$STRC : Engineered For Growth, Yield, And Resilience.

uh...

all right let's face it folks bitcoin has been scorned from its very inception

so when it comes under pressure under periods of stress holders obviously are

ridiculed but nobody and i mean nobody takes more heat than my next guest

i want to bring a strategy executive chairman also found a michael sailor

you know michael uh...

and i listen it's you're i i give you props because you go everywhere you talk

to everyone even though you know these people either they don't know the story

and be don't care to know the story

uh... but now i think the audience is so broad

you know every every kid told their uncle to buy bitcoin last Thanksgiving

and now they're getting

hammer for it as well

what is your general reaction to the current pullback particularly since

gold has been going up

with this very same narrative that people thought was sent bitcoin higher

you know bitcoin's digital capital so you know the thing that's a but

interesting about it is the most useful capital asset in the world you can

trade it with fifty x leverage in the far east on a on a sunday morning

that's the price you pay to have the highest performing capital asset so

bitcoins always going to be very volatile and it's going to be high

performance and

if you want to invest in it as capital investor you need to have a four to ten

year time horizon

if you don't have that four to ten year time horizon

then probably your better as a credit investor and what you want to do is hold

digital credit

like our strc instrument

i'm going to talk to about the strc in a minute obviously that's come under

some criticism as well but

i want to go back to do not have had some great conversations over the years

about

what bitcoin could do for the world

not just investors but how it could change the status of the world

particularly underprivileged folks in fact recently you reiterated if the

rest of the world knew what i know

micro strategies michael sailor you're saying that the microsoft your stock and

bitcoin

uh... you know will go to ten million

what is it that the world is missing what is the message that's uh... too many

people still don't understand

you know what the key to understand with bitcoin is digital capital means

property rights eight billion people

from the palm of your hand

so we've never in the history of the world had the ability to give wealth

in a portable

asset that you could move

uh... at the speed of light on a mobile phone or computer to computer

and uh... and most of the people in the world

six billion of them are more they don't have access to real estate in the united

states

as a store of value

so for them bitcoin is the closest thing to being able to move all of their assets

all of their wealth to the united states to the most secure place in the world

you also uh... in the past uh... said that united states itself should secure

millions of bitcoin

we do have a a crypto friendly administration

recently there i think maybe it's the banking industry there's been some

setbacks down in washington dc

what's your feelings uh... with respect to policy and maybe some of the

pressures on the on on on bitcoin right now

emanating from the fact that maybe you've heard a few speed bumps in dc

well you know that i mean the nation bottle ask about texas about california

bottle we see an a territory they're all very good investments

we think about greenland right now that's on the top of everybody's tongue

uh... what's pretty clear is that

you're going to want to be the leader in digital intelligence that's a i

and you're going to be the leader in digital assets

if uh... if the nation doesn't buy

most of the bitcoin network at the very least what we want is constructive

policies so that united states companies

by and united states investors by digital assets and that way the tax payers

and the nation benefits from their efforts

uh... at last read uh... micro strategies or or strategy

rather uh... had over seven hundred thousand bitcoin

uh... twenty two point eight percent uh... yield and fiscal year twenty twenty

five

are you still uh...

how profitable has the overall trade men

for investment the the companies a hundred times bigger than it was five years

the coach all's it's been an extraordinary achievement

the stocks up by a factor of ten without performed every mag seven company

except for indity uh...

so it's extremely profitable i think

i think the companies three acts the performance of the s and p and x over that

time frame so

we're very pleased with uh... with the bitcoin strategy this ship to uh... to the

strc variable rate the series a perpetual stretch prefer stock

uh... financial instrument

and and essentially you say the way you frame it from a high level point of

use effort decades investors have had to choose between two imperfect

options credit lower volatility principal protection but low yields

and equity higher per long term performance uh... deferred capital gains but

substantial volatility and drawdowns which of course

we're in a midst of right now

how does this threat that needle

the way to think about stretches we take the first eleven percent of the

bitcoin capital gain over time

we passed that through to the stretch investor in a cash monthly payment as a

return a capital dividend

so the credit investors getting double digit performance

they're getting deferred capital gains treatment

they're getting principal protection we over collateralize the instrument four

to five to one

so and they're getting very low volatility

uh... and

and that's a benefit to them that uh... it their choice if they want to be

credit investor would be

to buy corporate bonds which have a seventy basis point credit spread

and essence corporate bonds are to thirty year low credit spread and

junk bonds aren't that much better so

so uh... stretch gives you two to three times the cash flow of conventional credit

if you're credit investor and if you're an equity investor you don't have to

stomach the drawdowns and the volatility of equity you've got something which

is over collateralized and principal protected

is there a number on bitcoin on the downside that changes the dynamics uh...

that that you have to go back to the drawing board on this

now we're so over collateralized on this that we can weather bull markets

bear markets as long as we need to

you you you uh... you want said that if you if you had a lung uh... or kidney

sell it by bitcoin

that was about a hundred twenty thousand

i got one kidney left what i do with it

what i'd say is that if you can wait for ten years

bitcoins going to be the best capital asset if you've got a time horizon of

less than four years you want to buy stretch because it's digital credit

and it pays two to four acts the cash flow of any conventional credit

and you know if you want to get on the roller coaster and you want amplified

bitcoin then you would buy our equity but you got to be ready for an eighty-ball

asset with massive uh... drawdowns and and rallies has has the uh... has an

embrace of wall street help or hurt at this point

i think it's a tremendous benefit to the entire crypto economy

there are billions and billions of dollars of capital that's flowing into

the crypto economy into the bitcoin network

by wall street investors in the vehicles they care about

some of them have to buy public equity others need to buy derivatives and

options puts and calls the trade on regulated exchanges

a third class want to buy convertible bonds and they can't get exposure any

other way and now there's a fourth class of investors these digital credit

investors and they want to buy the preferred stock that's publicly listed

in liquid and if we did not for them a product like strc

they wouldn't be investing in anything related to bitcoin got about the forty

seconds ago uh... in a couple years ago there's a headline bitcoin saves the

world

on gresham's law uh... will bitcoin still save the world

look at the end of the day bitcoin represents the digital transformation of

capital it's it's wealth that you can move at the speed of light that you

can vibrate a million times a second that a billion a i's can talk to a billion

a i's about and it's empowering to everyone that believes in technology as a

way to live a better life

michael thanks a lot for coming on man uh... really appreciate you every time you

do and always wish we have more time thanks a lot

always a pleasure to say i'm here man