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.

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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

So the second best way is you buy Bitcoin with a perpetual, a variable rate, perpetual preferred stock.

You enter into what is in essence a nearly risk free swap.

You're going to give me a billion dollars.

I'm going to buy a billion of Bitcoin.

I'm going to agree to pay you a monthly dividend, currently 11%.

I'm never giving you back the billion.

Now, over the course of 20 years, what is the average dividend rate on stretch going to be?

Probably eight, right?

I mean, 11.5% is kind of the rate right now while Bitcoin is in a bear market and the volatility is 55 and everyone is concerned and this is a new thing.

But don't you think after three to five years after this instrument's been in the market, the ball of Bitcoin comes off, Bitcoin appreciates?

Probably, you know, even if SOFR is 370, we won't have an 800 basis point credit spread

against SOFR will probably have a 400, 500, 300 basis point credit spread.

So if you look out over time, you know, it's like, would you agree to pay 8% or 9% in order to buy an asset, which is going up, you think 29%?

Sure.

And what if we're wrong?

And what if it goes up 10%?

Okay, we'll just make a little bit of money.

What if it goes up 0%?

Well, I mean, anything is possible except for the fact that I just told you there's only $30 million of Bitcoin available for sale every day and we're buying all of it.

So it's not clear to me that it's going up 0% a year.

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