Strategy Steps Back from Takeovers, Focuses on Bitcoin

Michael Saylor's Strategy Steps Back from Takeovers, Focuses on Bitcoin

Written by Aaron S.,

Editor-In-Chief

Last Updated: October 31, 2025

Key Takeaways

Strategy is not actively pursuing Bitcoin-related acquisitions due to long deal timelines and the risk of changing market conditions;
Michael Saylor emphasized a focus on selling digital credit, boosting the balance sheet, and increasing Bitcoin holdings instead of M&A;
CEO Phong Le warned that buying companies, software, or Bitcoin is complex and often reveals hidden issues after the deal is done.

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Michael Saylor, the chairman of Strategy, explained that the company is not looking to buy other firms that hold Bitcoin BTC $109,902.85 on their balance sheets.

He cited uncertainty and lengthy deal processes as the main reasons for holding back on acquisitions.

Speaking during Strategy’s Q3 earnings call, Saylor noted that potential mergers or acquisitions often take several months to complete. During that time, market conditions can shift, which makes a deal less appealing than it initially seemed.

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He said it is not unusual for a good opportunity to lose its value as circumstances evolve.

Although Strategy is not actively pursuing such deals, Saylor did not completely close the door. He said the company is not ruling out future acquisitions entirely but is focusing on a different approach for now.

That includes selling digital credit, strengthening the balance sheet, and continuing to build its Bitcoin reserves. He emphasized the importance of sharing that plan clearly with both lenders and shareholders.

CEO Phong Le added that acquiring companies, whether in software or Bitcoin, is rarely simple. He pointed out that buyers often uncover unexpected problems after the fact.

According to Le, this risk applies just as much to Bitcoin treasury firms as it does to software businesses.

The value of Bitcoin held by Strategy recently reached a new high. How much was it? Read the full story.