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.

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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

You can do it with $10 billion of real estate, right?

So what is the fundamental issue here?

You have to decide what do you think is the long-term performance of the capital asset?

For example-

It wouldn't be good to do this with cotton candy or barrels of oil or soybeans because those aren't good capital assets, right?

In 100 years, it's not obvious they're going to go up in value.

But if you have scarce desirable property, a good capital investment asset, then you just take the capital return, whatever it is, you cut it in half.

And then you pay a dividend equal to half the expected capital return to the credit investor.

And then you have a vehicle which is working for the equity investor and working for the credit investor.

So if we come back to our company, we think Bitcoin's going up about 30% a year.

I said 29% a year when we started the conversation.

So can I pay a dividend of 10%, 11%?

Yeah, sure I can.

That's like one third of my expected ARR.

Okay, so how do we pay the dividend when the equity is trading at a premium?

And it's almost always trading at a premium to the underlying Bitcoin.

We've got a derivative of Bitcoin.

Our MSTR is a Bitcoin derivative.

So we just sell the equity, take the cash flow, remit it back to the credit investor.

If the equity trades at a discount, then you don't.

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