Strategy has released a team-written Bitcoin Investor Guide, according to BlockBeats on Sept. 13.
The document is dated Sept. 7, 2026, and uses market data through Sept. 4. It is aimed at professional investors, private investors, bankers, advisers, and capital allocators, and sets out Bitcoin’s monetary characteristics, investment thesis, market structure, role in portfolios, custody methods, and risks.
Bitcoin presented as “digital capital”
The guide’s central view is that Bitcoin is no longer just a speculative asset and is becoming the foundation of a new digital capital market — a scarce, open, global reserve asset.
It says the long-term case rests on scarcity, open access, global liquidity, and independent verification. The document also says Bitcoin could absorb part of the monetary premium now attached to gold, real estate, stocks, bonds, and art.
The guide places Bitcoin in the category of “digital capital.” It says the asset has a fixed maximum supply of 21 million coins, no issuer, no maturity date, and no contractual cash flow, with value driven mainly by scarcity and the monetary premium assigned by the market. It also says Bitcoin can be held directly, transferred globally, and verified independently.
Market snapshot as of Sept. 4, 2026
The guide lists several market metrics for Bitcoin as of Sept. 4, 2026:
- Bitcoin price of about $79,809;
- 200-week moving average of about $64,715, implying a premium of about 23.3%;
- 1-year return of about -28.3%;
- 10-year annualized return of about 62.8%;
- 30-day average trading volume of about $28.3 billion;
- Open interest of about $96 billion;
- Spot ETF holdings of about 1.27 million BTC;
- Network hash rate of about 935 EH/s.
Institutional access and market infrastructure
The guide says institutional access improved markedly after the U.S. Securities and Exchange Commission approved spot Bitcoin ETPs in January 2024. It also says futures, options, and custody infrastructure have continued to mature.
Risks highlighted in the document
In its risk section, the guide says Bitcoin is highly volatile, carries no repayment promise, and can see sharp price declines.
It adds that self-custody, third-party custody, ETPs, corporate securities, and derivatives each carry different legal, operational, and counterparty risks. Transactions are irreversible, and lost keys can result in permanent loss.
Conflict disclosure and usage statement
The document also states that Strategy, as a publicly listed company holding a large amount of Bitcoin, has interests tied to Bitcoin’s price.
It says the guide is for educational purposes only and does not constitute investment advice.