Former Chairman, MicroStrategy
Saylor Talks Bitcoin & What's Coming Next - Michael Saylor Bitcoin For Corporations Conference 2026
Saylor Talks Bitcoin & What's Coming Next - Michael Saylor Bitcoin For Corporations Conference 2026 CHECK OUT OUR ...
About Michael Saylor
Michael Saylor, executive chairman of Strategy (formerly MicroStrategy), has been a prominent speaker at conferences including BTC Prague and Consensus in 2026, where he discussed Bitcoin's market performance and his company's financial strategy. Saylor stated that Bitcoin had "emerged as global digital capital" and described the current period as "the most exciting year in the history of Bitcoin." He addressed criticism over Strategy selling 32 Bitcoin during a market downturn, arguing that the company had "bought net 250,000 Bitcoin" and that the sale was part of a multivariate capital allocation model. Saylor characterized critics as "Twitter trolls" and said the company's actions were designed to support its digital credit product, STRC, which he described as a "passenger jet" compared to Bitcoin's "fighter jet" and MSTR's "rocket ship." Saylor has promoted digital credit as a key growth area, stating that "the real story here is digital credit is exploding" and that it could attract "trillions and trillions of dollars" onto the Bitcoin network. He argued that Bitcoin's traditional four-year cycle is "broken" and that demand is now driven by institutional adoption rather than supply dynamics. Saylor projected that Bitcoin could reach $7 million per coin, describing this outcome as "inevitable" if the asset captures a larger share of global capital. He also dismissed concerns about quantum computing as a threat to Bitcoin, calling it "a hypothetical problem that people imagine so that they can generate engagement on X."
Transcript (6 segments)
✨ AI-enhanced transcript with speaker attribution
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Interviewer0:00
Blockstream is a treasury company, correct?
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Michael Saylor0:03
BSTR, Bitcoin Standard Treasury, is a treasury company. Coming up for SPAC approval, we estimate about April. Depending on where the Bitcoin price is, if it holds at this level, that's actually to our advantage because we go out with a lower reference price and are able to buy more Bitcoin, making our way up the rung to probably number three in the global ranks of Bitcoin treasury companies by holdings.
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Interviewer0:28
What do you think the role is of the Bitcoin treasury companies and this burgeoning area in terms of how many have come onto the market recently and the decline in Bitcoin prices? Is there any correlation? It seems like that element of the story is a little bit different in terms of the decline that we're seeing this time around.
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Michael Saylor0:48
No, I think they are generally supportive for the Bitcoin price because for the most part they try to hold, buy and accumulate as MicroStrategy started some years ago now. They're effectively taking Bitcoin off the market. They're generally able to do that in more bullish environments faster, but even today they're buying Bitcoin.
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Narrator1:09
During a bear market, you still see building. We'll be taking a look at MicroStrategy, Bitcoin, and we'll get a take from Michael Saylor himself. Watch this video to the end. Getting straight into it. First update from Trading Shot. Bitcoin has formed the first alligator bearish cross, which has historically started the bear cycle's bottoming process. So if we look since 2015, every time we've seen the red and green line cross over the red, that's when the bottoming either has occurred already or starts the bottoming process every single time. This is a huge indication. Now, as you see back here in 2023, we actually went lower. So could we go lower? Is the bottom in yet? We could go a little bit lower, but this trend is right now your friend. Bitcoin recorded a pop today at 68.5K. What do we see? What do we anticipate? We're looking at Bitcoin on the daily chart. Why is this important? Because right now on the daily, we have not seen a bullish divergence. Right here, we see a lower low in the RSI. And this is par for the course looking at this since the peak. If we go all the way back here with a high, this was the bearish divergence right here that was happening. It kept happening. We put a higher high in. That's the ultimate peak. But what's been happening with these peaks since back here? We've been putting in lower highs and lower highs. So, could this just come back up and retest this level? And where would this take us up to? Can we go to the mid-70s or potentially all the way back up to 86,000? That could definitely be in the cards for Bitcoin. But right now, we would like to see something like this if we did have something come back up, but then come back down and put a bottoming pattern in where Bitcoin may put in a lower low, but the RSI puts a higher high in on the daily. And on the 3-day, we'd like to see similar price action. The higher time frames, the higher we go up, the more we would see this divergence before we are off to the races again. Are we out of the depths yet? Time will tell. You be the judge. But right now, it could just be a relief rally. Zooming into the price action, where are the levels to pay attention to? Right now, we see that this is acting as downwards resistance. We got back above this, came back down, and back tested this and had a pop. So, where will we go from here? Looking to the left of the charts, make this a little bit bigger. We can see the left of the charts. Another area to pay attention to that acted as major resistance back in 2014 was around this $72,000 range. So, if we get back above that, that is something to be noteworthy of. But if we just come back up and then come all the way back down to the 50 range, that could just be this relief rally. And this would give us this right here. This ABCDE or 1-2-3-4-5 that could play out in that capacity. So we are not out of the woods yet. Patience is key in this market. And MSTR, what do we see with MSTR? We see actually a good indication on the daily right here. We see that this actually seemed to have put in a little bit of a bullish divergence. Let's make this accurate. If we draw a horizontal down here, we can see that right here we had the price come and put in a lower low. But now we've seen that this put in a higher low. So this is a bullish divergence. So could we see a relief rally back up to these levels up here? This is a level to pay attention to. Bitcoin bros are marking this early. Pay attention to this level right here. Could we come all the way back up to almost $300 with this divergence that's showing into play? Will we get this continuation? Once again, we're not out of the woods yet because you see that this moving average line has acted as resistance as well. Right now, it's at 150. So, even though we've seen this divergence, look on the higher time frames. Could we be out of the depths yet for MSTR? We see this divergence right here on the 3-day as well. So that's something that definitely could be calling for a relief rally as well. And then let's look on the weekly to see what we see. Right now on the weekly, we did not see a divergence yet. So we are still below the moving average here. This is around 147. So that's a level to pay attention to right now. Could MicroStrategy just be getting ready to consolidate before gearing up for that next leg to the upside? Did you miss your optimal buying opportunity down here at 107? Or could we be going lower right now? Time is too hard to tell. Either way, Michael Saylor is talking at the Bitcoin for Corporations conference. Let's hear what he has to say about the capital asset.
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Michael Saylor6:40
And that takes us to the question of what's really going on here. The signal processing. Digital capital is highly volatile, growing at a rate. If you look at that chart, that orange line kind of looks like the Bitcoin price chart if you've looked at it over the past 10 years. It's doing this. The credit line is what most people want. People don't want to get rich suddenly in the distant future unexpectedly after a roller coaster ride. What they want is to get risk steadily with very low volatility, no anxiety. They don't want the fighter jet. They want the jumbo jet airliner and they want to recline in first class while they go to their destination. So digital credit is just stripping out that smooth 11% out of that very volatile 30%. Now where does the excess volatility go? Conservation of energy, conservation of volatility. So if you want to take a 30% roller coaster ride and strip it down to 11% jumbo jet luxury ride, then you have to put the volatility somewhere else. So what you can see is the excess volatility goes to common equity. And what I've just shown you is basically digital equity, digital capital, digital credit is a completely digital stack. It's changing every 15 seconds. In our case, the equity is MSTR. It's up 52% ARR. The capital is Bitcoin. We expect to be up 30%. The credit is the STRC. Now, what's the highest yield you can pay on digital credit? Well, if you expected 30% then you have to plug in the collateral coverage. What's the BTC rating? What's the duration? What's the volatility? Once you plug in your assumptions, what pops out is, well, in this case, I can pay 15% and still stay investment grade on that assumption set. You go up to 23% and you're still in high yield. But there is an envelope of dividends you can pay out or a dividend ratio you can pay out. That's just a function of the volatility and the performance of the underlying capital asset. So, what's this chart show? This chart shows if you're a skeptic and you think Bitcoin's going up zero, there's a very small amount of credit you can create and most of it is low dividend yielding and a little bit of it is 5 to 10% and a very small amount is more than 10%. If you think Bitcoin's going up 10% a year, like the S&P, you see you can issue a lot more credit and you can have a bit more flexibility on the dividends. As your view of the capital asset, whether it's gold or Bitcoin or real estate or the S&P or whatever, as your view of that improves, as you think it's going to improve over time, your ability to issue credit and higher yielding credit is enhanced. And you can see what's going on here. When if you're a bull and you think Bitcoin's going up 30% a year, you can see you can issue quite a lot of high yielding credit that is investment grade. That's the big idea here if you're staring at this. And of course, if you think about high yield, you're willing to accept a slightly higher risk instrument, then you can create a lot more credit. You can create exceptional amounts of credit if you think Bitcoin is going to appreciate faster than the S&P. And of course, if you're a Bitcoin bull, you can see you can issue monstrous amounts of credit, even 1x collateralized at this level. And so the amount of credit you can create is really a function of those variables. Now, how risky is STRC? Well, I put it on the chart. If you're a Bitcoin skeptic and you think Bitcoin's going up zero, it looks like distress debt. If you think Bitcoin's a 10% grower, it's almost high yield, kind of suboptimal high yield. But then as you start to have a better view of Bitcoin, it starts to float into the high yield. And then of course, if you're a Bitcoin bull, it's investment grade. And so what I've laid out here, we call the theory of digital credit, but really it's just the theory of asset-backed credit. You could do the same exercise with the S&P index, MAG7 stocks, Nvidia stock, gold, real estate. Now, why haven't people? Well, because the Investment Company Act of 1940 prevents you from levering or capitalizing a publicly traded company on equity, portfolio, or securities. So no one does this in the public market on securities. You'd have to go to gold or real estate and the performance in gold and real estate has just been not compelling enough to be worth the trouble. Bitcoin is the first time when you have a non-security asset which is outperforming the S&P where it's worth the trouble. And that takes us to the question of what's the performance of this stuff anyway?