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 monthsRecordings per month over the last 12 months — 3 in all, peaking in Jun 2026 with 1.
Appearances
is that you're making a capital investment for a credit investor and you're absorbing the uncertainty of the future and the volatility of the present on the balance sheet of the common equity in order to strip the risk and strip the volatility from the credit investor's portfolio.
And the credit investor...
is paying you handsomely for that, right?
And everybody's getting what they want, right?
The capital investors in Bitcoin get a benefit.
The equity investors in strategy get amplification of Bitcoin.
And the credit investor gets that stripped down low volatility digital, you know, instrument, digital yield instrument.
And so...
You don't really want to stop.
If someone were to give you $10 billion and you didn't buy Bitcoin, then you actually lose the 30% ARR that's paying the dividend.
So now you have to find something else to invest in that's going to perform 30%.
And so what is that something?
And the answer is, here's the answer.
I don't think there's anything better, right?
I think that that's the best long-term capital investment.
But it doesn't really matter whether you agree with me or not.
The point is I run a public company and all of the equity investors in the public company are Bitcoin maximalists.
Right.
And so the people that hold MSTR believe that Bitcoin is going up more than 10 or 11 percent and they want to outperform it.
So when we're selling the credit to buy the Bitcoin, we are aligning with the equity investors.
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