Saylor says Strategy unlikely to scoop up rivals, ‘just a lot of uncertainty’

Strategy Chairman Michael Saylor informed investors during the third-quarter earnings call that the company does not plan to pursue mergers and acquisitions (M&A) of other Bitcoin treasury companies, even if potentially accretive. Saylor cited the significant uncertainty involved, noting that deals can stretch out for six to nine months or a year, potentially changing the viability of the initial idea. While he did not entirely rule out future acquisitions, he emphasized that Strategy's core focus remains selling digital credit, improving the balance sheet, and buying Bitcoin. CEO Phong Le added that M&A for software companies, Strategy's main business, is very difficult due to hidden issues, a sentiment he extended to acquiring Bitcoin treasury firms. Saylor argued that Strategy's transparent and predictable business model, centered on its large Bitcoin holdings (640,808 BTC), makes it easy for investors to assess its value, contrasting with the complexity of M&A. Recently, S&P Global Ratings gave Strategy a "B-" credit rating, which Le noted did not account for its Bitcoin holdings.

(Source：Cointelegraph)