Michael Saylor

The second was Strife.

The third was Stride.

Stretch was the fourth.

Stream was the fifth, by the way.

But the idea of Strike was a convertible preferred stock that pays you a dividend and with a conversion rate.

And it's okay.

It was a great transition from convertible bonds and the retail investor could buy it.

But it's like, so I'm giving you 10% instead of 5%, but the principal value can change plus or minus two, three or 4% a day.

If you're a normal risk adverse retail investor or you're just a normal corporate treasurer, you don't wanna get paid 5% more per year if the principal might trade down 5% in a week.

You see, it's like now you're back to this issue of saying, you know, just hold it for four to 10 years.

It'll all work out fine.

But, you know, Bitcoin is buy it and hold it for four to 10 years.

It'll work out fine.

Let me spend an hour, 100 hours explaining why.

Convertible preferred stock, strike, strife, stride.

They're like, buy it.

You'll get paid double or triple or quadruple your money market.

But it might like trade down 10%, but then you hold it, it'll trade up.

Let me spend 10 hours explaining why.

Whereas, you know, the thing with Stretch was I have some like non-crypto friends.