According to CoinDesk, Michael Saylor and Bitcoin supporter Matthew Kratter have sparked a debate over whether the latest round of Bitcoin holdings by Strategy (MSTR) dilutes shareholder value. The core of this debate lies in Strategy's proprietary Bitcoin metric, BTC Yield. Data shows that after Strategy's latest disclosure of an increase in holdings of 1550 bitcoins, the company's bitcoin yield decreased from 13.0% on June 1 to 12.8% on June 8. Although the company's bitcoin holdings increased from 843706 to 845256, the diluted number of circulating shares increased from 382756 million to 3841.8 million. Matthew Kratter believes that this change means that this financing has a dilution effect at the level of "per share Bitcoin content". Michael Saylor responded by stating that the Bitcoin yield is only a single indicator of "Bitcoin per share" and cannot reflect changes in overall shareholder value. While increasing holdings of Bitcoin, Strategy also added about $100 million in cash reserves, raising the company's US dollar reserves to about $1 billion. From a more complete balance sheet perspective, it still belongs to an appreciation transaction. https://(wublock123.com)/news/strategy-shareholder-value-dilution-michael-saylor-market-dispute-62559