Crypto evangelist Michael Saylor has transformed Strategy from a loss-making software company into the world's largest corporate holder of bitcoin. The FT unpacks what some investors have dubbed Saylor's 'infinite money glitch', and questions whether it can survive a crypto crash
#michaelsaylor #Strategy #Bitcoin #Crypto
00:00 - Introduction
02:24 - The FT stock-picking blunder
03:59 - The bitcoin proxy explained
06:23 - Trump-inspired bitcoin bull market
07:27 - Premium to net asset value explained
08:41 - Buying on the rip
10:45 - Accretion not dilution
12:34 - The infinite money glitch
14:55 - Reasons for and against bitcoin
17:53 - Tariff-inspired bitcoin dip
18:35 - FTX and the recovery
19:51 - Strategy's long-term debt and liquidity
20:55 - New products, new money
23:01 - The leap of faith
26:04 - The upshot
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#michaelsaylor #Strategy #Bitcoin #Crypto
00:00 - Introduction
02:24 - The FT stock-picking blunder
03:59 - The bitcoin proxy explained
06:23 - Trump-inspired bitcoin bull market
07:27 - Premium to net asset value explained
08:41 - Buying on the rip
10:45 - Accretion not dilution
12:34 - The infinite money glitch
14:55 - Reasons for and against bitcoin
17:53 - Tariff-inspired bitcoin dip
18:35 - FTX and the recovery
19:51 - Strategy's long-term debt and liquidity
20:55 - New products, new money
23:01 - The leap of faith
26:04 - The upshot
► Enjoying FT content? Get a daily slice of the very best FT journalism with FT Edit. Free for 30 days then just £4.99 a month
See if you get the FT for free as a student (http://ft.com/schoolsarefree) or start a £1 trial: https://subs.ft.com/spa3_trial?segmen....
► Check out our Community tab for more stories:
/ @financialtimes ► Listen to our podcasts: https://www.ft.com/podcasts
► Follow us on Instagram:
/ financialtimes ► Follow us on Instagram:
/ financialtimes