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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 次观看 • 2 天前 •via X (Twitter)

37 条评论

Strategy 的头像
Strategy2 天前

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.

Strategy 的头像
Strategy2 天前

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

Strategy 的头像
Strategy2 天前

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.

Strategy 的头像
Strategy2 天前

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:

Zaid 🟧 的头像
Zaid 🟧2 天前

Always improving! 🍊

Ted Trading Club 的头像
Ted Trading Club2 天前

Credit pricing meets Bitcoin.

EndCentralBanks 的头像
EndCentralBanks2 天前

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

Đỗ Khoa | Solomon Do 的头像
Đỗ Khoa | Solomon Do2 天前

This calculator looks useful for comparing Strategy preferreds prices.

slaaaaaay 🦄💨✨ 的头像
slaaaaaay 🦄💨✨2 天前

more useless shit instead of buying back the common

𝑹𝒂𝒃𝒔 的头像
𝑹𝒂𝒃𝒔2 天前

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. 🔍

wadood 的头像
wadood2 天前

wonderful

Mocha 的头像
Mocha2 天前

Woot! 🤓

Bruce 的头像
Bruce2 天前

@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.

MLB TTK 的头像
MLB TTK2 天前

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.

Cody Ross 的头像
Cody Ross2 天前

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.

Janice 🟧 的头像
Janice 🟧2 天前

I like the presentation vdo nice!

SHATOSHI 的头像
SHATOSHI2 天前

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.

Michael Lerro 的头像
Michael Lerro2 天前

Does it include @strategystock ?

Jacob Crypto Bury 的头像
Jacob Crypto Bury2 天前

That’s a pretty unique framework. 😮

CODY 的头像
CODY2 天前

Great addition! Definitely checking this out."

Gerald Bouley 的头像
Gerald Bouley2 天前

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

Bitcoin Income Investor 的头像
Bitcoin Income Investor2 天前

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

vøv △ 的头像
vøv △2 天前

@saylor preferreds trading below derived value, $BTC upside

Hershal Rao 的头像
Hershal Rao2 天前

finally a calculator to justify my spreadsheet addiction

𝐕𝐑 的头像
𝐕𝐑2 天前

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

Nupezes 的头像
Nupezes2 天前

Very impressive 👏

Jacob's Ladder 🔮🟧 的头像
Jacob's Ladder 🔮🟧2 天前

Michael Paylor and Pump Le

Jeff Dominic 的头像
Jeff Dominic2 天前

@saylor I Been in for a while .

Whiskerbank 的头像
Whiskerbank2 天前

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

s***at 的头像
s***at2 天前

Dont believe

Dee 的头像
Dee1 天前

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

Cryptocards.one 的头像
Cryptocards.one2 天前

Interesting way to connect BTC credit risk with preferred pricing.

Kaidloscopes 的头像
Kaidloscopes2 天前

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

Ash.Doji 的头像
Ash.Doji2 天前

@saylor Cvv

CoinGpt | 智能量化交易 的头像
CoinGpt | 智能量化交易2 天前

@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.

Fringe₿ 🔸 的头像
Fringe₿ 🔸2 天前

@saylor Yeas 🙏

MLB TTK 的头像
MLB TTK2 天前

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.

相关视频

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 次观看 • 2 个月前