FINALLY.. Michael Saylor Warns What Could Go Wrong For Bitcoin, STRC & MSTR — Nobody Is Ready

本站添加: 2026-05-28

[00:00:00]will probably buy all of the Bitcoin gets produced by the miners between here and the year 2140 and then there's no more Bitcoin. Let's say that all the fears about quantum computing come through, Bitcoin goes to zero, what happens to retirees that have all their money in the 11.5%? You do understand how much risk you're taking on here, don't you? This is going to be a highly anticipated market analysis from Michael Saylor as he breaks down his new perspective on the current state of the Bitcoin market. He recently appeared on CNBC explaining why he believes there may be little to no Bitcoin available by 2040 as corporations and institutions continue absorbing the supply at an aggressive pace.

[00:00:39]He was also asked several intriguing questions about quantum computing risks, potential company vulnerabilities, and how investors could be affected if things eventually go wrong. This is going to be a difficult analysis for many people to hear as he responds directly to every major concern, fear, and criticism surrounding Bitcoin and the future direction of the market right now. Would you call this a crypto winter or crypto pseudo winter that we've been through for a while? Is that Are we near closer to the end or >> Yeah, I think or do you even care at this I think so. I mean, I think we we were at the top in October about 125. I think we bottomed at 60. I think we're moving into the spring phase. We've got decent support here in these levels. I think we'll rally from here. We're just working against a few macro headwinds right now. What macro tailwinds are possible? What about Congress?

[00:01:30]Well, I think the the passage of the Clarity Act will be a big deal. I think even in the absence of that, the release of and guidance that lets you tokenize securities and and sports digital assets out of the SEC, the innovation eventually innovation exemption, that would be a big deal as well. The I mean, the next halving's in 2 years and >> And we're at what right now?

[00:01:53]Like we're never we it's like asking to we get towards the end it gets harder and harder to mine any. We And it'll be a couple hundred years before we get to 121 million. Not much Bitcoin left because at this point, all of the organic supply of Bitcoin being produced by the miners is being taken up by the Bitcoin >> bought more than was mined this year for for strategy. Yeah, we have. Yeah, the formation of digital credit means that the credit market itself is absorbing all of the organic supply of Bitcoin from now to forever. With our company will probably buy all of the Bitcoin that's produced by the miners between here and year 2140, and then there's no more Bitcoin. 2140. Yeah, that's correct.

[00:02:31]>> to leave that theoretically in your for your successors to So, talk talk about the credit uh side of things.

[00:02:38]>> Well, you know, Wall Street firms have been creating structured products forever. They take a a big stack of S&P securities, and they strip the downside, they give you part of the upside, and they sell it to high-net-worth individuals that would like upside with downside protection. What we've done is taken a capital asset, Bitcoin, and we're taking those we're converting that capital or those capital gains into credit dividends. So, we think Bitcoin's going up more than the S&P index over time. We expect 30%, but it doesn't matter if it's 10% or 20%. We can pay 11 and 1/2% dividend on a preferred stock, a credit dividend because that represents a fraction of the long-term capital gain that we're expecting. And so, if you're disciplined about the way that you convert a capital gain into a credit dividend, the capital gain's unrealized, the credit dividend becomes return of capital, and is tax deferred.

[00:03:32]So, digital credit is really synthetic yield where we're extracting the first 11 and 1/2% of our expected capital appreciation of Bitcoin, we're remitting it to the credit investors via an overcollateralized preferred stock.

[00:03:48]If you've got money you don't need or or you need it in the next 4 years, you either put it in a money market and you get 3 and 1/2% taxable or you put it in digital credit you get 11 and 1/2% tax deferred. So, if you're a crypto believer and you have working capital, you want to buy digital credit cuz you get paid four times as much after tax.

[00:04:06]Would you have even more upside than the 11 and 1/2%? In other words, you >> No, the the real breakthrough with STRC it's the biggest preferred stock in the world. It's the fastest growing preferred stock in the world. It's the most But it generates 11 and 1/2% you keep the rest if there's a >> The the reason it works is because we target $100 and then we use a variable dividend rate Okay. in order to keep it at 100 and we attach a shelf registration to it. So, if it trades at $100 and a penny, we sell it and so it has become the lowest volatility credit instrument and the most liquid credit instrument because in essence it's a bank account that pays you 11 and 1/2% tax deferred. Tax deferred and and it it if there are additional gains in Bitcoin and you're if it is the 30% instead of that you could do it with 10 you said but it Yeah, so What if it is 30? Who get Who gets the The common stock investors. So, what we've done is we've created a way for for common stock investors to create amplified Bitcoin.

[00:05:10]MSTR has outperformed Bitcoin over the past six years.

[00:05:13]>> to use that to to base the preferred. That's the credit that the preferred is based on. The common stock absorbs the risk, the volatility, and the upside and the credit gets the first 11 and 1/2%. And so, you can the common stock is a vol of 70 Joe and the credit has a vol of like three and Bitcoin has a vol of 40. So, what we're doing is financial engineering where we strip the upside and the volatility, give it to the common equity investors.

[00:05:41]That's a rocket. Bitcoin is a fighter jet.

[00:05:45]STR is a passenger jet for people that want a very comfortable ride, but they want to get double, you know, other credits.

[00:05:51]>> of the of this whatever it is this that you're doing right now? How much is is It's gone from zero to 10 and a half billion dollars in 10 months. We sold two billion dollars last month. It's it's growing at a 24 billion dollar a year run rate. If the company the company has has about 65 billion dollars of Bitcoin. If we did nothing, we're just holding 65 billion of Bitcoin. We look like an ETF.

[00:06:13]>> that. But if I sell the credit and I buy the Bitcoin and Bitcoin appreciates 20% a year, this is screamingly profitable for the common equity and the the company will outperform Bitcoin and that means that Bitcoin's up maybe 40% in the last 6 years. Our company's up close to 60% a year annualized. There's always going to be skeptics, but there's 900 million people that have a crypto account or they're buying it and and products like STRC are democratizing this because Matt we've got a viral action spreading through retail accounts, through retirees. There are a lot of people that are living on a fixed income and their view is they don't want to bet their kids tuition or they don't want to bet their capital on the Bitcoin roller coaster, but they would like to get paid four times the money market and and they don't think it's going to zero, right?

[00:07:04]>> Okay, let's say that all the fears about quantum computing come through. Bitcoin goes to zero. What happens to retirees that have all their money in the 11 and a half percent credit is?

[00:07:13]>> When consensus forms about a quantum threat existing, then we will upgrade the entire network in a matter of months. Michael Saylor continued emphasizing that if you are already a Bitcoin holder, you should do your best to increase your exposure while prices are still relatively affordable. But if you are still sitting on the sidelines thinking about entering the market, he believes you need to move quickly because as time passes, the supply will continue shrinking and prices could become dramatically more expensive in the years ahead. He also explained that if you are not comfortable investing directly into Bitcoin, you should take time to study STRC or MSTR as possible alternatives for generating stable yield and gaining exposure to the market.

[00:07:55]However, before investing in anything, you must fully understand what you are getting yourself into. Study first, learn how everything works behind the scenes, understand the risks involved, and make informed decisions before committing your money long-term.