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
If, on the other hand, you need the money in 12 months or six months or 24 months and you can't stand the risk of, oh, it might trade down 20%, then you want to buy the credit instrument because all of the efforts of the company are to keep that pegged around $100.
And then you're just picking up the 11%.
And that's three or four times better than your money market.
Everything in the middle, like other types of credit, corporate credit, junk bonds, you don't get paid for the risk you take.
You get 80 basis points more than the government rate to buy an investment grade bond.
You get 200 basis points more than the risk-free rate from the government to buy the junk bond or 250.
And so what's the point of that?
You're taking massive credit risk from those companies to get paid a little bit, and then you're getting taxed at the ordinary income rate.
And so bonds are not that interesting.
Digital credit is designed to have the benefits of equity, double-digit returns, deferred tax treatment, and the benefits of credit, low volatility, principal protection, stability.
It is the most liquid preferred stock in the world, right?
Right now it's about 350, $400 million.
A million dollars of liquidity a day.
So you can trade in and out of it whenever you want, which is a nice thing you...
Sometimes people offer you a really good structured deal, but you have to lock up your money for three months.
Exactly.
Or lock it up for a private fund and you'll lock it up for five years.
Like private credit, right?
I mean, or private equity.
That's okay, but the best idea is something that outperforms that.
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