MSTR Stock Explodes | Michael Saylor's Bold Bitcoin Bet

**SPEAKER_1** (0:00)
Hey babes, it's Paris Hilton. So I was checking my points balance in the Hilton Honors app the other day, and yeah, I've got about a billion, which feels excessive, even for me. Just kidding, you can never have too many Hilton Honors points. And I wanna do something iconic this summer, so I'm giving away all my Paris points. Just find somewhere you've always wanted to stay, then go to my socials or Hilton's and tell me about it. Just make sure you're a Hilton Honors member, and I might be sending you Paris points, because when you want points that make your summer even hotter, it matters where you stay.

**SPEAKER_2** (0:30)
This episode is brought to you by Accenture. When you're advertising operations fall out of sync, everything else follows. Spotify and Accenture are working together to reinvent the rhythm of ad sales. Using automation, analytics, and smarter workflows to simplify campaign delivery and access better data across the business. The result? Less time spent on operations, more time connecting brands with the moments and fandoms that matter most. Learn more at accenture.com/spotify.

**John Lee Dumas** (1:01)
Welcome to MSTR Today and the Treasury Titans. It's Tuesday, it's July 28th, it's JLD, and nothing in this video is financial advice. And Michael Saylor wants us to know, it's Bitcoin forever, literally forever. And he also wants us to know that Bitcoin's core design is set in stone. Protocol changes should be rare, conservative, and driven by necessity, not ambition. Don't fix what isn't broken. And that's where Michael Saylor loves his iotrogenic phrase of trying to do something good, but actually causing a whole heck of a lot of pain and agony.
Don't do that. Michael Saylor says, BIP 110 is the latest outbreak of the, quote, I just heard about Bitcoin and I'm here to fix it syndrome. I mean, could you be more ignorant if you're an individual who's just recently heard about Bitcoin and you're here to fix it? I literally have a hard time picturing people I like less in this world, if I'm being honest. Pio says, Bitcoin's price is going down so much. It's arguably one of the coolest features it has. You can buy a crap load during those periods without worrying. Then time goes by and it's worth way more than when you bought it. Pretty cool. I got to agree, Pio. It is pretty cool. Jeff says, an educated guess. As stretch goes back to par, proceeds from new capital raise on stretch will be used to retire convertible bonds and buy Bitcoin. This is efficient refinancing, aligning senior holders with the credit quality of the company, reducing and eliminating maturity risk. Getting stretch back to par is the number one goal and buybacks help. I actually asked Jeff what his thoughts are on using stretch capital to retire to the other prefs to simplify the playbook, like another great company that I know, and that was a little nod to Strive having a very clean, simple, and beautiful capital stack. Mark says, how stretch gets back to par? One, a sizable USC reserve, three years of dividend coverage. We'll see if Michael Saylor and Strategy agrees that three years is the number. Right now, it's 2.1. Two, a recovery in Bitcoin back above the 60Ks. Absolutely. We're talking about really back above the 80Ks, I think, is what we need.
Three is time, and Mark says, I don't think raising the dividend will help. And, you know, 12% feels really good.
I was calling for 12% for many, many, many months, leading up to them finally raising it to 12%.
I also don't think the dividend being raised more is what's going to flip this. I think it is going to be, honestly, really Bitcoin going back above the 80s. That's what we really need. And then I actually also added buybacks in size, because I do think that buybacks in size is going to signal to the market that's, you know, short, shorters, you know, be aware, look out. Mark says, stretch closed at 88.32 today. It's highest close since June 16th, which is well over a month and a half ago. The market is responding well to the 3.75 billion USD Reserve and the potential for more stretch buybacks. But 88.32 is still well below par. Getting stretched back to par may require increase in the USD Reserve to roughly three years of dividend coverage and it will likely require MSTR to raise to 1.55 billion, bringing the USD Reserve to 5.3 billion. And listen, they could do this in about three weeks, four weeks max, based on what they've been doing recently. At the end of the day though, it's going to all depend, as I just mentioned earlier on, when are we going to start having Bitcoin run towards 80? Pio says, crypto guys on here act like every move Michael Saylor makes for MSTR is so high stakes. Dude, they own 840,000 Bitcoin. That was the high stakes part. Minor adjustments to strategy week over week is not a big deal. Bitcoin's price is down. Wait till it goes back up again. LOL. And that's where so many people are just missing the trees through the forest or whatever that phrase is.