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Virtual stream with threadguy today considering "the full implications of Michael Saylor being right" I break down $STRC & $SATA from a basic level. - How'd we get here - How does this work - How to think about these instruments - How much capital can buy these? Tune...

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Jeff Walton

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44,123 просмотров • 7 месяцев назад •via X (Twitter)

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🎙️ New The Edge Podcast 🟠 Michael Saylor's BTC-Backed STRC Is Coming For A $300T Market 0:00 - Intro 2:46 - CJ’s background and role 7:23 - What Strategy does with Bitcoin 10:40 - Why offer perpetual preferred equity 14:58 - Which instrument is most senior? 16:44 - How AI helped design Strategy instruments 19:18 - What is STRC? 23:23 - Where does STRC yield come from? 26:14 - ATM program explained 29:21 - How STRC enables Strategy to buy BTC 36:49 - A $300T market + impact on BTC price 41:48 - MSTR vs STRC investors 44:36 - Who is buying STRC right now? 47:04 - DeFi teams tokenizing STRC 51:41 - What are the real risks for STRC? 55:00 - Would Strategy ever sell BTC? 57:50 - Why STRC is Strategy’s "iPhone moment" 1:01:55 - Closing 🙏 Thanks to Chaitanya Jain from Strategy for joining us!
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🎙️ New The Edge Podcast 🟠 Michael Saylor's BTC-Backed STRC Is Coming For A $300T Market 0:00 - Intro 2:46 - CJ’s background and role 7:23 - What Strategy does with Bitcoin 10:40 - Why offer perpetual preferred equity 14:58 - Which instrument is most senior? 16:44 - How AI helped design Strategy instruments 19:18 - What is STRC? 23:23 - Where does STRC yield come from? 26:14 - ATM program explained 29:21 - How STRC enables Strategy to buy BTC 36:49 - A $300T market + impact on BTC price 41:48 - MSTR vs STRC investors 44:36 - Who is buying STRC right now? 47:04 - DeFi teams tokenizing STRC 51:41 - What are the real risks for STRC? 55:00 - Would Strategy ever sell BTC? 57:50 - Why STRC is Strategy’s "iPhone moment" 1:01:55 - Closing 🙏 Thanks to Chaitanya Jain from Strategy for joining us!

DeFi Dad ⟠ defidad.eth

179,210 просмотров • 7 месяцев назад

📹 WATCH: Michael Saylor delivers his keynote speech on Digital Credit at Strategy World 2026. He unpacks #Bitcoin as Digital Capital, explains how variable preferred equity (STRC) unlocks long-duration, tax-efficient yield with principal protection, and outlines a future where ETFs, tokens, and bank accounts are built on programmable Digital Credit. 0:00 – Making Money Digitally 1:00 – Bitcoin as Digital Capital 2:40 – Digital Credit & STRC 4:00 – Capital to Credit Breakthrough 5:26 – From Leverage to Variable Preferred 8:14 – Limits of Traditional Debt 11:30 – Equity Upside, Credit Safety 13:05 – Pricing BTC Risk 15:31 – STRF Through a 45% Drawdown 21:26 – Tax Yield & Treasury Strategy 27:51 – Programmable Digital Credit 37:47 – The Credit–Bitcoin Flywheel 44:12 – The $50T Opportunity
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📹 WATCH: Michael Saylor delivers his keynote speech on Digital Credit at Strategy World 2026. He unpacks #Bitcoin as Digital Capital, explains how variable preferred equity (STRC) unlocks long-duration, tax-efficient yield with principal protection, and outlines a future where ETFs, tokens, and bank accounts are built on programmable Digital Credit. 0:00 – Making Money Digitally 1:00 – Bitcoin as Digital Capital 2:40 – Digital Credit & STRC 4:00 – Capital to Credit Breakthrough 5:26 – From Leverage to Variable Preferred 8:14 – Limits of Traditional Debt 11:30 – Equity Upside, Credit Safety 13:05 – Pricing BTC Risk 15:31 – STRF Through a 45% Drawdown 21:26 – Tax Yield & Treasury Strategy 27:51 – Programmable Digital Credit 37:47 – The Credit–Bitcoin Flywheel 44:12 – The $50T Opportunity

Bitcoin For Corporations

567,936 просмотров • 8 месяцев назад

Here's my conversation with David Hoffman of Bankless We unpack $SATA and $STRC, the landscape of Digital Credit, Strive & Strategy business model, and rebuilding the world's trust infrastructure from the ground up. Great follow up conversation to Michael Saylor joining the pod last month. [TIMESTAMPS] 0:00 Intro 1:59 Stretch, Risk, and Balance Sheets 5:28 Dividend Backstop Debate 8:53 Measuring Bitcoin Downside 15:25 Success as Long-Tail Risk 19:17 Common Equity as Revenue 25:57 Digital Credit’s Massive Market 29:37 Credit, Liquidity, and Yield 33:02 Banks, Trust, and Inflation 36:08 Trust Networks Rebuilt 40:26 Digital Labor and Yield 44:38 Bitcoin’s Growing Capital Base 48:36 S-Curve and Market Size 52:36 Building on Bitcoin Instruments 55:58 Transforming the Asset 59:12 Co-opetition in Bitcoin Credit 1:03:23 Low Vol for Long Holders 1:09:13 Strive Versus Strategy 1:12:38 Scaling Faster Than Strategy 1:17:30 Closing & Disclaimers
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Here's my conversation with David Hoffman of Bankless We unpack $SATA and $STRC, the landscape of Digital Credit, Strive & Strategy business model, and rebuilding the world's trust infrastructure from the ground up. Great follow up conversation to Michael Saylor joining the pod last month. [TIMESTAMPS] 0:00 Intro 1:59 Stretch, Risk, and Balance Sheets 5:28 Dividend Backstop Debate 8:53 Measuring Bitcoin Downside 15:25 Success as Long-Tail Risk 19:17 Common Equity as Revenue 25:57 Digital Credit’s Massive Market 29:37 Credit, Liquidity, and Yield 33:02 Banks, Trust, and Inflation 36:08 Trust Networks Rebuilt 40:26 Digital Labor and Yield 44:38 Bitcoin’s Growing Capital Base 48:36 S-Curve and Market Size 52:36 Building on Bitcoin Instruments 55:58 Transforming the Asset 59:12 Co-opetition in Bitcoin Credit 1:03:23 Low Vol for Long Holders 1:09:13 Strive Versus Strategy 1:12:38 Scaling Faster Than Strategy 1:17:30 Closing & Disclaimers

Jeff Walton

22,380 просмотров • 5 месяцев назад

Digital credit is only a year old, which makes clear explanations & institutional risk framing essential. Nate Geraci asked the tough questions on digital credit, $SATA, $ASST, the $BTC drawdown & more. My full conversation on Crypto Prime. TIMESTAMPS 00:00 Intro: Matt Cole on Strive and SATA 01:09 Strive’s shift into structured finance 02:44 ASST vs. SATA: amplified Bitcoin exposure vs. digital credit 07:28 What SATA is and how the preferred equity works 10:12 Why Strive calls SATA “digital credit” 13:32 Credit risk, Bitcoin drawdowns, and Strive’s reserves 17:46 Bitcoin return scenarios and SATA dividend sustainability 20:25 Bitcoin as collateral vs. cash-flowing assets 25:08 Does a 13% dividend mean higher risk? 29:47 How digital credit should be marketed 34:30 SATA vs. Strategy’s Stretch 36:25 Strategy, Michael Saylor, and Bitcoin’s market narrative 41:04 Why Bitcoin has drawn down 43:02 AI, IPOs, and capital flowing away from Bitcoin 43:44 OG Bitcoin holder selling pressure 47:20 What could bring Bitcoin momentum back 50:43 Closing thoughts
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Digital credit is only a year old, which makes clear explanations & institutional risk framing essential. Nate Geraci asked the tough questions on digital credit, $SATA, $ASST, the $BTC drawdown & more. My full conversation on Crypto Prime. TIMESTAMPS 00:00 Intro: Matt Cole on Strive and SATA 01:09 Strive’s shift into structured finance 02:44 ASST vs. SATA: amplified Bitcoin exposure vs. digital credit 07:28 What SATA is and how the preferred equity works 10:12 Why Strive calls SATA “digital credit” 13:32 Credit risk, Bitcoin drawdowns, and Strive’s reserves 17:46 Bitcoin return scenarios and SATA dividend sustainability 20:25 Bitcoin as collateral vs. cash-flowing assets 25:08 Does a 13% dividend mean higher risk? 29:47 How digital credit should be marketed 34:30 SATA vs. Strategy’s Stretch 36:25 Strategy, Michael Saylor, and Bitcoin’s market narrative 41:04 Why Bitcoin has drawn down 43:02 AI, IPOs, and capital flowing away from Bitcoin 43:44 OG Bitcoin holder selling pressure 47:20 What could bring Bitcoin momentum back 50:43 Closing thoughts

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19,386 просмотров • 4 месяцев назад

We sat down with Strategy CEO Phong Le to unpack something that few fully understand quite yet: digital credit. 👀 This isn’t just theory, it’s the mechanism behind $STRC and how Strategy is able to continuously accumulate BTC. 📈 Watch this and expect the entire flywheel to click. Timestamps: 00:00 - What is digital credit? 00:25 - Phong Le’s Bitcoin journey 03:01 - Why people misunderstand preferreds 03:56 - TradFi vs digital credit 06:09 - Strategy’s role 08:03 - Where yield comes from 09:28 - Why preferred equity 11:11 - Why yields are high 11:58 - Supply/demand dynamics 15:37 - Retail access 16:55 - Future of preferreds 22:23 - Tokenization + 24/7 markets 24:44 - STRC vs owning BTC
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We sat down with Strategy CEO Phong Le to unpack something that few fully understand quite yet: digital credit. 👀 This isn’t just theory, it’s the mechanism behind $STRC and how Strategy is able to continuously accumulate BTC. 📈 Watch this and expect the entire flywheel to click. Timestamps: 00:00 - What is digital credit? 00:25 - Phong Le’s Bitcoin journey 03:01 - Why people misunderstand preferreds 03:56 - TradFi vs digital credit 06:09 - Strategy’s role 08:03 - Where yield comes from 09:28 - Why preferred equity 11:11 - Why yields are high 11:58 - Supply/demand dynamics 15:37 - Retail access 16:55 - Future of preferreds 22:23 - Tokenization + 24/7 markets 24:44 - STRC vs owning BTC

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123,609 просмотров • 6 месяцев назад

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Our Q3 2026 $MSTR Earnings Call covered record financial results, Digital Capital, Digital Equity, Digital Credit, tokenization, and our strategy for the next bull market. Andrew Kang | Q3 Financial Results 00:01:32 - Q3 highlights: 848,517 BTC, record earnings, and treasury growth 00:06:19 - Capital raising, USD Assets, and balance sheet strength 00:09:31 - Daily dividends approved: $STRC begins November 1 Phong Le | Digital Equity and Digital Credit 00:14:02 - $MSTR as Amplified Bitcoin: Q3 outperformance and Bitcoin Per Share 00:18:44 - Fortress balance sheet, mNAV, and positioning for the next bull market 00:24:45 - Digital Credit growth and $STRC's return to par 00:27:37 - Return of capital and tax-efficient Digital Credit 00:29:22 - Capital framework: USD Assets, Bitcoin monetization, and repurchases 00:33:09 - BTC Hurdle ARR, BTC Breakeven ARR, BTC Floor ARR, and Digital Credit risk modeling 00:41:22 - $STRC performance, institutional adoption, and daily dividends Michael Saylor | Bitcoin and Digital Capital 00:47:14 - Bitcoin's next bull market, dominance, and the 2028 halving 00:50:05 - Regulatory guidance, banking adoption, and Bitcoin supply dynamics 00:56:01 - Tokenized $MSTR and $STRC: 24/7 global capital markets 01:02:05 - AI disruption and the value of scarce Digital Capital 01:07:19 - Quantum computing, Bitcoin security, and long-term potential 01:15:45 - Bitcoin treasury companies and the expanding Digital Credit ecosystem 01:20:12 - Digital Capital, Digital Credit, Digital Equity, and Strategy's central bank vision Live Q&A 01:28:03 - Andrew Harte, BTIG: How does a stronger balance sheet change Strategy's next bull market playbook? 01:32:20 - Khing Oei (Khing Oei): Equity ATM issuance, mNAV, capital allocation, and scaling institutional demand for $STRC? 01:36:14 - Alex Thorn (Alex Thorn), Galaxy: Plans for $STRF, $STRD, $STRK, and $STRE? 01:40:41 - Pete Christiansen, Citi: Does Bitcoin financialization introduce leverage and counterparty risk? 01:48:25 - Scott Melker (The Wolf Of All Streets): Tokenized $MSTR and preferreds, U.S. access, and Strategy's plans for tokenization?

Michael Saylor

262,555 просмотров • 7 дней назад

🔥BITCOIN, CAPITAL, RISK: DIGITAL CREDIT MASTERCLASS🔥 Bitcoin is beginning to transform from a treasury asset into the foundation of an entirely new credit market. In this digital credit masterclass, we examine how perpetual preferred capital can convert Bitcoin’s long-term appreciation into recurring income for investors. Using 100,000 Monte Carlo simulations, we model a Bitcoin balance sheet with 40% compound annual growth, 40% volatility, recurring preferred dividends, and multiple liquidity-reserve designs. We compare Strategy’s STRC with traditional preferred securities from JPMorgan and examine how Apple and Berkshire Hathaway manage liquidity alongside productive assets. The results reveal how common-equity amplification, loss absorption, sequence risk, and forced asset sales can produce radically different outcomes from the same Bitcoin return. We also identify what investors must prove before claiming that digital credit is mispriced rather than merely offering a high yield. This is the ultimate breakdown of Bitcoin, risk, capital structure, and the financial engineering that could reshape global credit markets:
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🔥BITCOIN, CAPITAL, RISK: DIGITAL CREDIT MASTERCLASS🔥 Bitcoin is beginning to transform from a treasury asset into the foundation of an entirely new credit market. In this digital credit masterclass, we examine how perpetual preferred capital can convert Bitcoin’s long-term appreciation into recurring income for investors. Using 100,000 Monte Carlo simulations, we model a Bitcoin balance sheet with 40% compound annual growth, 40% volatility, recurring preferred dividends, and multiple liquidity-reserve designs. We compare Strategy’s STRC with traditional preferred securities from JPMorgan and examine how Apple and Berkshire Hathaway manage liquidity alongside productive assets. The results reveal how common-equity amplification, loss absorption, sequence risk, and forced asset sales can produce radically different outcomes from the same Bitcoin return. We also identify what investors must prove before claiming that digital credit is mispriced rather than merely offering a high yield. This is the ultimate breakdown of Bitcoin, risk, capital structure, and the financial engineering that could reshape global credit markets:

Adam Livingston

15,057 просмотров • 1 месяц назад

Allard Peng says Digital Credit investors are being overcompensated for the risk they’re taking right now. Bitcoin Asset Research is back on The Income Show with Joe Burnett, MSBA to break down what’s holding STRC below par, where digital credit goes next, and why he’s still very bullish on Bitcoin. Timestamps: 0:00 - Intro 1:21 - Why STRC Isn’t at Par 4:09 - Is Leverage Back? 7:14 - Buybacks vs. Dividends 11:05 - Too Many Buybacks? 15:55 - When Yield Is Too High 18:51 - The Future of Digital Credit 21:29 - Digital Money and Digital Yield 30:37 - Fixed vs. Variable 40:13 - Measuring Digital Credit Risk 46:02 - Bitcoin Outlook 51:09 - Closing Thoughts $BTC $MSTR $STRC $ASST $SATA $SATS
53:25

Allard Peng says Digital Credit investors are being overcompensated for the risk they’re taking right now. Bitcoin Asset Research is back on The Income Show with Joe Burnett, MSBA to break down what’s holding STRC below par, where digital credit goes next, and why he’s still very bullish on Bitcoin. Timestamps: 0:00 - Intro 1:21 - Why STRC Isn’t at Par 4:09 - Is Leverage Back? 7:14 - Buybacks vs. Dividends 11:05 - Too Many Buybacks? 15:55 - When Yield Is Too High 18:51 - The Future of Digital Credit 21:29 - Digital Money and Digital Yield 30:37 - Fixed vs. Variable 40:13 - Measuring Digital Credit Risk 46:02 - Bitcoin Outlook 51:09 - Closing Thoughts $BTC $MSTR $STRC $ASST $SATA $SATS

True North

13,419 просмотров • 14 дней назад

My Views on BTC Theory and Practice at BTC Prague. 4:07 BTC Business Models, Treasury Theory & Growth Dynamics 13:30 BTC Equity Models & Metrics (BTC Yield, BTC Gain) 18:10 BTC Credit Models & Metrics (BTC Rating, BTC Risk, BTC Credit) 21:25 Logic of BTC Perpetual Preferreds like $STRF & $STRK 30:00 BTC Credit vs. Traditional Credit Instruments 35:00 Is the Bitcoin Network Getting Stronger or Weaker? 39:20 Global BTC Usage Models & Adoption Dynamics
45:50

My Views on BTC Theory and Practice at BTC Prague. 4:07 BTC Business Models, Treasury Theory & Growth Dynamics 13:30 BTC Equity Models & Metrics (BTC Yield, BTC Gain) 18:10 BTC Credit Models & Metrics (BTC Rating, BTC Risk, BTC Credit) 21:25 Logic of BTC Perpetual Preferreds like $STRF & $STRK 30:00 BTC Credit vs. Traditional Credit Instruments 35:00 Is the Bitcoin Network Getting Stronger or Weaker? 39:20 Global BTC Usage Models & Adoption Dynamics

Michael Saylor

456,743 просмотров • 1 год назад

🎙️ New The Edge Podcast 🪐 How Saturn Is Tokenizing Michael Saylor's 11.5% $STRC BTC-Backed Yield For DeFi | DeFi Frontier 0:00 - Intro 2:21 - Saturn CoFounders background 4:47 - Why build Saturn? 6:57 - Why Saylor’s excited for STRC in DeFi 10:14 - Three major DeFi use cases 14:59 - How Saturn distributes STRC yield 15:58 - Where STRC yield comes from 17:06 - 2-token design: USDat vs sUSDat 18:48 - Is USDat a stablecoin? 20:56 - How STRC vs USDat peg works 24:29 - Opportunity for STRC to grow 28:37 - STRC demand will eat into fixed income 31:50 - DeFi is starving for a yield like STRC 35:43 - Can STRC become the risk-free rate? 37:20 - 24/7 trading of STRC onchain 39:16 - Impact of perps for STRC 41:46 - How far could STRC reasonably drop 43:50 - What’s live now on Saturn? 45:23 - Closing 🙏 Thanks to Saturn Foundation CoFounders Ellis Osborn and kevin😴 | Saturn for joining us!
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🎙️ New The Edge Podcast 🪐 How Saturn Is Tokenizing Michael Saylor's 11.5% $STRC BTC-Backed Yield For DeFi | DeFi Frontier 0:00 - Intro 2:21 - Saturn CoFounders background 4:47 - Why build Saturn? 6:57 - Why Saylor’s excited for STRC in DeFi 10:14 - Three major DeFi use cases 14:59 - How Saturn distributes STRC yield 15:58 - Where STRC yield comes from 17:06 - 2-token design: USDat vs sUSDat 18:48 - Is USDat a stablecoin? 20:56 - How STRC vs USDat peg works 24:29 - Opportunity for STRC to grow 28:37 - STRC demand will eat into fixed income 31:50 - DeFi is starving for a yield like STRC 35:43 - Can STRC become the risk-free rate? 37:20 - 24/7 trading of STRC onchain 39:16 - Impact of perps for STRC 41:46 - How far could STRC reasonably drop 43:50 - What’s live now on Saturn? 45:23 - Closing 🙏 Thanks to Saturn Foundation CoFounders Ellis Osborn and kevin😴 | Saturn for joining us!

DeFi Dad ⟠ defidad.eth

129,201 просмотров • 6 месяцев назад

Bitcoin Is About To DEVOUR $300 Trillion - Strive CEO Matt Cole 0:00 The $3T Digital Credit Market 3:24 Why 11.5% Yield Beats Selling Bitcoin 5:17 How STRC & SATA Survived Bitcoin’s Crash 6:12 Why Institutions Want More Volatility 8:37 How To Pick Between STRC & SATA 10:13 Why Preferred Equity Wins For Bitcoin Bulls 14:21 "Products, Not Securities" 16:00 Bitcoin Crashed, Their Reserve Grew 19:44 The Bitcoin Treasury Consolidation Wave 24:05 Why Most Treasury Companies Will Fail 27:50 How Managing $70B Made Him BTC Maximalist 28:44 Calling Out The Fed To Their Face
31:08

Bitcoin Is About To DEVOUR $300 Trillion - Strive CEO Matt Cole 0:00 The $3T Digital Credit Market 3:24 Why 11.5% Yield Beats Selling Bitcoin 5:17 How STRC & SATA Survived Bitcoin’s Crash 6:12 Why Institutions Want More Volatility 8:37 How To Pick Between STRC & SATA 10:13 Why Preferred Equity Wins For Bitcoin Bulls 14:21 "Products, Not Securities" 16:00 Bitcoin Crashed, Their Reserve Grew 19:44 The Bitcoin Treasury Consolidation Wave 24:05 Why Most Treasury Companies Will Fail 27:50 How Managing $70B Made Him BTC Maximalist 28:44 Calling Out The Fed To Their Face

The Wolf Of All Streets

307,092 просмотров • 5 месяцев назад

Michael Saylor & Phong Le just addressed the biggest questions investors are asking: - Will Strategy sell Bitcoin soon? - Why move to semi-monthly dividends with $STRC (is daily next?) - What’s the endgame with $MSTR & Digital Credit Full raw Q&A with Michael Saylor & Phong Le — unfiltered. Share your thoughts on their responses below. Timestamps: 00:00 Introduction 03:22 Will Strategy Sell Bitcoin? 06:05 STRC ROC Tax Question 07:06 Saylor on Strive & $SATA 13:02 Future of STRC Dividends 16:41 Will Strategy Slow Buying Btc? 19:00 The $100 Peg 21:57 STRC, DeFi & Fragility 27:17 Why Is Bitcoin Stuck? 30:00 Monthly $STRK, $STRD, $STRF Dividends 31:38 Retiring Preferred Stock 35:06 Fixed 10% Yield 35:52 Scaling STRC 39:44 Winning Over Skeptics 42:58 Understanding MNAV Calculations 45:03 “Rip the Wings Off Shorts” 52:11 Ultimate STRC Product 59:52 Strategy at $10M Bitcoin 1:00:55 BTC Yield Metric 1:01:45 Custody & Proof of Reserves 1:03:58 Strategy as Investor Gateway 1:06:06 Teaching the Next Generation 1:08:12 Bitcoin’s Place in History
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Michael Saylor & Phong Le just addressed the biggest questions investors are asking: - Will Strategy sell Bitcoin soon? - Why move to semi-monthly dividends with $STRC (is daily next?) - What’s the endgame with $MSTR & Digital Credit Full raw Q&A with Michael Saylor & Phong Le — unfiltered. Share your thoughts on their responses below. Timestamps: 00:00 Introduction 03:22 Will Strategy Sell Bitcoin? 06:05 STRC ROC Tax Question 07:06 Saylor on Strive & $SATA 13:02 Future of STRC Dividends 16:41 Will Strategy Slow Buying Btc? 19:00 The $100 Peg 21:57 STRC, DeFi & Fragility 27:17 Why Is Bitcoin Stuck? 30:00 Monthly $STRK, $STRD, $STRF Dividends 31:38 Retiring Preferred Stock 35:06 Fixed 10% Yield 35:52 Scaling STRC 39:44 Winning Over Skeptics 42:58 Understanding MNAV Calculations 45:03 “Rip the Wings Off Shorts” 52:11 Ultimate STRC Product 59:52 Strategy at $10M Bitcoin 1:00:55 BTC Yield Metric 1:01:45 Custody & Proof of Reserves 1:03:58 Strategy as Investor Gateway 1:06:06 Teaching the Next Generation 1:08:12 Bitcoin’s Place in History

Natalie Brunell ⚡️

255,368 просмотров • 5 месяцев назад

I joined Katie Greifeld and Romaine Bostick on Bloomberg today to discuss Strategy’s evolution into a Digital Capital platform, our $3B cash reserve, $STRC, balance sheet resilience, and our long-term commitment to Bitcoin. 01:17 - Strategy’s evolution from Bitcoin Treasury Company to full Digital Capital platform 01:25 - Over 840,000 BTC, $10.5B of $STRC, and Strategy’s responsibilities 01:45 - Why Strategy built a $3B cash reserve after listening to preferred shareholders 02:30 - The path for $STRC: build USD reserves, return $STRC to par, issue more $STRC, and buy $BTC 04:22 - $MSTR’s goal: outperform Bitcoin over time while managing volatility through bull and bear markets 05:41 - Balance sheet resilience and why debt risk is low 06:50 - Strategy’s long-term Bitcoin commitment: “We’re not going anywhere” 07:04 - Bitcoin is bigger than Strategy: 4% ownership, $30–40B of daily volume, and bitcoin sales that did not move the market 08:46 - Software, AI, Bitcoin, and the maturity of a 25-year public company operating inside digital finance
9:08

I joined Katie Greifeld and Romaine Bostick on Bloomberg today to discuss Strategy’s evolution into a Digital Capital platform, our $3B cash reserve, $STRC, balance sheet resilience, and our long-term commitment to Bitcoin. 01:17 - Strategy’s evolution from Bitcoin Treasury Company to full Digital Capital platform 01:25 - Over 840,000 BTC, $10.5B of $STRC, and Strategy’s responsibilities 01:45 - Why Strategy built a $3B cash reserve after listening to preferred shareholders 02:30 - The path for $STRC: build USD reserves, return $STRC to par, issue more $STRC, and buy $BTC 04:22 - $MSTR’s goal: outperform Bitcoin over time while managing volatility through bull and bear markets 05:41 - Balance sheet resilience and why debt risk is low 06:50 - Strategy’s long-term Bitcoin commitment: “We’re not going anywhere” 07:04 - Bitcoin is bigger than Strategy: 4% ownership, $30–40B of daily volume, and bitcoin sales that did not move the market 08:46 - Software, AI, Bitcoin, and the maturity of a 25-year public company operating inside digital finance

Phong Le

490,638 просмотров • 3 месяцев назад

Bitcoin is Digital Capital. Strategy transforms it into Digital Credit and Digital Equity. $BTC $STRC $MSTR
4:31

Bitcoin is Digital Capital. Strategy transforms it into Digital Credit and Digital Equity. $BTC $STRC $MSTR

Michael Saylor

251,447 просмотров • 22 дней назад

Bitcoin has already won as Digital Capital. The next wave is Digital Credit, Digital Money, Digital Yield, and Bitcoin-backed capital markets — products that can bring trillions of dollars of traditional credit and money market capital onto Bitcoin. My interview with Cointelegraph at BTC Prague. 00:57 — Bitcoin in a drawdown: five major pullbacks in six years, stronger fundamentals, and rising dominance 02:23 — Digital Credit: from zero to an $11B+ asset class in 12 months 03:35 — Digital Money: bitcoin-backed yieldcoins and the path from 40 vol to 0 vol 04:31 — The opportunity for 8% yield in dollars, euros, yen, pounds, and francs 06:02 — $300T of credit, $30–50T of money markets, and the $10T opportunity for Bitcoin 07:19 — Why Bitcoin is winning economically, technically, and ethically 08:26 — Quantum computing, FUD, and why bear markets amplify Bitcoin debates 10:37 — AI capital rotation, Bitcoin’s current drawdown, and the path to recovery 11:36 — Six years of Strategy: why I would have moved faster into Digital Credit 12:22 — The ideal Bitcoin Treasury Company: common equity plus STRC-style Digital Credit 14:35 — The 32 BTC sale, the $100M bitcoin buyback, and why capital must back credit 17:02 — Defending the equity, credit, and bitcoin-backed capital structure 19:03 — The tradeoff: buy 200,000 BTC and sell 10,000 BTC — or buy and sell zero 20:15 — “Never sell,” Twitter trolls, and Strategy’s fiduciary obligations 22:06 — Bitcoin per share, long-term accretion, and accumulating through bull and bear markets 22:34 — $21B of equity raised in 16 weeks and ~$10B of bitcoin acquired this year 24:18 — The Strategic Bitcoin Reserve, US leadership, and supportive regulation 27:18 — Digital Credit, bank credit, and Digital Money bringing trillions onto Bitcoin 28:01 — Why Bitcoin can grow organically without central bank support
28:48

Bitcoin has already won as Digital Capital. The next wave is Digital Credit, Digital Money, Digital Yield, and Bitcoin-backed capital markets — products that can bring trillions of dollars of traditional credit and money market capital onto Bitcoin. My interview with Cointelegraph at BTC Prague. 00:57 — Bitcoin in a drawdown: five major pullbacks in six years, stronger fundamentals, and rising dominance 02:23 — Digital Credit: from zero to an $11B+ asset class in 12 months 03:35 — Digital Money: bitcoin-backed yieldcoins and the path from 40 vol to 0 vol 04:31 — The opportunity for 8% yield in dollars, euros, yen, pounds, and francs 06:02 — $300T of credit, $30–50T of money markets, and the $10T opportunity for Bitcoin 07:19 — Why Bitcoin is winning economically, technically, and ethically 08:26 — Quantum computing, FUD, and why bear markets amplify Bitcoin debates 10:37 — AI capital rotation, Bitcoin’s current drawdown, and the path to recovery 11:36 — Six years of Strategy: why I would have moved faster into Digital Credit 12:22 — The ideal Bitcoin Treasury Company: common equity plus STRC-style Digital Credit 14:35 — The 32 BTC sale, the $100M bitcoin buyback, and why capital must back credit 17:02 — Defending the equity, credit, and bitcoin-backed capital structure 19:03 — The tradeoff: buy 200,000 BTC and sell 10,000 BTC — or buy and sell zero 20:15 — “Never sell,” Twitter trolls, and Strategy’s fiduciary obligations 22:06 — Bitcoin per share, long-term accretion, and accumulating through bull and bear markets 22:34 — $21B of equity raised in 16 weeks and ~$10B of bitcoin acquired this year 24:18 — The Strategic Bitcoin Reserve, US leadership, and supportive regulation 27:18 — Digital Credit, bank credit, and Digital Money bringing trillions onto Bitcoin 28:01 — Why Bitcoin can grow organically without central bank support

Michael Saylor

265,014 просмотров • 4 месяцев назад

🔥HOW STRATEGY, METAPLANET, AND STRIVE WILL BRING US $1,000,000 BITCOIN🔥 A new financial engine is live and it’s about to pull Bitcoin into the seven-figure range. This is not a hype cycle. It’s a capital flow inevitability. In this presentation, I break down the reflexive flywheel powering Strategy, Metaplanet, and Strive,three public companies using Bitcoin-backed preferred equity to convert fixed-income capital into relentless BTC demand. Topics Covered: How the STRC/ATM flywheel amplifies every $1 of equity into $1.33 of Bitcoin Why global allocators will flee 0–4% bonds for 11% yield backed by BTC How just 0.5% of the $153T bond market creates a $765B inflow Why post-2028 halving leaves only 82k BTC/year… vs 376k BTC/year in corporate absorption Why $1 million per BTC is the mathematical clearing price. The bond market is 150× larger than Bitcoin. The flywheel already operates across continents. PRICE IS THE FINAL VARIABLE:
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🔥HOW STRATEGY, METAPLANET, AND STRIVE WILL BRING US $1,000,000 BITCOIN🔥 A new financial engine is live and it’s about to pull Bitcoin into the seven-figure range. This is not a hype cycle. It’s a capital flow inevitability. In this presentation, I break down the reflexive flywheel powering Strategy, Metaplanet, and Strive,three public companies using Bitcoin-backed preferred equity to convert fixed-income capital into relentless BTC demand. Topics Covered: How the STRC/ATM flywheel amplifies every $1 of equity into $1.33 of Bitcoin Why global allocators will flee 0–4% bonds for 11% yield backed by BTC How just 0.5% of the $153T bond market creates a $765B inflow Why post-2028 halving leaves only 82k BTC/year… vs 376k BTC/year in corporate absorption Why $1 million per BTC is the mathematical clearing price. The bond market is 150× larger than Bitcoin. The flywheel already operates across continents. PRICE IS THE FINAL VARIABLE:

Adam Livingston

19,163 просмотров • 9 месяцев назад

My Bitcoin Treasury discussion with Joe Burnett, MSBA. 0:00 – Intro 1:00 – First priority as Director of Bitcoin Strategy 3:11 – Should Bitcoin companies copy MSTR’s preferreds? 5:02 – Structuring credit: BTC Ratings from 2 to 10 6:25 – Long-term CAGR for Bitcoin vs. S&P 500 8:28 – Why Bitcoin has fewer risks than stocks 10:36 – The global index with no counterparty risk 15:14 – Is Bitcoin a global productivity index? 16:56 – Will MSTR join the S&P 500? 18:14 – Why Vanguard owns MSTR 19:23 – Unlocking passive capital for Bitcoin 21:14 – Why BTC companies magnetize capital 23:24 – Mag 7 adoption playbook: fast vs. slow 25:47 – Most CEOs don’t want the money 27:15 – Who should adopt Bitcoin—and who won’t 29:20 – Why MSTR is going all-in on preferreds 31:21 – Preferreds are better than convertibles 32:32 – Will BTC companies still trade above NAV in bear markets? 34:09 – Why 2022 was a crypto-catalyzed bear market 35:14 – The difference between 1.1x and 100x leverage 37:07 – How to defend BTC NAV with credit instruments 39:14 – How to create a Bitcoin short squeeze 41:20 – Why shorts don’t have the courage 43:20 – The future of BTC-backed credit and equity 45:04 – A new theory of Bitcoin corporate finance 49:30 – Copy MSTR: it’s good for everyone 50:26 – Harvard’s outdated Bitcoin case study 52:16 – Why the smartest firms are making bad moves 54:16 – Why academics ignore Strategy’s success 55:15 – How the world could look in four years 57:09 – Final thoughts and wrap-up
57:21

My Bitcoin Treasury discussion with Joe Burnett, MSBA. 0:00 – Intro 1:00 – First priority as Director of Bitcoin Strategy 3:11 – Should Bitcoin companies copy MSTR’s preferreds? 5:02 – Structuring credit: BTC Ratings from 2 to 10 6:25 – Long-term CAGR for Bitcoin vs. S&P 500 8:28 – Why Bitcoin has fewer risks than stocks 10:36 – The global index with no counterparty risk 15:14 – Is Bitcoin a global productivity index? 16:56 – Will MSTR join the S&P 500? 18:14 – Why Vanguard owns MSTR 19:23 – Unlocking passive capital for Bitcoin 21:14 – Why BTC companies magnetize capital 23:24 – Mag 7 adoption playbook: fast vs. slow 25:47 – Most CEOs don’t want the money 27:15 – Who should adopt Bitcoin—and who won’t 29:20 – Why MSTR is going all-in on preferreds 31:21 – Preferreds are better than convertibles 32:32 – Will BTC companies still trade above NAV in bear markets? 34:09 – Why 2022 was a crypto-catalyzed bear market 35:14 – The difference between 1.1x and 100x leverage 37:07 – How to defend BTC NAV with credit instruments 39:14 – How to create a Bitcoin short squeeze 41:20 – Why shorts don’t have the courage 43:20 – The future of BTC-backed credit and equity 45:04 – A new theory of Bitcoin corporate finance 49:30 – Copy MSTR: it’s good for everyone 50:26 – Harvard’s outdated Bitcoin case study 52:16 – Why the smartest firms are making bad moves 54:16 – Why academics ignore Strategy’s success 55:15 – How the world could look in four years 57:09 – Final thoughts and wrap-up

Michael Saylor

484,948 просмотров • 1 год назад

STRC is a glorified T-Bill. Incredibly over-hyped by the Bitcoin community. 11.5% variable yield that is going to decrease over time. Not 11.5% in perpetuity. Zero capital upside. It is better than a "money market fund" or "HYSA"? Sure, but that's a low bar to beat. Nobody builds wealth with these types of products. It's not the best Strategy preferred stock by any means. That's STRK. The fixed payment of $8 per share actually makes it far more attractive from an income perspective over the long-term. STRC is 11.5% annualized right now, but if/when BTC rallies & the Fed cuts rates, that's going to drop much lower. STRK gives you actual fixed income PLUS capital upside (non-expiring MSTR call option).
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STRC is a glorified T-Bill. Incredibly over-hyped by the Bitcoin community. 11.5% variable yield that is going to decrease over time. Not 11.5% in perpetuity. Zero capital upside. It is better than a "money market fund" or "HYSA"? Sure, but that's a low bar to beat. Nobody builds wealth with these types of products. It's not the best Strategy preferred stock by any means. That's STRK. The fixed payment of $8 per share actually makes it far more attractive from an income perspective over the long-term. STRC is 11.5% annualized right now, but if/when BTC rallies & the Fed cuts rates, that's going to drop much lower. STRK gives you actual fixed income PLUS capital upside (non-expiring MSTR call option).

Mitchell Askew

38,863 просмотров • 6 месяцев назад

NEW: BRITISH HODL bought $MSTR the day after Saylor’s first #Bitcoin press release in 2020. He’s still holding his $340K target — and says the next big bid comes from people who don’t want BTC at all. 📌$150 trillion now has access to BTC 📌Why $126K was mid-cycle, not the top 📌Selling BTC to people who don’t want it Watch ⚡️ TIMESTAMPS: 0:00 Intro 0:31 Why digital credit needs zero education 1:52 $15 billion and we haven't started 2:56 Will Saylor keep hitting the common ATM? 4:25 Why $126K was a mid-cycle top 5:19 Common ATM vs preferred ATM 6:32 Hammer STRC at par 7:15 The preferred flywheel 7:57 Can the pref market handle the demand? 9:37 What pension funds need to buy in 11:34 The 2024 vs 2026 treasury model 12:12 "How you gonna pump my bags?" 14:28 Total returns over Bitcoin per share 16:31 The man who orange-pilled BlackRock 17:19 The day everything changed 18:35 Everyone works for you now 19:38 In-kind conversions down to $1 million 20:25 Borrowing against IBIT at central bank plus 1 21:59 $140 million from self-custody to IBIT 23:18 IBIT started with 1 employee 24:39 2% net redemptions through a 50% drawdown 25:47 Is STRF the crown jewel? 27:08 The dark horse in Strategy's capital stack 28:40 Running down the preferred curve 30:34 Strategy's real cost of capital 31:08 Daily dividends and 24/7 trading 32:16 Retiring $10 billion of common into a new pref 34:39 What it would do to short sellers 36:26 Why Saylor ran through $42 billion so fast 37:38 Can anyone catch Strategy? 39:36 Using STRC money to buy back MSTR 42:12 Is Strategy overpaying for Bitcoin? 44:00 The melting ice cube 47:11 Cash-secured puts and Metaplanet 48:20 Managing cash vs the Bitcoin stack 49:30 From $1.8 billion to 850,000 Bitcoin 51:58 Lightning round: MSTR or ASST? 53:29 Still holding $340K 54:24 Nominal GDP vs rates 55:23 The free digital credit course
1:03:37

NEW: BRITISH HODL bought $MSTR the day after Saylor’s first #Bitcoin press release in 2020. He’s still holding his $340K target — and says the next big bid comes from people who don’t want BTC at all. 📌$150 trillion now has access to BTC 📌Why $126K was mid-cycle, not the top 📌Selling BTC to people who don’t want it Watch ⚡️ TIMESTAMPS: 0:00 Intro 0:31 Why digital credit needs zero education 1:52 $15 billion and we haven't started 2:56 Will Saylor keep hitting the common ATM? 4:25 Why $126K was a mid-cycle top 5:19 Common ATM vs preferred ATM 6:32 Hammer STRC at par 7:15 The preferred flywheel 7:57 Can the pref market handle the demand? 9:37 What pension funds need to buy in 11:34 The 2024 vs 2026 treasury model 12:12 "How you gonna pump my bags?" 14:28 Total returns over Bitcoin per share 16:31 The man who orange-pilled BlackRock 17:19 The day everything changed 18:35 Everyone works for you now 19:38 In-kind conversions down to $1 million 20:25 Borrowing against IBIT at central bank plus 1 21:59 $140 million from self-custody to IBIT 23:18 IBIT started with 1 employee 24:39 2% net redemptions through a 50% drawdown 25:47 Is STRF the crown jewel? 27:08 The dark horse in Strategy's capital stack 28:40 Running down the preferred curve 30:34 Strategy's real cost of capital 31:08 Daily dividends and 24/7 trading 32:16 Retiring $10 billion of common into a new pref 34:39 What it would do to short sellers 36:26 Why Saylor ran through $42 billion so fast 37:38 Can anyone catch Strategy? 39:36 Using STRC money to buy back MSTR 42:12 Is Strategy overpaying for Bitcoin? 44:00 The melting ice cube 47:11 Cash-secured puts and Metaplanet 48:20 Managing cash vs the Bitcoin stack 49:30 From $1.8 billion to 850,000 Bitcoin 51:58 Lightning round: MSTR or ASST? 53:29 Still holding $340K 54:24 Nominal GDP vs rates 55:23 The free digital credit course

Tyler Rowe

19,984 просмотров • 20 дней назад

Michael Saylor may have just revealed the future of Bitcoin treasury companies… and Strive is already building it. In this conversation with Strive's Chief Strategy Officer Avik Roy, we break down: • Why Strategy’s latest earnings call changed the game • The rise of digital credit ($STRC, $SATA & beyond) • Why some Bitcoin treasury firms failed • Why selling Bitcoin can actually be bullish • The next phase of institutional $BTC adoption One of the most insightful discussions we’ve had on Bitcoin treasury strategy. 00:00 Avik Roy’s Bitcoin Origin Story 14:26 What Avik Actually Does at Strive 17:39 Why Strive Wants to Become a PURE Bitcoin Company 20:19 Will Bitcoin Treasury Companies Start Consolidating? 27:14 Europe vs US Bitcoin Treasury Markets 29:00 Michael Saylor’s BIGGEST Earnings Call Hint 30:25 Why STRC Is Dominating the Market 33:22 The Most Shocking Part of Strategy’s Earnings Call 37:32 “Bitcoin Is Fungible… But Not for Taxes” 41:19 The Credit Rating Catalyst That Could Change Everything 44:18 Why Some Smaller Bitcoin Treasury Companies Failed 48:19 Will SATA & STRC Keep Paying Huge Yields? 52:35 Which Bitcoin Treasury Company Is Next? 56:44 “Bitcoin Treasuries Are Like Private Equity in the 1980s” 01:01:18 Macro Outlook: Bitcoin, Inflation & The Fed 01:05:08 Final Thoughts & Where to Follow Avik Roy Full episode 👇
1:05:54

Michael Saylor may have just revealed the future of Bitcoin treasury companies… and Strive is already building it. In this conversation with Strive's Chief Strategy Officer Avik Roy, we break down: • Why Strategy’s latest earnings call changed the game • The rise of digital credit ($STRC, $SATA & beyond) • Why some Bitcoin treasury firms failed • Why selling Bitcoin can actually be bullish • The next phase of institutional $BTC adoption One of the most insightful discussions we’ve had on Bitcoin treasury strategy. 00:00 Avik Roy’s Bitcoin Origin Story 14:26 What Avik Actually Does at Strive 17:39 Why Strive Wants to Become a PURE Bitcoin Company 20:19 Will Bitcoin Treasury Companies Start Consolidating? 27:14 Europe vs US Bitcoin Treasury Markets 29:00 Michael Saylor’s BIGGEST Earnings Call Hint 30:25 Why STRC Is Dominating the Market 33:22 The Most Shocking Part of Strategy’s Earnings Call 37:32 “Bitcoin Is Fungible… But Not for Taxes” 41:19 The Credit Rating Catalyst That Could Change Everything 44:18 Why Some Smaller Bitcoin Treasury Companies Failed 48:19 Will SATA & STRC Keep Paying Huge Yields? 52:35 Which Bitcoin Treasury Company Is Next? 56:44 “Bitcoin Treasuries Are Like Private Equity in the 1980s” 01:01:18 Macro Outlook: Bitcoin, Inflation & The Fed 01:05:08 Final Thoughts & Where to Follow Avik Roy Full episode 👇

One Chair

26,877 просмотров • 5 месяцев назад