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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