Michael Saylor

speaker

2,284 appearances 6 recordings 5 series first heard Nov 2024 last heard 14 Jun

Michael Saylor’s voice in public audio — every appearance, attributed to the second.

Trend

recordings per month · last 12 months

Recordings per month over the last 12 months — 3 in all, peaking in Jun 2026 with 1.

Appearances

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Bankless · "Fix the Money, Fix the World" — Michael Saylor's Master Plan (plus questions on Quantum and Ethereum) · 13 Apr 2026 podcast

And that's something we created in the past 12 months.

But if a bank like JP Morgan starts to extend credit on Bitcoin as collateral,

Someone posts $100 billion or $50 billion of Bitcoin.

JP Morgan offers $10 billion of credit.

That $10 billion of credit is one year's supply of Bitcoin.

So every $10 billion of credit that's created is one turn on the network.

So I would be looking at the formation of bank credit networks and how big they get, like how much credit will Schwab or Citi or Morgan Stanley or JP Morgan extend on the underlying capital asset?

Because the thing that holds the price back

is the need to rehypothecate the Bitcoin in order to generate a loan or get yield.

So a lot of people, you know, you've got more than a trillion dollars worth of Bitcoin out there that's unbanked in the shadow banking system.

So when I need yield, I'm rehypothecating it and someone short selling it.

And when I need a loan, if you want a conventional loan against Bitcoin, you're paying 11%, 12% sometimes.

But if you went to a crypto exchange, they might give you the same loan for 2%, 3%.

But the catch is the cheap money requires that you transfer the Bitcoin and they rehypothecate it.

So...

So if someone's pledging $100 billion of Bitcoin as collateral on the crypto economy in order to borrow $10 or $20 billion of cash to spend, then you're short selling $100 billion of Bitcoin.

So you're short selling 10-year supply of Bitcoin.

So I would say probably the thing that's holding the price back

is rehypothecation of the underlying crypto asset in the crypto economy.

And the thing that will drive the price to the moon is people stop rehypothecating.

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