on selling digital loans, strengthening our balance sheet, buying Bitcoin, and clearly communicating this to credit and equity investors.” Strategy CEO Phong Le also explained that mergers in the software sector are “extremely complex.” “Often there's more to what you think you're buying than meets the eye,” he said. “This also applies to acquiring Bitcoin treasury companies.”

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