Michael
@Saylor believes Bitcoin can 500x.
The more interesting question is how.
At
@BTCPrague, we discuss whether Bitcoin’s path forward is driven primarily by adoption and savings, or by capital flowing in through global credit markets.
We also tackle mNAV, concerns around dilution, and Bitcoin per share.
TIMESTAMPS:
00:00 Why Michael Saylor calls this the most exciting year in Bitcoin history
2:34 Setting the record straight: why Strategy sold 32 Bitcoin
3:55 How Strategy works like a reserve bank built on Bitcoin
6:58 How the company turns Bitcoin gains into payouts - without the tax hit
9:12 Answering the short sellers
11:40 Why a better credit rating could put Strategy in the S&P 500
13:27 Saylor responds to his critics on X
14:47 The constant balancing act: chasing growth without taking on too much risk
16:22 The balance sheet explained: what the company actually owes
20:56 What “digital credit” really means, in plain terms
24:06 What it really costs to raise money
27:31 The trade-off: more Bitcoin per share vs. more risk
41:07 Why idealism alone won’t get Bitcoin there - but big money can
49:42 The “AI summer” pulling money away and when it flows back to Bitcoin