Saylor on what he will do if $MSTR mNAV falls below 1. Few truly grasp this. Bookmark it and watch it multiple times.

@JoshMandell6 thoughts?

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Incredible. $MSTR is being built into a company that can stack sats in the bull as well as the bear. Love it! Ragnar - what do you think about his comment if offering a preferred product for people who want a Euro yield? Will they launch STRK/STRF equivalents denominated in €?

Yes, sounds like they want to launch fixed income instruments in EUR and JPY.

I was there in that room and watched this. It was truly inspiring. After Listening to him, we came to the conclusion that he has a plan for every possible scenario that could happen and makes you have so much confidence in this company.

mNav getting anywhere close to 1 means cash required on the convertible bonds as they come due. They do not have the funds or cash flow to redeem without selling BTC. His explanation should get him in trouble with the SEC.

@Micro2Macr0 This level of clarity and thinking is reassuring. Strategy is a financial siphon.

Fanciful. If MSTR is trading sub 1x mNAV, the solution to sell pref equity to buy back common shares and boost share price hinges on (A) there being a pref equity market for his products in size sufficient for buybacks to move the common share price, where currently there is not, and (B) pref equity investors taking an opposing view to common shareholders that mNAV will rise above 1x (it's not all about collateral; the only non-death spiral means of Saylor paying their 10% coupon is by raising funds through an equity ATM that in this situation would be nonviable).

The yield on the preferred shares comes from selling MSTR shares ( assuming he won't sell BTC). If the mnav is 1 or below, no one will buy the preferred shares, because you know they have no ability to repay the yield.

MSTR is a machine! And, so is Mike.

This guy seems to know a lot about this stuff tbh