Michael Saylor says he used ChatGPT to help design the preferred stock structure that let Strategy raise about $15 billion for its Bitcoin balance sheet. The disclosure comes days after an SEC filing showed the company adjusted its Bitcoin holdings and added a new employee benefit tied to its Bitcoin strategy.
Michael Saylor says he used ChatGPT to help build the preferred stock financing structure that let Strategy raise about $15 billion for its Bitcoin-focused balance sheet. The Strategy Executive Chairman described the process in an interview with The Diary of a CEO, covered in an Aug. 6 Fortune report.
ChatGPT helped shape the financing model
Saylor said the AI chatbot helped him work through financing structures that Strategy later used to raise billions of dollars from investors. According to Fortune: "AI helped me create $15 billion," Saylor said.
The figure reflects capital raised through Strategy's preferred stock products rather than revenue generated directly by ChatGPT — investors, underwriters and company executives carried out the offerings. Strategy has built a family of Bitcoin-backed preferred securities, including STRC, STRK, STRF and STRD, giving investors different mixes of dividend payouts, volatility and exposure to the company's Bitcoin-heavy balance sheet.
Strategy adjusts its Bitcoin holdings
An Aug. 3 SEC filing showed that Strategy sold 1,638 BTC for about $104.73 million between July 27 and Aug. 2. The company used $52.4 million to fund preferred stock dividends and $52.3 million to repurchase STRC shares.
The sale reduced Strategy's holdings to 842,138 BTC as of Aug. 2. Its aggregate purchase cost stood at $63.51 billion, an average of $75,419 per Bitcoin.
On Aug. 5, Lookonchain identified another transfer of 1,030 BTC, worth roughly $66.14 million, from wallets it associated with Strategy. Strategy had not confirmed the transfer represented another sale, and no later SEC filing had reduced its reported holdings when the report was prepared.
Strategy adds a benefit tied to its Bitcoin strategy
Strategy also joined the Invest America Business Pledge on Aug. 5, committing $250 a year to Trump Accounts for eligible children of its U.S. employees. Children born on or after Jan. 1, 2025 will also receive a one-time $1,000 company contribution matching the government's initial deposit.
Source: crypto.news
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