Michael Saylor Says It’s ‘Probably Nothing’ After MSTR’s Bitcoin-Backed Loans Hit Record Volume

Strategy (MSTR) Executive Chairman Michael Saylor on Monday said it’s "probably nothing", sharing a chart that showed Bitcoin (BTC)-backed loans through its specialized digital structured products hit an all-time high last week.

According to the chart, for the week ending November 21, weekly volume across Strategy’s suite of offerings, which includes STRFC, STRF, TRF, and TRD, hit a new all-time high of $18.9 million. MSTR’s stock gained edged 0.7% higher at market open. On Stocktwits, retail sentiment around the stock surged to ‘extremely bullish’ from ‘bullish’ over the past day, amid ‘high’ levels of chatter.

This surge comes amid a broader boom in crypto-collateralized lending. According to a November report by Galaxy Digital, crypto-backed loans expanded by $20.46 billion in the third quarter (Q3) 2025 to a record $73.59 billion in outstanding balances, surpassing previous bull-cycle peaks. This marked an increase of 38.5% year-on-year.

Get updates to this developing story directly on Stocktwits.

Read also: Bitcoin Holds $86,000 With Crypto Market Back Above $3 Trillion – XRP, Doge Gain Ahead Of Grayscale’s New ETF Launches

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