Michael Saylor on Bitcoin as risk-free rate
From Bitcoin to $13 million? Michael Saylor Drops a Bombshell on PBD! · · The Bitcoin School
“The 29% ARR is the risk-free cost of capital in the crypto economy. And the way you get to that number is Bitcoin's been going up about 55 or 60% a year for the past four years.”
On , Michael Saylor, Former Chairman at MicroStrategy, spoke about Bitcoin as risk-free rate during Bitcoin to $13 million? Michael Saylor Drops a Bombshell on PBD! on The Bitcoin School.
About Michael Saylor
Michael Saylor, executive chairman of Strategy (formerly MicroStrategy), has stated that the traditional four-year Bitcoin cycle is "broken," arguing that price action is now driven by institutional demand rather than supply-side halving events. He has described Bitcoin as "going up forever" and predicted the asset could reach $21 million per coin in 21 years. Saylor said Strategy found a bottom for Bitcoin at $60,000 and expects a rally into a "crypto spring." He has also said the company will continue buying Bitcoin at any price level, stating he is "happy to buy at 60,000, 80,000, 120,000, 200,000, 500,000, a million, 2 million, 4 million, 8 million, 16 million." Saylor has focused on promoting Strategy's digital credit product STRC (Stretch), which he described as a "passenger jet" compared to Bitcoin's "fighter jet" and MSTR's "rocket ship." He said the product has grown from zero to $10.5 billion outstanding in 10 months and pays an 11.5% dividend. Saylor acknowledged that Strategy may sell some Bitcoin to fund STRC dividends, a departure from his previous "never sell your Bitcoin" stance, but emphasized the company would buy 10 to 20 times more Bitcoin than it sells. He stated that the company's primary key performance indicator is keeping STRC stable at par, and that Strategy's goal is to increase Bitcoin per share through a mix of equity, credit, cash, and occasional Bitcoin sales.