You Won't BELIEVE What Michael Saylor Just DID!!! | EP 1551

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Michael Saylor had made this Monday a very different one. We're used to waking up on Monday morning and seeing Michael Saylor buy more Bitcoin, but today, he decided to raise another $225 million of cash and didn't buy any Bitcoin. And this is the second week in a row that he hasn't bought more Bitcoin, but the price of Bitcoin is still grinding higher. But that's not the only reason this Monday is a little bit different. Michael, over the weekend, also weighed in on the potential attack on Bitcoin, which we will discuss more in a minute. But let's start with the news that everyone will be talking about, which is, of course, why isn't Saylor buying more Bitcoin? I think everyone's watching what's going on. It's like, OK, this is actually the the the to me, the funniest kind of take on all this is like, Saylor buys a full clip of Bitcoin at the very top and at the bottom of the bear market, he's buying dollars. I think he's doing it wrong. That's what most people are saying on Twitter that I kind of agree with here. But again, he's playing a different game than everyone else. What you should be doing is the opposite. You should probably, you know, have some cash on hand when Bitcoin gets a little toppy around all time highs. And then, so you can buy more Bitcoin in this discount. That's what you want to be doing. But Saylor's doing the opposite. Now, why is he doing this is probably the bigger question. You already know why. It is for the stretch product, it is for MSTR. So here is the announcement. Strategy increased its dollar reserves by 225 million as of 7-19-2026. So yesterday, they hold 843,775 Bitcoin in their Bitcoin reserve, and now $3.2 billion in their USD reserve. You know what I just realized? I have not looked at the dashboard here, but yes, lo and behold, that means that now Strategy has 22 months of dollars on reserve to pay for stretch. Again, the market basically said, look, bro, it's not that we don't like your product. What we aren't comfortable with is the fact that you do not have two years of reserves on hand in cash to pay back the stretch preferred. So I'm guessing, you know, going out, I wouldn't say on a limb here, but I am guessing that next week we will probably see another stack of dollars for Strategy. And this does add to the controversy here. I'm not going to lie. It is still adding to one of the things that have gotten Saylor into hot water is the MSTR dilution. Now, if you're an MSTR holder, maybe you don't really care about this, but this is one of those sticking points that a lot of people have been talking about. And he did in fact sell 2.7 million MSTR shares to essentially buy those dollars, you know, sell the shares for the dollars. Now, again, to answer the question, why is Saylor not buying Bitcoin? I will speculate a little bit on, you know, the fact that the Bitcoin price is going up, that that is very interesting. And we did get a clip of Saylor back in the day. I'm not gonna play it for you guys, I've played it before. But here's Dylan, of course, one of my bros, young kid, Gen Z, he's over at MetaPlanet. I think he understands what's going on probably better than most people since he's on the inside. So here's Dylan's take on it. He goes, question, why more ATM sells to buy dollars? Answer, MicroStrategy enters its proper form by getting preferred back to where management wants to sell them. Tighten the preferred credit spreads and the entire engine will come back alive. Patience. Again, if you are watching the stretch price, which I guess I should have pulled up here. If you're watching the stretch price, it is still not back to $100.
This is the longest stint. It has been under $100. Again, it's not a peg, it's a par here so that once it gets above $100, they can start selling to acquire more Bitcoin.
It's still under, so it is still being stress test in real time, right? And I think this is why we're seeing Saylor Stack dollars right now. Again, the market basically told them, you need to have two years of cash before we feel comfortable with the risk to buy your stretch product. Now, if you do look at MSTR, it's not doing too bad, just barely under $100. It looks like it might have push back any more of its drop here, but under $100, a lot of people are looking at it and probably getting a little bit of a little FOMO into MSTR here.