Michael Saylor
👤 SpeakerAppearances Over Time
Podcast Appearances
Now, how many adjustments did I make to the convertible bonds in that timeframe?
None.
How many adjustments did I make to strike or strife or stride?
None, because we can't.
I mean, we can improve the underlying collateral,
But at the end of the day, the idea of a variable rate monthly preferred stock is the most flexible of a credit instrument in the public market.
So what we did is manage that with a laser-like focus on having a trade at 100.
And, you know, if you look at the price right now, it says on my screen $100.00.
Like, look at it.
What happened?
The vol of Bitcoin in the last 30 days is 55.
The trailing 30-day vol.
The trailing 30-day vol of STRC is 2.
Less than 2.
What is the volatility of every single equity in the S&P 500?
Between two and a half...
and 100.
So STRC became the least volatile security in the entire S&P 500 universe, right?
And now where'd the excess volatility go?
It went to MSTR.