Strategy Inc (STRF) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello, everyone, and good evening. I'm CJ, head of investor relations at Strategy. I'm excited to moderate Strategy's second quarter, 2026, earnings webinar for you. We will start the call with a 60-minute presentation, starting with Andrew Kang, followed by Fong Lee, and then Michael Saylor. This will be followed by a 30-minute interactive Q&A session with four Wall Street equity analysts and four Bitcoin analysts. Before we proceed, I will read the safe harbor statement. Some of the information we provide in this presentation regarding our future expectations, plans, and prospects may constitute forward-looking statements. Actual results may differ materially from these forward-looking statements. due to various important factors, including fluctuations in the price of Bitcoin and the risk factors discussed under the caption Risk Factors in Strategy's quarterly report on Form 10Q filed with the SEC on May 6th, 2026, and the risks described in other filings that Strategy may make with the SEC. We assume no obligation to update these forward-looking statements which speak only as of today. With that, I will turn the call over to Andrew Kang, CFO of Strategy. Thank you, CJ, and thank you all for joining our call today. Moving on to the first slide, we now hold 843,775,000 Bitcoin, representing approximately 4% of all Bitcoin that will ever exist. Bitcoin per share is currently 203,683 sats, which remains one of the cleanest measures of how we create long-term value for shareholders. Our market cap is approximately $38 billion, and year to date, we have raised $17 billion of capital across common equity and digital credit. That capital gives us the strength to continue building our overall Bitcoin holdings, manage our capital structure, meet our dividend and interest o...