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Introducing the Strategy Credit Pricing Calculator. Compare current market prices for Strategy's preferreds with illustrative Derived Prices based on BTC Credit from our Credit Risk Calculator.

236,364 Aufrufe • vor 2 Tagen •via X (Twitter)

37 Kommentare

Profilbild von Strategy
Strategyvor 2 Tagen

First, the Credit Risk Calculator takes your BTC Price, BTC Volatility, and BTC ARR assumptions and produces BTC Credit: an annualized credit spread for each security based on its modeled BTC Risk.

Profilbild von Strategy
Strategyvor 2 Tagen

Next, the pricing calculator takes each preferred’s current Effective Yield and calculates its Market Spread above the applicable risk-free rate.

Profilbild von Strategy
Strategyvor 2 Tagen

The pricing calculator then uses BTC Credit in place of Market Spread to calculate an illustrative Derived Price. Price vs. Derived shows how the current market price compares with that derived result.

Profilbild von Strategy
Strategyvor 2 Tagen

Finally, Implied BTC ARR is the BTC ARR that would make BTC Credit equal the current Market Spread. Explore the Strategy Credit Pricing Calculator and test your own assumptions:

Profilbild von Zaid 🟧
Zaid 🟧vor 2 Tagen

Always improving! 🍊

Profilbild von Ted Trading Club
Ted Trading Clubvor 2 Tagen

Credit pricing meets Bitcoin.

Profilbild von EndCentralBanks
EndCentralBanksvor 2 Tagen

Maybe the credit pricing calculator will help you figure out the STRC dividend is too low.

Profilbild von Đỗ Khoa | Solomon Do
Đỗ Khoa | Solomon Dovor 2 Tagen

This calculator looks useful for comparing Strategy preferreds prices.

Profilbild von slaaaaaay 🦄💨✨
slaaaaaay 🦄💨✨vor 2 Tagen

more useless shit instead of buying back the common

Profilbild von 𝑹𝒂𝒃𝒔
𝑹𝒂𝒃𝒔vor 2 Tagen

This is a pretty interesting way to look at preferred pricing 👀📊 Connecting market prices with BTC credit risk gives investors another angle for understanding the numbers. 🔍

Profilbild von wadood
wadoodvor 2 Tagen

wonderful

Profilbild von Mocha
Mochavor 2 Tagen

Woot! 🤓

Profilbild von Bruce
Brucevor 2 Tagen

@saylor New Strategy calculator: market prices on the preferreds vs BTC-Credit Derived Prices. Tape still prices high-yield risk; the model says the collateral is tighter. Illustrative only.

Profilbild von MLB TTK
MLB TTKvor 2 Tagen

a calculator that prices strc and the other prefs straight off btc vol and btc price is strategy basically handing the credit desks their homework. if the derived price keeps sitting above where the prefs actually trade, that gap is the trade and somebody is going to lean on it. the whole thing still lives or dies on btc holding up while long bond yields are this ugly though. smart move to make the credit math public instead of letting fud write it for them.

Profilbild von Cody Ross
Cody Rossvor 2 Tagen

This calculator is really just plugging some variables into a normal distribution (bell curve), which makes the preferred stocks look like a good deal due to them having higher yields and being backed by $MSTR’s balance sheet. It sounds smart but accomplishes nothing.

Profilbild von Janice 🟧
Janice 🟧vor 2 Tagen

I like the presentation vdo nice!

Profilbild von SHATOSHI
SHATOSHIvor 2 Tagen

A pricing calculator for preferreds backed by BTC credit. The asset Wall Street spent a decade calling a bubble now has its own credit spreadsheet. Quietly one of the most bullish charts of 2026.

Profilbild von Michael Lerro
Michael Lerrovor 2 Tagen

Does it include @strategystock ?

Profilbild von Jacob Crypto Bury
Jacob Crypto Buryvor 2 Tagen

That’s a pretty unique framework. 😮

Profilbild von CODY
CODYvor 2 Tagen

Great addition! Definitely checking this out."

Profilbild von Gerald Bouley
Gerald Bouleyvor 2 Tagen

Just give me a dilution calculator I need to know when to exit to buy more btc for myself

Profilbild von Bitcoin Income Investor
Bitcoin Income Investorvor 2 Tagen

No one knows what it means, but it’s proactive

Profilbild von vøv △
vøv △vor 2 Tagen

@saylor preferreds trading below derived value, $BTC upside

Profilbild von Hershal Rao
Hershal Raovor 2 Tagen

finally a calculator to justify my spreadsheet addiction

Profilbild von 𝐕𝐑
𝐕𝐑vor 2 Tagen

@saylor does this calculator show if the market is pricing strategy’s preferreds cheaper or richer than your btc credit model? @grok

Profilbild von Nupezes
Nupezesvor 2 Tagen

Very impressive 👏

Profilbild von Jacob's Ladder 🔮🟧
Jacob's Ladder 🔮🟧vor 2 Tagen

Michael Paylor and Pump Le

Profilbild von Jeff Dominic
Jeff Dominicvor 2 Tagen

@saylor I Been in for a while .

Profilbild von Whiskerbank
Whiskerbankvor 2 Tagen

useful only if the inputs survive a BTC drawdown. what BTC volatility and liquidity assumptions sit under the derived price?

Profilbild von s***at
s***atvor 2 Tagen

Dont believe

Profilbild von Dee
Deevor 1 Tag

This looks super useful for traders. Have you seen how Derived Prices shift during high volatility?

Profilbild von Cryptocards.one
Cryptocards.onevor 2 Tagen

Interesting way to connect BTC credit risk with preferred pricing.

Profilbild von Kaidloscopes
Kaidloscopesvor 2 Tagen

Bringing preferred-stock pricing and Bitcoin-backed credit risk into one view could improve transparency for investors. 🔍

Profilbild von Ash.Doji
Ash.Dojivor 2 Tagen

@saylor Cvv

Profilbild von CoinGpt | 智能量化交易
CoinGpt | 智能量化交易vor 2 Tagen

@saylor Credit spread on the preferreds is really a liquidity and basis signal — worth mapping implied vol against the common's order book depth before sizing any arb.

Profilbild von Fringe₿ 🔸
Fringe₿ 🔸vor 2 Tagen

@saylor Yeas 🙏

Profilbild von MLB TTK
MLB TTKvor 2 Tagen

this is a useful way to make preferred pricing less vibes driven. turning btc volatility and arr into a credit spread gives the market a common language for the risk sitting under each security. i’m watching where the derived prices keep disagreeing with the tape, because that gap is the part worth testing. calculators are boring until they catch a misprice.

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Strategy sold 3,588 BTC last week. That's 112x more than the 32 BTC they sold a few weeks ago (which freaked out the market). Here's what's happening and why they are doing this... 1. Last week = Strategy sold Last week, Strategy sold 3,588 BTC and used all of the proceeds ($216m) to fund dividend payments on their suite of preferred equities. Q2 dividend payments for STRF, STRK, STRD, and STRE... and June dividends for STRC. Notably, BTC price opened last week at $59.5k. Strategy sold 3,588 BTC over the course of the week, yet BTC price went up to $63.5k. 2. The bigger picture = Strategy is NET buying Strategy bought 85,296 BTC in Q2. Their combined selling for Q2 was 3,620 BTC (32 + 3,588). In other words, they bought 22.5x more BTC in Q2 than they sold. (For 2026 YTD numbers, Strategy has bought ~175k BTC and sold 3.6k BTC. That's a 48x ratio.) 3. The message in advance Weeks ago, Saylor explained what they are doing, in an interview with Michaël van de Poppe (see clip) "On occasion, we'll buy 20 Bitcoin & we'll sell 1 Bitcoin... Then the credit investors will give us enough to buy 20 more Bitcoin." Saylor further explained the strategic rationale of selling Bitcoin... "Our credit investors expect that we're going to support the credit dividend and pay it (and our asset is BTC)... 'will you sell some Bitcoin to pay us the money?' They expect me to say yes, because if I'm not going to pay the dividend, they're not going to buy the credit & the credit agency won't rate the credit." 4. What Strategy is doing Strategy is showing the market that they can and will sell BTC. They are doing this to gain access to more credit market capital... so that they can buy much more BTC. Saylor has recently asserted that it's important to "buy more Bitcoin than you sell." This is that in action. In Q2, they bought 85k BTC. They then used 3.5k BTC to fund the dividends on the Digital Credit that enabled them to buy 85k BTC. They bought 22.5 and sold 1. 5. What to expect next Saylor said they will "inoculate the market" by selling a little BTC. This is the second dose of inoculation. They will keep doing it until the market expects it and no longer reacts to it. They are not dumping their BTC treasury strategy for dollars. That is the click-bait headline for the uninformed. What they are telling you is that they plan to sell 1 BTC so they can buy 20 BTC. Over and over.

Jesse Myers

170,931 Aufrufe • vor 2 Monaten