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 monthsRecordings per month over the last 12 months — 3 in all, peaking in Jun 2026 with 1.
Appearances
But if you expect Bitcoin to go up 10% over the next decade, it's a screaming home run for the equity investors.
If you think Bitcoin's going up 0% a year for 100 years, well, in like 55 years, we have to do something.
I mean, like we do things faster, right?
Like you think I'm going to sit around for 55 years and not do something?
Look at all the things we've done in the past five years, right?
So at the end of the day, if you wanted to acquire Bitcoin with leverage,
Okay, the least risky way to do it is you sell common equity at a premium to the underlying NAV of the company.
So if the equity is trading at two times NAV, you sell a billion dollars of equity, you buy a billion of Bitcoin backed by 500 million of NAV, you just captured a $500 million gain upfront and it is risk-free forever, okay?
That is the lowest risk way.
And we did a lot of that, right?
That's why people are wondering, why did you actually sell equity when you're trading at three times NAV and we sold $21 billion of it?
It's like, why do you do that?
Because we made $14 billion risk-free in a matter of weeks.
Why wouldn't you do that?
What's the second best way?
Right.
Let's say you can't do that.
Right.
I mean, that trade isn't always there and eventually it dries up.
And right now with Bitcoin treasury companies, there aren't any Bitcoin treasury companies trading a two or three times now.
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