Michael Saylor said BPS measures the amount of Bitcoin attributable to each common share before accounting for senior claims, while CEBE BPS measures the Bitcoin attributable to each common share after senior claims are considered. According to Odaily, Saylor posted the explanation on X.
He described CEBE as a conservative risk indicator and said BPS is an indicator of common equity growth. He added that BTC yield measures the execution of BPS.
Michael Saylor Explains BPS and CEBE Metrics for Bitcoin Per Common Share
2026-06-14 09:03:54
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