MSTR Today: Bitcoin's Future Just Changed | Strategy's New Position Explained by Michael Saylor

0:00America leads the world in medicine development. It matters. We get new medicines first nearly three years faster. Five million Americans go to work because we make medicines here at home and not relying on other countries keeps us safe. But China is racing to overtake us. Will we let them or will we choose to stay ahead? When America leads, America cures. Let's tell Washington to keep us in the lead. Learn how at americancures.com. Pay for by Farma. This episode is brought to you by Indeed. Stop waiting around for the perfect candidate. Instead, use Indeed sponsor jobs to find the right people with the right skills fast. It's a simple way to make sure your listing is the first candidate see. According to Indeed data, sponsor jobs have four times more applicants than non-sponsored jobs. So go build your dream team today. With Indeed, get a $75 sponsor job credit at Indeed.com slash podcast terms and conditions apply. It's it's March 9th JLD here and welcome to MSTR

1:03today in the treasury Titans. Nothing in this video is financial advice. And I just want to start up by saying what a monster acquisition, what a monster by what a monster week the strategy just put in and I'm just going to say it. I think another monster week's coming in definitely for stretch. We'll see where the Bitcoin price action goes with the whole international events that are happening right now around the globe. But man, Michael Cielo wants us to know that strategy has acquired 17,000 nine hundred in 94 Bitcoin for 1.28 billion at 70,946 per Bitcoin as of 3.8 2026. We had all 738,731 Bitcoin acquired for 56 dollar 56 billion sorry at 75,862 per Bitcoin. Absolutely monster by. I mean, everybody was yelling at me for being bullish when I said 11356 and that was my number. I just had a feeling he was going to be hitting the MSTR ATM hard that

2:10day that Bitcoin pumped from like 66 to 74. I'm like, oh, Michael Cielo is going to take advantage of that day. Oh, did he take advantage of that day? It was absolutely monstrous. So many people commented, great guesses. The guesses were pretty much anywhere from like four and 5,000 to 12 to 13,000. I think 13,000 was maybe the highest I saw in my comments. But everybody was too bearish. Every single person was too bearish. There wasn't a single person in my comment section and a lot of people guessed that had it over 13,000 like 300 or something. So not even close. Everybody was too bearish. Nobody was bullish enough and fondly wants us to know that stretching before and after training tends to improve performance. I'm going to read into this right now. I actually hadn't thought about this until right now. But fondly, he might just be being cute by saying stretching before and after training tends to improve performance. But I'm going to go out here on the limb and say that there's a double meaning here, a little double and tendra, so to speak.

3:14There's massive volume in the pre markets, not as much in the post markets. But in the pre markets, there's massive volume for stretch. Like right now, there's been over 400,000 shares and the in the pre markets, which is a huge number, absolutely massive. And so what I'm wondering is a lot of people have been actually not really many people have been talking about it. But I've been asking the question of can they ATM in the pre market and the post market? And is this maybe fonds way of saying yes, stretching before and after training tends to improve performance? Like what's training? Training's market hours. Of course, we know they're ATMing then. But before and after training, is that the pre market and the post market? I could be looking too far into this. Who knows? Obviously, the real meaningful juicy volume happens during the market. So that's what matters. But is finally trying to tell us something. I'm going to maybe comment here. And I'll do this later, actually, and we can go from there. But I just wonder. I wonder, I'm going to

4:17comment and see if that's what he means. Well, we'll find out. Okay, let's go back here to Adam. Adam says, strategy out here raising 256 million per day in a Bitcoin bear market. And I think this is the key words we need to focus on here in a Bitcoin bear market. Okay, this is a Bitcoin bear market. 200 basic million per day. What do you think is going to happen during a bull market? You are not bullish enough. James says, MSR acquired fewer than 10,000 Bitcoin throughout the entirety of the 2022 bear market. Think about that. That was two years into their strategy, two years into it. And for the whole year, yes, it was a gross bear market. But for the whole year, they acquired less than 10,000 Bitcoin. They just acquired 17 basically 18,000 Bitcoin. Okay, let's just call it 18,000. That's insane. 18,000 for one week. And they're going to do it again, this coming week. I mean, definitely with stretch. I'm going to just go out there and say the stretches. I'm going to go out there and say right now, stretch is going to be north of 7,500

5:22Bitcoin this week. That's my guess. I'm going to go out there right now this early on. So this is an early guess, 7,500 Bitcoin just with stretch. If Bitcoin sentiment turns around and we have some things where Bitcoin gets back over 70,000, maybe goes on another little run to 72, 74, 76, we're going to have 20,000 Bitcoin a week end of story, period, maybe 25,000. So let's not get ahead of ourselves because we don't know what the week is going to bring, but I think it's going to be a huge week for stretch because this is the last week before the snapshots. But who knows? I mean, maybe a lot of people were pumping it in last week just to be safer than sorry, but I think this week's going to be huge. So hang on to your seats. Joe says digital credit has archa has achieved product market fits. Now it's time to begin scaling toward the TAM total dress market of the global fixed income market, which is 300 trillion plus as it reprices all assets around the long-term hurdle rates of Bitcoin or the short-term hurdle rates of digital credit and sanity. And Mark wants us to know that MSR is very close

6:23to surpassing Ibit and Bitcoin holdings. Look at this. It closed the gap at a massive level because I bit only added what is that 3000 and Bitcoin added a lot more than that. So we are just on a collision course. Let's go. And Ragnar says in just like that strategy eliminated another basically 18,000 whole coiners. My estimate of 10,000 Bitcoin ended up being too bearish. Well, don't worry Ragnar. I was 11,356. I was too bearish. Some naysayers in the comments were even doubting 10,000 level and strategy blew them out of the water. Stretch ended up monetizing 48.5% of the volume estimate was 43%, which is incredible. Adding 5,315 Bitcoin from it alone. That's just one week. Again, I think it's going to be over 7,500 this week. We'll say in total strategy casually raised 1.28 billion last week. Their implication ratio is 34% and they hold two plus years of dividend coverage and cash. The future is incredibly bright for those who want to send the Bitcoin Treasury company model bullish on sale are bullish on Bitcoin. And I will just say

7:26diddo diddo MSR holds 738,731 Bitcoin. That's 3.7% of the circulating supply. Look at this growth Qtd. Let's go. Oh, man, we're accelerating. We are accelerating. It's going to be a big acceleration quarter. Dan says a good goal could be 100 billion of stretch sold per day. That would be amazing. As you can see, they did not quite that maybe like 80 per day, something like that 80 times 5. So maybe you like 75 per day. So let's get to 100. Let's get to 100. Let's do it. Okay. Mark says another huge day for stretch pre mark of volume. This is what I was talking about. Look at this. Already 378,000 before hours volume. Absolute monstrous. I hope through HM that will say 18,000 Bitcoin in a week in a bear market 377 million raised on stretch 899 on MSTR. Let's flip and go. Jeff says higher or may says strategy bought 18,000 Bitcoin last week and only needs 261 to 69 to get to 1 million Bitcoin years today. MSR has purchased an average

8:31of 6,623 Bitcoin per week. And look at this. This is what we need to get to the goal. We're actually below what we need for what we've been averaging so far. So let's go. MSR bought another 18,000 Bitcoin now hold 738 731 or 3.43% of the total Bitcoin supply. And then this is how they did it. It's very impressive stuff. I love this chart that Chris always shares of the weekly ATM proceeds. You can see stretch was a monster. Look at this blue line. I mean such an absolute monster. And you can see they're not even using the other press. I mean these press have just become a pure afterthoughts. They're going to be in price discovery because every three months you get paid for three months by just holding for one or two days. So that's always going to be an arbitrage there. So we'll see how that plays out. And then of course the MSR proceeds was quite large. Nothing from what we were seeing for a few weeks in December in January. But it's been a bear

9:33market. So what's going to happen when the bear market turns around? Zinc says so much is happening in the world right now. But for Bitcoin nothing's changing. Markets are volatile. But Bitcoin is relatively calm. It appears to have front run the disruptions. There are now only one million Bitcoin left to be mined over the next 14 years. Stay focused. And that was actually a big announcement that came over the weekends. We are down to one million Bitcoin left to be mined. We have crossed over the 20 million mind to Bitcoin number crazy times. James says when markets stop going down on bad news, that's one bottoms four. And I got to say at least when I'm recording this, Bitcoin's over 68,000, just barely, but it's barely over 68,000. So it's going to be probably somewhere around there. When you listen to this or who knows, maybe something happens in it kind of pumps either way up or down. We'll say time will tell Dylan says, war the basis currencies freezes capital closes borders and levels physical assets. The question every conflict forces on capital holders is ancient. The answer for the first time is new. What's that answer? Well, of course, we know the

10:34answer is Bitcoin. The Bitcoin teacher says retail waits for 40k institutions by 60k right now. Then retail buys 100k after big money gets cheap sats. A tail is oldest time by Bitcoin today. And Bitcoin teacher says we're currently in a massive bipartisan. Would you be proud of of your stacking if it ran to 500k tomorrow? The answer for me is yes. I would be very proud of myself. Or say you wish you cut back at the all-time high stock buys and stacked more Bitcoin. And this is in response to Plan B's Bitcoin at 67k, but the stock to flow model screens 500k average of the cycle 2024 to 28, 2028 is Bitcoin massing undervalued in the ultimate buyer opportunity or is stock to flow broken? What's your take? Bull or bust? I'm bull. CJ says we transform the Bitcoin signal into one stretch pure yield, which is digital credit. And MSCR amplified Bitcoin digital equity. So here we are digital credit flatlined digital capital 30% digital equity. Give me that all day long. Give me that. Give me that. And that right there is where

11:42we're going to hold off because we had a lot going on today. I mean, absolutely monster by Michael Sailor by strategy. Stretch is humming. I can't wait to see where we're at this coming week. It's going to be crazy times. I think stretch is going to get over 7,500. Although, you know, time will tell. The Friday may be a little weak. It could be because I think that some people will all want it to be in their positions by that point. So we'll say time will tell. But either way, I'm very bullish on where we are at right now. The fact that the market sentiment is such in the dumper. The fact that extreme fear is just the reality for Bitcoin right now. And the fact that we have these global conflicts going on around the world. And we have stretch by over 5,000 Bitcoin a one week. Absolute insanity. It's working. Wait for the bull market because it's going to absolutely blow people's mind away when it when it comes. I have a great clip from Michael

12:44Sailor. So sit back, relax and enjoy. If you're building in the Bitcoin era, structure matters, treasury strategy, capital allocation, entity structure, it all starts with a solid foundation. And when you're ready to form your business the right way, Northwest registered agent helps you do more than just file paperwork. With Northwest, you don't just create an LLC. You build a complete business identity from day one. That means registered agent service, a real business address, operating agreements, domain website, professional email, phone number and built in privacy. No juggling vendors, no sketchy upsells, no selling your data. They've been doing this for nearly 30 years and they're the largest registered agent and LLC service in the US with over 1500 corporate guides, real humans who know your local laws and actually pick up the phone. Northwest handles everything in house, which means fewer hands on your data and privacy by defaults for every customer. Don't pay hundreds or thousands of dollars for what you can get from Northwest for free. Visit Northwestregardagent.com slash JLD free and start using free resources to build

13:47something amazing. Get more with Northwest registered agents at Northwestregardagent.com slash JLD free. Well, you always say that volatility is vitality. So do you worry that your projections of Bitcoin 40% ARR could be changing and diminishing or are your bare bull and base cases pretty similar for the next 10 to 15 years? I look at 21 years and I expect about 29% ARR over the next 21 years. I've always thought that we would have rallies and draw downs. I see it as a serpentine pattern where it's just slightly less than 30% over time but there'll be periods when it will surge and there'll be periods when it will draw down. That doesn't change. I think if you listen to

14:48people someone will say, well, this weekend there might be some problem in Iran or in the Middle East and if there is a problem in the Middle East and if the US does something with regard to Iran then Bitcoin is the only thing you can sell and then Bitcoin price may crash and we're worried about it. I'll say, well, you know if something happens in the Middle East Bitcoin will be the only thing you can sell. It'll also be the only thing you can buy and so that just means that a lot of people that want to trade on the weekend are transferring capital to crypto exchanges so that they can either buy or sell or sell by sell and buy Bitcoin four times between Friday at 4 p.m. and Monday morning at 9.30 a.m. and yeah, if you're a trader, what does that make this? It makes it the most interesting asset in the world for you. If you're an investor over four years, what the heck difference does it make? Whether or not it gets bought, sold, bought and sold this weekend? In fact, here's the difference it makes. There's capital hot money that's flowing into this ecosystem

15:56into the Bitcoin ecosystem that otherwise would not be allocated, right? There's a trader. Someone's got $20 billion a capital and their choice is they can either leave it in the bank earning so far or they can put it into the crypto exchange system and they can buy and sell and buy and sell and maybe they'll make 4% this weekend, right? When Bitcoin crashes by 5%, there's someone buying while there's someone selling. So people are like, oh, it fell 5%. Well, someone, someone woke up at 4 a.m. on a Sunday morning to buy it at a 5% discount. So someone's going to actually make more money on the weekend than they would make holding conventional money for a year. And that capital is not flowing in a New York City real estate. It is not flowing into gold. It is not flowing into conventional derivatives. It's not flowing into NVIDIA stock. It's not flowing into Albus stock. Why? Because you're not buying and you're not panic selling and rage

17:00quitting and buying and capitulating and leaping into the market on these volatility waves. Bitcoin is most volatile because it's most useful. In the US, there's things like REG-T where you can't have more than 2x leverage. We have laws that prevent you from going to more than 2x leverage. Well, there's no such law in nature. In nature, they don't have those laws. You see one centipede and then you see 10,000 ants and it's like 10,000 to one and it doesn't seem quite fair. There's nothing fair about nature. If you want to gang up 10,000 to one on the centipede, you get to do it. Just like, if you want to trade Bitcoin 50x and cross collateralize it to another yo-yo token, which is 10x and you want to create a 500x machine, you can do it. There's no one stopping you from doing it. Is it wise? Well, maybe 99 out of 100 times, it isn't wise. You get wiped out.

18:04But the point is, if that's the case, the people that do stupid things get wiped out. And then in a year, they won't be doing it anymore. Will they? What's the second best? There is no second best. There is no second best. There is no second best. There is no second best.