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

261,548 次观看 • 1 年前 •via X (Twitter)

11 条评论

Ray 的头像
Ray1 年前

@JoshMandell6 thoughts?

Quant Data 的头像
Quant Data2 年前

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gefjon_nasira 的头像
gefjon_nasira1 年前

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 €?

Ragnar 的头像
Ragnar1 年前

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

TAH32 的头像
TAH321 年前

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.

robert 的头像
robert1 年前

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.

Ro₿ 的头像
Ro₿1 年前

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

EB 的头像
EB1 年前

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).

Don 的头像
Don1 年前

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.

Just call me Clem! 的头像
Just call me Clem!1 年前

MSTR is a machine! And, so is Mike.

My Favorite Thing About Bitcoin 的头像
My Favorite Thing About Bitcoin1 年前

This guy seems to know a lot about this stuff tbh

相关视频

🚀WHAT PRICE WILL MSTR BE AT $1 MILLION BITCOIN?🚀 I handicapped the absolute hell out of this model. Bitcoin rises from $65,993 to $1,000,000 over 8 full years. The entire STR preferred stack remains at a 12% dividend rate for all 96 months. The rate never declines. MSTR common stock is issued to fund every dollar of dividends, so shareholders absorb the dilution. No additional debt is added. No MSTR is sold at a premium to acquire Bitcoin... EVER. mNAV is only permitted to rise modestly as STRC scales. Strategy has already raised approximately $16.4 billion in 2026 through July 19, a roughly $29.9 billion annualized pace. Yet these scenarios allow only $0 to $6 billion of annual STRC issuance: $0/month - no STRC ever issued | 1.023× mNAV | $2,100 MSTR | 21.08× return | 1.39× Bitcoin’s multiple (+39%) $100M/month | $1.2B/year, 4% of current pace | 1.10× mNAV | $2,292 MSTR | 23.01× | 1.52× Bitcoin (+52%) $200M/month | $2.4B/year, 8% of pace | 1.20× mNAV | $2,540 MSTR | 25.50× | 1.68× Bitcoin (+68%) $300M/month | $3.6B/year, 12% of pace | 1.30× mNAV | $2,796 MSTR | 28.07× | 1.85× Bitcoin (+85%) $400M/month | $4.8B/year, 16% of pace | 1.40× mNAV | $3,060 MSTR | 30.73× | 2.03× Bitcoin (+103%) $500M/month | $6B/year, 20% of pace | 1.50× mNAV | $3,333 MSTR | 33.47× | 2.21× Bitcoin (+121%) Bitcoin itself returns 15.15×. The most important result is the first one. With zero new STRC issuance and absolutely zero mNAV expansion, MSTR still reaches approximately $2,100 and outperforms Bitcoin. Stock Multiple = BTC Multiple × CEBE Sats/Share Multiple × CEBE mNAV Multiple 15.15× BTC appreciation × 1.39× CEBE sats/share accretion × 1.00× mNAV change = 21.08× MSTR. The amplification is already embedded in the balance sheet. The market does not need to award MSTR a higher valuation multiple for it to work. Even in the $500M monthly STRC scenario, Strategy finishes with only 987,098 Bitcoin. Yes, the $3,333 model example includes a scenario where they fail to reach 1 million BTC in the next 8 years. If Bitcoin goes up... the machine works:

Adam Livingston

45,843 次观看 • 11 天前