BigBuck

Strategy has completed the repurchase of $1.5 billion of its 2029 Convertible Notes at an ~8% discount to par, generating an incremental 0.7% BTC Yield and lowering aggregate debt to $6.7 billion. $MSTR $STRC strategy.com/press/strategy…

Some are saying this is the best Saylor interview in years 👀

@n_karklinz @IvoButkevics Nav nekāda problēma pirkt vācijā.ir kantori kas to dara par saprātīgām cenām. Un izvēle daudz lielāka.

@IvoButkevics Kulbergs izlobēja, ka naudu dod pardevējam, nevis pircējam. Ja naudu dotu pircējam, varetu pirkt Igaunijā, Vācijā, jebkur un cenas neceltos.

Kurš gan ko to tādu varēja paredzēt... :) Bet labi, vēlreiz. Ir tādas divas līknes. Viena pieprasījumam, otra piedāvājumam. Mijiedarbībā veidojas cena. Klimata ministrija nostimulē pieprasījumu, un tagad skrien pie KP un PTAC, jo notika tas, kam loģiski vajadzēja notikt. Proti, tirgū pacēlās cenas. BĒRNI, MĀCIETIES EKONOMIKU!

The most interesting story in Bitcoin right now is the rise of $SATA in the credit markets and the embrace of $ASST by the equity capital markets.

E172: @Saylor: Why Hard Work Won't Make You Rich Michael Saylor is the chairman of @Strategy - the world's largest corporate holder of Bitcoin with over 840,000 BTC and $65+ billion deployed. He bought his first Bitcoin in 2020 when the Fed cut rates to zero hasn't stopped since. With WSH, I always want to go much deeper than the current narrative and that’s exactly what we did here. We gradually moved past the surface and into the things that really shaped Michael. We talked about his childhood, growing up in a military family, buying domain names in the 1990s and flipping them for tens of millions, losing $6 billion of his net worth in a single day during the dot-com bubble, his great Apple bet in 2012, why working hard won't make you rich, why you should mortgage your house but probably not sell your kidney to buy BTC, why "THERE IS NO SECOND BEST", and a lot more. The conversation lasted more than two hours, much longer than originally planned, and it was just amazing. I hope you enjoy it as much as I did. Timestamps: 00:00 - Intro 03:05 - Explain what you do to an Uber driver 05:35 - Advice for Rick, the struggling Uber driver 07:07 - Who is Michael Saylor? 11:02 - Sponsors @Trezor & @Bitwise 11:48 - Kevin's Business Intelligence Company 13:14 - Michael's childhood and chip on the shoulder 17:56 - Has Michael conquered the world yet? 19:49 - Just because you can, doesn't mean you should 28:23 - Sponsors @KASTxyz & @sumsub 30:02 - Low time preference and scarcity 43:50 - Buying and flipping domain names for tens of millions 55:11 - Bitcoin is a lifeboat 1:01:31 - Should you mortage your house to buy Bitcoin? 1:09:50 - The great $60B in Bitcoin bet: risks 1:15:32 - Sponsors @JupiterExchange , @ethena 1:16:16 - Sell the kidney if you must but keep the Bitcoin 1:20:14 - What's the endgame for Strategy? 1:28:16 - Where does Bitcoin price end? 1:29:36 - Where would Bitcoin price be without Michael Saylor? 1:31:06 - What is STRC? 1:35:34 - Should my mom put her life savings in STRC? 1:37:12 - How do you always invent new ways to buy more Bitcoin? 1:49:19 - From God to Madman every 6 months: handling insane volatility 1:51:49 - How Michael lost $6 Billion of his net worth in one single day in 2000 and then watched MSTR go down another 99% 1:59:09 - Why Michael doesn't have children 1:59:44 - Why working hard is the worst advice you can get 2:07:37 - Why THERE IS NO SECOND BEST, there is only one crypto asset 2:15:03 - Thanking Michael from the whole crypto industry

Michael Saylor & Phong Le just addressed the biggest questions investors are asking: - Will Strategy sell Bitcoin soon? - Why move to semi-monthly dividends with $STRC (is daily next?) - What’s the endgame with $MSTR & Digital Credit Full raw Q&A with @saylor & @phongle — unfiltered. Share your thoughts on their responses below. Timestamps: 00:00 Introduction 03:22 Will Strategy Sell Bitcoin? 06:05 STRC ROC Tax Question 07:06 Saylor on Strive & $SATA 13:02 Future of STRC Dividends 16:41 Will Strategy Slow Buying Btc? 19:00 The $100 Peg 21:57 STRC, DeFi & Fragility 27:17 Why Is Bitcoin Stuck? 30:00 Monthly $STRK, $STRD, $STRF Dividends 31:38 Retiring Preferred Stock 35:06 Fixed 10% Yield 35:52 Scaling STRC 39:44 Winning Over Skeptics 42:58 Understanding MNAV Calculations 45:03 “Rip the Wings Off Shorts” 52:11 Ultimate STRC Product 59:52 Strategy at $10M Bitcoin 1:00:55 BTC Yield Metric 1:01:45 Custody & Proof of Reserves 1:03:58 Strategy as Investor Gateway 1:06:06 Teaching the Next Generation 1:08:12 Bitcoin’s Place in History

This morning on CNBC, I discussed the case for Digital Credit $STRC, its impact on $MSTR, and my long-term $BTC forecast with @JoeSquawk.

Strategy has acquired 24,869 BTC for ~$2.01 billion at ~$80,985 per bitcoin and has achieved BTC Yield of 12.6% YTD 2026. As of 5/17/2026, we hodl 843,738 $BTC acquired for ~$63.87 billion at ~$75,700 per bitcoin. $MSTR $STRC strategy.com/press/strategy…

Strategy to repurchase $1.5 billion principal amount of 2029 convertible notes. $MSTR $STRC strategy.com/press/strategy…

Tomorrow, @Strive will ring the opening bell at @Nasdaq to commemorate $SATA, the first security in history to pay daily dividends.   Until then, turn the volume up.   The Daily Dividend Remix.

We are also pleased to announce that @Strive is now DEBT FREE. We have retired the remaining legacy $10M convertible bond. @Strive is the FIRST publicly traded company with a Bitcoin-backed perpetual preferred ONLY amplification balance sheet.

@ColeMacro @Strive Impressive. Congrats to the entire @Strive team.

$SATA Updates: - First security in history to pay daily dividends - Beginning 6/16/26, pays on business days, ~250x per year - APR maintained at 13% through June '26 @Strive now holds 15,009 Bitcoin (~$1.2B) with zero debt & $ASST is the only BTCTC w/ pref only amplification.

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

"I believe in math over ideology." Thanks @KellyCNBC and @steveliesman.

“Saylor is paying 11.5% on STRC dividends and the SATA guys are paying 13%? There’s no way Bitcoin goes up enough to pay that!” lol ok:

The earnings call for @strategy explicitly stated a shift in Strategy and it could be awesome. TL;DR -> Sell High Cost Bitcoin, Book Taxable Loss, Use $4B to buy back $MSTR and Converts, boost share price and mNAV, crush shorts. GAAP volatility ≠ taxable event Realized BTC sales = taxable event Previously, Strategy could show huge GAAP gains/losses from fair-value accounting without necessarily triggering CAMT because unrealized appreciation alone does not create taxable income in the same way as realized gains from selling BTC. Now, if they sell high-cost-basis BTC first (FIFO/HIFO strategy matters), they can intentionally realize losses. Sell 50,000 BTC at ~$80K = ~$4B proceeds If average basis was ~$100K+, they realize roughly ~$1B+ actual capital loss That realized loss becomes economically valuable because it can: Offset realized gains elsewhere Reduce future CAMT exposure Create tax assets / shield future taxable income Free up billions in liquidity without increasing leverage Then the important second step: They can redeploy the cash into higher BPS-accretive actions. Buy back undervalued MSTR (if mNAV low) Retire low-conversion-price converts Fund dividends / USD reserves Reduce float and future dilution So the realized loss itself is not “good” because EPS changes. EPS alone doesn’t mechanically help the stock. The value comes from: converting high-cost BTC into liquidity + tax assets + denominator reduction. That is the shift. $MSTR $STRC BTC is no longer treated as untouchable inventory. It’s becoming an actively managed capital allocation asset optimized around Bitcoin per share, float control, taxes, and capital structure.

Strategy announces Q1 2026 results: - 818,334 $BTC held - 9.4% BTC Yield achieved YTD 2026 - $STRC scaled to $8.5 billion in 9 months - Largest US equity issuer, raised $11.6 billion YTD 2026 strategy.com/press/strategy…

Join us tomorrow, May 5 at 5:00 PM ET for our Q1 2026 Earnings Call. We’ll discuss our Q1 financial results, the continued evolution of Digital Credit, and our capital markets strategy. We will also host a live Q&A, with guests to be announced soon. $MSTR $STRC

This is the moment the Model 3’s battery unmounts from the car. All this happens very quickly. After removing ~35 bolts, the pack drops. Next, an LFP pack will be installed into this 2019 Model 3 with 381K miles. It’s pretty incredible how fast a swap takes. @Drive_Protected