Greg Dunbar

Last night’s CLARITY Act markup would unlock the next wave of Digital Capital, Digital Credit, and Digital Equity in the U.S. and globally — institutional validation for $BTC, a framework for $STRC -powered digital yield markets, and broader adoption of $MSTR.

Food for thought. Trump should buy America a seat at Saylor’s table. Donald Trump has already acknowledged that bitcoin is strategic. The next step is not simply to hold more of it, but to buy influence over the company turning bitcoin into a financial system. A 10% US government stake in Strategy would give Washington a position inside the most important private bitcoin balance sheet in the world, and a claim on the infrastructure being built around what may prove to be the sound money of the digital age. This is not nationalisation. It is strategic positioning. Strategy is no longer a software company with an eccentric treasury policy. It is a capital markets machine for accumulating bitcoin, funded through equity, converts, notes and preferred stock such as STRC. Saylor’s innovation is not just buying bitcoin. It is matching different classes of investors to different slices of the same trade, then using that demand to deepen his hold on the asset. His own framework clarifies the evolution: first the strategic holder, then the hybrid operator, finally the pure play issuer that raises capital chiefly to buy bitcoin and build bitcoin-backed credit markets. Strategy has already moved through all three phases. It began as a software company with a bitcoin hedge. It is now the prototype pure play issuer. That is why Saylor’s comparison of STRC’s 11.5 % payout to Amazon’s years of free shipping matters. Amazon accepted years of lower profits to build customer habit and logistics scale before AWS emerged as the real prize. Strategy is doing the financial equivalent, paying up for capital to create a bitcoin-backed credit network before competitors can replicate it. Today it is still accumulating. Tomorrow it will monetise the infrastructure beneath the accumulation. The right analogy is Amazon before AWS. Bezos started in retail, then poured capital into cloud infrastructure and sold the rails underneath the storefront. Saylor could do the same. The next stage of Strategy may not be endless coin accumulation, but a kind of Bitcoin AWS: repo markets, custody, collateral transformation, structured credit and settlement services built on top of a giant bitcoin reserve. This matters for more than crypto. A US stake in Strategy would strengthen king dollar, not weaken it. The likeliest future is not one in which bitcoin replaces the dollar, but one in which bitcoin underwrites a new hierarchy of dollar liabilities, stablecoins, tokenised deposits and regulated digital money issued by American institutions. If Washington wants to shape a Bretton Woods 2.0 for the digital age, it should want the reserve asset, the credit machine and the dollar layer anchored in the United States. That case is stronger now that Congress is moving towards a real market structure. The CLARITY Act would define digital assets more clearly and create firmer rules for trading venues, intermediaries and custody. Washington is no longer debating whether crypto should exist. It is deciding who will own the infrastructure, write the rules and capture the strategic rents. Nor would a federal stake be unprecedented. Alberta’s AIMCo already owns a large position in Strategy, while US state entities such as CalPERS and CalSTRS hold shares as an indirect bitcoin exposure. Trump has also shown he is willing to back national champions in strategic sectors, including chips, through support for Intel. If the US can justify a position in semiconductors to shore up technological sovereignty, it can justify a position in the emerging national champion of bitcoin reserves and credit. A 10 % federal stake in Strategy would give America influence without the trauma of takeover, and show that Washington understands the strategic asset is not just bitcoin itself, but the balance sheets being built on top of it.

Half Bitcoin, half Bitcoin Treasury Companies. It's on the website.

Imagine the candle when Korean retail finally rotates out of Hynix, Samsung, and Hanmi and comes back to Bitcoin It’s simply a matter of time

BREAKING: The U.S. Senate has advanced Kevin Warsh to become President Trump’s Chairman of the Federal Reserve.

@RayDalio Gold is analog capital. Bitcoin is digital capital. Transparency is a feature, not a bug, making $BTC suitable as global collateral. Since we adopted the Bitcoin Standard on Aug. 10, 2020, Bitcoin has outperformed gold with a higher Sharpe ratio.

JUST IN: @saylor sits down with CoinDesk's @btcjvs to discuss being the world’s largest Bitcoin buyer with $62B purchased and describe the convergence of TradFi and DeFi via their digital credit product Stretch (STRC), which has rapidly grown and helps fund Bitcoin accumulation. Here is the full conversation: 00:00 Biggest Bitcoin Buyer 00:12 Consensus Miami Buzz 01:12 Earnings Call Breakdown 03:01 Retiring Convertible Bonds 05:07 Yield First Decisions 08:25 Funding Dividends Options 09:29 Selling Bitcoin Impact 11:40 Buying the Top Critique 15:40 Transparency Not Trading 18:32 Tax Loss Harvesting Choices 22:15 Balancing Equity Credit BTC 25:55 Bear Market Stretch Engine 27:25 Europe Stream Lessons 30:46 UK Regulation Arbitrage 33:34 Stretch Dividends Timing 35:08 Macro Panic Explained 36:08 Monthly Issuance Whiplash 38:20 Why Stretch Trades Near Par 40:21 Growth Over Lower Rates 45:15 Sharpe Ratio Vision 46:44 Liquidity Drives Adoption 50:21 Credit Rating Not Required 54:44 DeFi Yield Coin Boom 55:59 Leverage Risk And Stress Tests 59:46 Perpetual Design Anti Bank Run 01:02:23 Let Traders Provide Liquidity 01:06:23 Institutional Views And Catalysts 01:11:50 Lindy Effect And Closing Thoughts

We're sitting down with @Saylor & @PhongLe for a Strategy Retail Investor Q&A hosted by @NatBrunell on May 13th at 5pm ET. strategy.com/press/strategy…

Two cents of volatility. $437M of liquidity. Closed at par. $STRC

Update: My Maserati now does 195

Shorts are turning long

JUST IN: 🇺🇸 Coinbase CEO Brian Armstrong is scheduled to speak to the Senate GOP on Wednesday ahead of a Thursday vote on Bitcoin & crypto market structure bill — Punchbowl News 👀

🇺🇸 NEW: American Bankers Association CEO Rob Nichols urged U.S. bank CEOs to oppose stablecoin yield provisions ahead of Thursday’s Senate markup of the CLARITY Act.

Buy Bitcoin. Buy Bitcoin.

🚨 IT'S OFFICIAL !!! Today the full Senate floor at 3:00pm votes on the confirmation of Kevin Warsh as the new Chairman of the Federal Reserve ⚡️⚡️⚡️ BULLISH AF FOR BITCOIN BULLISH AF FOR $AMERICA ( SOL ) 🇺🇸

UPDATE: 🇺🇸Ripple is officially inside the U.S. banking system pipeline. OCC conditional approval granted. If Ripple clears the final pre-opening requirements, it becomes a federally regulated U.S. trust bank!

THE CLARITY ACT IS OFFICIALLY HEADING TO MARKUP THIS THURSDAY 💥 THE WHITE HOUSE SAYS THEY WANT PRESIDENT TRUMP TO SIGN IT INTO LAW "BEFORE JULY 4TH" HERE WE GO! 🚀

BREAKING: 🇺🇸 American Bankers Association are desperately trying to stop the Bitcoin & crypto market structure bill, Senator Bernie Moreno reveals. "The banking cartel is in full panic mode," and are demanding bank CEOs "to lobby Senators and kill stablecoins" 🤯

BREAKING: 🇺🇸 US SENATE JUST ANNOUNCED FIRST VOTE FOR FED CHAIR KEVIN WARSH WILL BE DONE TODAY A PRO BITCOIN FED CHAIR IS COMING 🚀

JUST IN: 73% chance of crypto market structure bill becoming law before 2027, per Kalshi traders.