Phong Le

@phongle

"AI is going to demonetize a lot of equities based on labor and talent. Capital investors are going to look for things that the robots can’t make more of." bitcoin:native

Michael Saylor

@saylor

· View on X ↗

Bitcoin is raw financial energy. Strategy transforms it into Digital Credit. At noon today, I joined @TimSteno and @CarolMassar on Bloomberg @Crypto to discuss Bitcoin’s bull market setup, AI and scarcity, and the future of Digital Credit. 00:48 - Bitcoin bull market setup: headwinds rotating into tailwinds 01:55 - AI, scarce capital, and assets robots cannot create 03:05 - Digital Capital, Digital Credit, and Strategy’s outperformance 04:16 - Bitcoin as raw financial energy 06:32 - Strategy as a structured finance company: Bitcoin, dollars, equity, and credit 08:49 - Bull market strategy: acquiring Bitcoin and issuing Digital Credit 10:20 - Investor time horizons: money markets, $STRC, $BTC, and $MSTR 12:26 - Strategy’s advantage: high-performance Digital Credit built on high-performance capital

Strategy

@Strategy

Subscribe: youtube.com/@Strategy

Strategy

@Strategy

We've secured @Strategy on YouTube. All of Strategy's Bitcoin content now has a dedicated home, from earnings calls and investor Q&As to conversations with @Saylor, @PhongLe, and more.

Michael Saylor

@saylor

Bitcoin is raw financial energy. Strategy transforms it into Digital Credit. At noon today, I joined @TimSteno and @CarolMassar on Bloomberg @Crypto to discuss Bitcoin’s bull market setup, AI and scarcity, and the future of Digital Credit. 00:48 - Bitcoin bull market setup: headwinds rotating into tailwinds 01:55 - AI, scarce capital, and assets robots cannot create 03:05 - Digital Capital, Digital Credit, and Strategy’s outperformance 04:16 - Bitcoin as raw financial energy 06:32 - Strategy as a structured finance company: Bitcoin, dollars, equity, and credit 08:49 - Bull market strategy: acquiring Bitcoin and issuing Digital Credit 10:20 - Investor time horizons: money markets, $STRC, $BTC, and $MSTR 12:26 - Strategy’s advantage: high-performance Digital Credit built on high-performance capital

Phong Le

@phongle

$STRC closed at $88.86 when I tweeted this. It has since appreciated 12.4% in 2.5 months. Our corporate objective remains unchanged. Our focus is par: $100.

Phong Le

@phongle

Our primary corporate objective.

Strategy

@Strategy

Download the full Bitcoin Banking Adoption Index slides and explore our scoring methodology here: strategy.com/bitcoin/bbai

Strategy

@Strategy

Score increases reflected expanded Bitcoin ETP access, custody services, and BTC-backed lending, alongside progress in stablecoins and tokenization.

Strategy

@Strategy

Strategy’s Bitcoin Banking Adoption Index increased to 34% in Q3 2026. Bitcoin and digital asset adoption across major global banks continues to expand, but remains early. Institutions with questions or corrections: ir@strategy.com

Michael Saylor

@saylor

The future of Bitcoin is the future of finance. This morning at the World Bank, I joined Chris Brummer, Founder & CEO of The Fintech Foundation, for a 25-minute fireside chat at DC Fintech Week. @fintechthinksdc 00:52 - Strategy as a reserve institution built on Digital Capital, Digital Credit, and Digital Equity 01:32 - Bitcoin as Digital Gold, Digital Capital, and the foundation for a new financial system 03:19 - Strategy as a private central bank for the crypto economy 06:54 - Manufacturing Digital Credit backed by USD reserves and Bitcoin 08:08 - Return of capital, tax-deferred dividends, and scalable fixed income 09:17 - How Digital Credit amplifies Bitcoin per share for $MSTR equity holders 12:17 - Bitcoin headwinds and tailwinds: policy, liquidity, bank adoption, and AI capital flows 13:12 - Bitcoin-backed bank credit and the impact of $10B in new lending 16:20 - The triple reflexive flywheel: Bitcoin price, reserves, credit risk, and equity premiums 18:25 - Quantum risk, AI hacking, and why Bitcoin can upgrade when consensus forms

Michael Saylor

@saylor

Strive is turning demand for digital equity ($ASST) and digital credit ($SATA) into demand for Bitcoin. Its hypergrowth shows how the capital markets are accelerating Bitcoin adoption.

Strategy

@Strategy

How To Vote:

Strategy

@Strategy

Every Day Counts. Every Vote Counts. Vote for Daily Dividends on $STRC $STRF $STRK $STRD.

Phong Le

@phongle

Nice job @chasepalmieri and @CJ_Bitcoin. A thoughtful discussion on $BTC, $MSTR, and $STRC past, present, and future.

Chaitanya Jain

@CJ_Bitcoin

· View on X ↗

My podcast conversation with @chasepalmieri. We discuss all the tough questions posed by $MSTR and $STRC shareholders, including competition, returns, innovation, and @Strategy's vision. 00:00 Introduction to Strategy and CJ's Role 01:07 Proposal for Daily Dividends and Market Innovation 04:59 Upcoming Shareholder Vote and Future Plans for Daily Dividends 06:05 Balancing Bitcoin Per Share and Total Return Objectives 09:28 Strategy's Approach to Dividend Rates and Market Demand 11:58 Managing USD Reserves and Market Shocks 15:10 Leverage, Liquidations, and Market Risks 18:46 Market Recovery and the Role of Buybacks 21:47 SATA vs. STRC and Market Dynamics 23:47 Investor Perspectives on Digital Credit Instruments 25:39 Strategy's Ecosystem and Future Growth 30:43 BTC Ratings, Coverage Ratios, and Market Perception 34:05 Collaborative vs. Competitive Digital Credit Ecosystem 38:30 Strategy's Innovation and Future Product Development 43:33 Communication Strategies and Shareholder Engagement 46:22 Potential for a Strategy Podcast and Transparency 48:14 Institutional and Retail Communication Efforts 50:13 Risks of Media and Market Discourse 52:17 Preparing for Bull and Bear Markets 54:18 USD Reserves and Yield on Cash Holdings 55:27 Long-Term Growth and Cash Flow Needs 58:08 Strategy as the JPMorgan of Bitcoin 59:27 Future of Bitcoin as Collateral and Lending 1:00:23 Leadership and Succession Planning 1:04:04 CJ's Vision for Strategy and Market Leadership 1:05:54 Where to Follow Strategy and CJ on Social Media

Michael Saylor

@saylor

The ₿ears are under control.

Phong Le

@phongle

I voted "For" amending $STRC, $STRF, $STRK, and $STRD to permit daily dividends.

Strategy

@Strategy

· View on X ↗

$MSTR holders, check your inboxes & mailboxes. Brokerages have started sending voting notices on the proposed amendment to pay dividends daily for $STRC, $STRF, $STRK, and $STRD. Learn how to vote:

Chaitanya Jain

@CJ_Bitcoin

Watch on Youtube: youtu.be/kZbDiUm5q-M

Chaitanya Jain

@CJ_Bitcoin

My podcast conversation with @chasepalmieri. We discuss all the tough questions posed by $MSTR and $STRC shareholders, including competition, returns, innovation, and @Strategy's vision. 00:00 Introduction to Strategy and CJ's Role 01:07 Proposal for Daily Dividends and Market Innovation 04:59 Upcoming Shareholder Vote and Future Plans for Daily Dividends 06:05 Balancing Bitcoin Per Share and Total Return Objectives 09:28 Strategy's Approach to Dividend Rates and Market Demand 11:58 Managing USD Reserves and Market Shocks 15:10 Leverage, Liquidations, and Market Risks 18:46 Market Recovery and the Role of Buybacks 21:47 SATA vs. STRC and Market Dynamics 23:47 Investor Perspectives on Digital Credit Instruments 25:39 Strategy's Ecosystem and Future Growth 30:43 BTC Ratings, Coverage Ratios, and Market Perception 34:05 Collaborative vs. Competitive Digital Credit Ecosystem 38:30 Strategy's Innovation and Future Product Development 43:33 Communication Strategies and Shareholder Engagement 46:22 Potential for a Strategy Podcast and Transparency 48:14 Institutional and Retail Communication Efforts 50:13 Risks of Media and Market Discourse 52:17 Preparing for Bull and Bear Markets 54:18 USD Reserves and Yield on Cash Holdings 55:27 Long-Term Growth and Cash Flow Needs 58:08 Strategy as the JPMorgan of Bitcoin 59:27 Future of Bitcoin as Collateral and Lending 1:00:23 Leadership and Succession Planning 1:04:04 CJ's Vision for Strategy and Market Leadership 1:05:54 Where to Follow Strategy and CJ on Social Media

Strategy

@Strategy

$MSTR holders, check your inboxes & mailboxes. Brokerages have started sending voting notices on the proposed amendment to pay dividends daily for $STRC, $STRF, $STRK, and $STRD. Learn how to vote:

Michael Saylor

@saylor

USD Duration is 3.5 yrs and STRC's BTC Credit is 52 bps assuming 10% BTC ARR, 40% BTC Vol, and a BTC price of $82,252. Learn more about Strategy's credit metrics: strategy.com/credit

Michael Saylor

@saylor

Strategy has acquired 250 $BTC and repurchased $192M of $STRC. As of 10/11/26, we hold 848,250 BTC and $5.5B of USD Assets. $MSTR strategy.com/press/strategy…

Strategy

@Strategy

USD Duration is 3.5 yrs and STRC's BTC Credit is 52 bps assuming 10% BTC ARR, 40% BTC Vol, and a BTC price of $82,252. Learn more about Strategy's credit metrics: strategy.com/credit

Strategy

@Strategy

Strategy has acquired 250 $BTC and repurchased $192M of $STRC. As of 10/11/26, we hold 848,250 BTC and $5.5B of USD Assets. $MSTR strategy.com/press/strategy…

Phong Le

@phongle

Never enough ₿itcoin.

Alex 👽

@AlexesNakamoto

On₿oarding. Embrace Bitcoin. Completely.

Michael Saylor

@saylor

There’s always room for more orange.

Phong Le

@phongle

The trend towards corporate, institution, bank, and nation state adoption of Bitcoin is encouraging and makes us even more bullish on bitcoin.

The ₿itcoin Therapist

@TheBTCTherapist

Strategy bought over 175K BTC this year during a bear market and are responsible for ~91% of all the bitcoin bought by businesses. No one is catching Michael Saylor. x.com/river/status/2…

Strategy

@Strategy

Tutorial on Digital Credit: $STRD ("Stride")

Michael Saylor

@saylor

All signs point to Bitcoin.

Michael Saylor

@saylor

Probably nothing.

Strategy

@Strategy

· View on X ↗

Strategy leads all companies in tokenized stock value on-chain, with $491M across $MSTR and $STRC.

Strategy

@Strategy

Strategy leads all companies in tokenized stock value on-chain, with $491M across $MSTR and $STRC.

Michael Saylor

@saylor

Four of CoinGecko’s top 10 tokenized stocks are based on $MSTR and $STRC. Digital Equity and Digital Credit are going global.

Chaitanya Jain

@CJ_Bitcoin

What questions would you like @Strategy's management team to address during our Q3 2026 Earnings Call? Please comment below.

Strategy

@Strategy

· View on X ↗

Join us for our Q3 2026 Earnings Call on Thursday, October 29 at 5 PM ET. The call will be livestreamed on Zoom, X, and YouTube. $MSTR $STRC strategy.com/press/strategy…

Phong Le

@phongle

"$STRCx is now the world’s largest tokenized equity by circulating market cap." Awesome.

xStocks

@xStocksFi

$STRCx is now the world’s largest tokenized equity by circulating market cap. Issued by @Strategy, the world’s largest Bitcoin Treasury Company and tokenized by xStocks, more than $158M of Strategy preferred stock is now onchain. There is no second ₿est.

Michael Saylor

@saylor

Digital Credit is raising the bar for income investors. $STRC

Strategy

@Strategy

Join us for our Q3 2026 Earnings Call on Thursday, October 29 at 5 PM ET. The call will be livestreamed on Zoom, X, and YouTube. $MSTR $STRC strategy.com/press/strategy…

Michael Saylor

@saylor

Cool credit. Hot equity. $STRC $MSTR

Strategy

@Strategy

Second law of financial engineering: "To create stability, you must do work." $STRC $MSTR

Michael Saylor

@saylor

Bitcoin. Don’t leave home without it.

Phong Le

@phongle

NVIDIA is ~80% of global AI data center chip revenue, Micron ~20% of DRAM, Alphabet ~50% of search advertising, Microsoft ~50% of productivity software, Apple ~50% of smartphones, Amazon ~30% of cloud infrastructure. Strategy owns ~4% of all Bitcoin ever. We’re still early.

Strategy

@Strategy

· View on X ↗

Our Q3 digital asset gain would rank #7 among the latest quarterly operating income of S&P 500 companies. $BTC

Strategy

@Strategy

Cooking $STRC

Michael Saylor

@saylor

Digital Intelligence explains Digital Credit built on Digital Capital. Understand $STRC in under four minutes.

Strategy

@Strategy

Tutorial on Digital Credit: $STRC ("Stretch")

Michael Saylor

@saylor

Digital Credit is expanding the Bitcoin economy. More issuers bring more investors, more capital, and more opportunity. The success of the industry benefits us all.

Michael Saylor

@saylor

The new michael.com is live. Explore my interviews, keynotes, articles, presentations, and resources on Bitcoin, digital assets, and the future of money. Redesigned to make the ideas easier to find.

Strategy

@Strategy

First law of financial engineering: "Conservation of Volatility" $BTC -> $STRC + $MSTR

Michael Saylor

@saylor

In the Bitcoin Standard Era, Digital Intelligence ($NVDA), Digital Equity ($MSTR), and Digital Capital ($BTC) have delivered 65%, 52%, and 38% annualized returns, outperforming the rest of the Magnificent Seven. The future is digital.

Strategy

@Strategy

Tutorial on Digital Credit: $STRK ("Strike")

Phong Le

@phongle

$MSTR is built to outperform $BTC in a bull market. In Q3, it did precisely that and also outperformed equities. More interestingly, our correlation to equities falls.

Michael Saylor

@saylor

Since Strategy adopted the Bitcoin Standard in 2020, Digital Equity ($MSTR) and Digital Capital ($BTC) have delivered 52% and 38% annualized returns, outperforming the stock, gold, real estate, and bond benchmarks shown. The future of capital is digital..

Strategy

@Strategy

Our Q3 digital asset gain would rank #7 among the latest quarterly operating income of S&P 500 companies. $BTC

Michael Saylor

@saylor

What we do for Bitcoin echoes in eternity.

Michael Saylor

@saylor

I was told there would be an elevator.

Strategy

@Strategy

You can now vote on the proposal for daily dividends on every calendar day for $STRF, $STRC, $STRK, and $STRD. Make your voice heard and your vote count. To learn more and find out how to vote, click here: strategy.com/mstr/votes

Chaitanya Jain

@CJ_Bitcoin

$21 billion Gain on Digital Assets in Q3 2026. Every $1k increase in $BTC price is a $848 million fair market value gain to @Strategy.

Michael Saylor

@saylor

· View on X ↗

Strategy reports a $21 billion gain on digital assets in Q3 2026. Last week, we acquired 334 $BTC and repurchased $176M of $STRC. As of 10/4/26, we hold 848,000 BTC and $5.7B of USD Assets. $MSTR strategy.com/press/strategy…

Strategy

@Strategy

USD Duration is 3.6 yrs and STRC's BTC Credit is 50 bps assuming 10% BTC ARR, 40% BTC Vol, and a BTC price of $84,289. Learn more about Strategy's credit metrics: strategy.com/credit/risk

Strategy

@Strategy

Strategy reports a $21 billion gain on digital assets in Q3 2026. Last week, we acquired 334 $BTC and repurchased $176M of $STRC. As of 10/4/26, we hold 848,000 BTC and $5.7B of USD Assets. $MSTR strategy.com/press/strategy…

Michael Saylor

@saylor

Strategy reports a $21 billion gain on digital assets in Q3 2026. Last week, we acquired 334 $BTC and repurchased $176M of $STRC. As of 10/4/26, we hold 848,000 BTC and $5.7B of USD Assets. $MSTR strategy.com/press/strategy…

Michael Saylor

@saylor

USD Duration is 3.6 yrs and STRC's BTC Credit is 50 bps assuming 10% BTC ARR, 40% BTC Vol, and a BTC price of $84,289. Learn more about Strategy's credit metrics: strategy.com/credit/risk

Michael Saylor

@saylor

Bitcoin can serve very different investors. $BTC offers direct ownership, $MSTR amplified exposure, and $STRC income with less 30-day price volatility than every Mag 7 stock. Digital Capital is the foundation for Digital Equity and Digital Credit.

Michael Saylor

@saylor

Don’t sleep on Bitcoin.

Michael Saylor

@saylor

More orange than ever.

Michael Saylor

@saylor

Digital Credit built on Bitcoin opens a new chapter in the history of finance. $STRC

Michael Saylor

@saylor

₿ears Anonymous

Michael Saylor

@saylor

A milestone for Digital Credit: $STRC’s 30-day historical volatility is now 9%, below $SPY. We’re harnessing the power of Bitcoin while reducing price volatility for income investors. This is what financial engineering should do.

Michael Saylor

@saylor

Digital Credit is an alloy of capital and currency. $STRC

Strategy

@Strategy

Digital Credit is an alloy of capital and currency. $STRC

Michael Saylor

@saylor

Still living comfortably. $STRC

Phong Le

@phongle

Uptober is my favorite month. Everything turns orange.

Michael Saylor

@saylor

A Tutorial on Digital Credit. $STRC

Strategy

@Strategy

Tutorial on Digital Credit $STRC

Michael Saylor

@saylor

Stretch Dividend Rate maintained at 12.00% for October 2026. $STRC

Strategy

@Strategy

Stretch Dividend Rate maintained at 12.00% for October 2026. $STRC

Chaitanya Jain

@CJ_Bitcoin

2025: Digital Credit

a16z crypto

@a16zcrypto

New markets have changed what people can trade and how. In the last decade, blockchains have started lowering the cost of building markets, making it easier to experiment with net new ones.

Chaitanya Jain

@CJ_Bitcoin

Physical engineers by training. Financial engineers by trade.

Strategy

@Strategy

· View on X ↗

How Strategy Engineers Digital Credit $STRC

Strategy

@Strategy

How Strategy Engineers Digital Credit $STRC

Michael Saylor

@saylor

Make the ₿ears work for you.

Phong Le

@phongle

MSCI told the SEC it “expresses no opinion or view as to whether any market, company, strategy, or investment is good or bad.” Yet its recent efforts sure seem to express the opinion that Bitcoin is bad. This is bigger than Bitcoin. $21 trillion is benchmarked to MSCI indexes.

Bitcoin Policy Institute

@bitcoinpolicy

NEW FINDINGS: We took a close look at MSCI’s effort to exclude Bitcoin treasury companies from major stock indexes. We found an internal project trail buried in a public document, years of ESG advocacy, and proposed rules that could reach far beyond Bitcoin. Our new paper, “Wall Street’s Invisible Committee,” documents what we uncovered and provides recommendations for policymakers. MSCI reports an astonishing $21 trillion benchmarked to its indexes. When its committees change which companies qualify, funds tracking those indexes must adjust their holdings. A methodology decision can trigger billions in reallocation. Here’s what we found. 𝟭. 𝗧𝗵𝗲 𝗻𝗲𝘄 𝗽𝗿𝗼𝗽𝗼𝘀𝗮𝗹 𝘀𝘁𝗶𝗹𝗹 𝗰𝗮𝗿𝗿𝗶𝗲𝘀 𝘁𝗵𝗲 𝗼𝗿𝗶𝗴𝗶𝗻𝗮𝗹 𝗽𝗿𝗼𝗷𝗲𝗰𝘁’𝘀 𝗶𝗻𝘁𝗲𝗿𝗻𝗮𝗹 𝗻𝗮𝗺𝗲. In 2025, MSCI proposed excluding Digital Asset Treasury Companies (DATCOs) holding at least half their assets in digital assets. After substantial opposition, it shelved the proposal. It later returned this year with a broader, facially neutral test for “non-operating companies.” MSCI’s own simulation would exclude Strategy and Metaplanet. We examined the public consultation PDF and found something revealing in its embedded metadata. The source presentation’s internal file path includes— “Projects/DATCOs/Operating vs Non Operating” A proposal presented as a general classification rule retains a source-file path explicitly associated with the category targeted by the earlier exclusion effort. While metadata alone cannot prove the outcome was predetermined, it raises a direct question for MSCI. Were these criteria developed to classify companies consistently, or engineered to reach the same exclusions against digital asset companies through a broader rule? 𝟮. 𝗠𝗦𝗖𝗜 𝘄𝗮𝘀 𝘀𝗼𝘂𝗻𝗱𝗶𝗻𝗴 𝘁𝗵𝗲 𝗮𝗹𝗮𝗿𝗺 𝗮𝗯𝗼𝘂𝘁 “𝗰𝗿𝗲𝗲𝗽𝗶𝗻𝗴 𝗰𝗿𝘆𝗽𝘁𝗼” 𝘆𝗲𝗮𝗿𝘀 𝗲𝗮𝗿𝗹𝗶𝗲𝗿. We traced its public record back to an October 2021 article titled “Creeping Crypto.” MSCI publicly warned about cryptocurrency exposure entering equity portfolios, described most cryptocurrencies as “speculative investments with little evident utility,” and flagged Bitcoin’s Proof of Work as environmentally dangerous. They identified 26 exposed public companies and promoted tools for screening additional exposure. Singled out at the very bottom of their ESG rankings... was Strategy. While the article did not call for exclusions, it does establish that an internal belief at MSCI that Bitcoin and digital asset companies were an ESG concern four years before proposing to remove digital asset treasury companies. 𝟯. 𝗧𝗵𝗲 𝗰𝗹𝗶𝗺𝗮𝘁𝗲 𝗮𝗴𝗲𝗻𝗱𝗮 𝗿𝗲𝗮𝗰𝗵𝗲𝗱 𝘁𝗵𝗲 𝗽𝗲𝗼𝗽𝗹𝗲 𝗿𝘂𝗻𝗻𝗶𝗻𝗴 𝘁𝗵𝗲 𝗯𝘂𝘀𝗶𝗻𝗲𝘀𝘀. CEO Henry Fernandez has repeatedly, publicly proclaimed the urgent importance of ESG investing. In 2021, he recounted urging bankers to “refuse to take a company public or do a bond offering” without a net-zero pledge. MSCI’s leadership also combined responsibility for ESG and index governance. Its then-head of indexes described an ambition for its flagship global index to become “green, one company at a time.” These statements do not prove the motive behind today’s proposal. They make the boundary between MSCI’s advocacy and its broad-market index decisions a serious governance question. 𝟰. 𝗧𝗵𝗲 𝗱𝗶𝘀𝗰𝗿𝗲𝘁𝗶𝗼𝗻 𝗰𝗼𝘂𝗹𝗱 𝗮𝗳𝗳𝗲𝗰𝘁 𝗔𝗺𝗲𝗿𝗶𝗰𝗮’𝘀 𝗻𝗲𝘅𝘁 𝗴𝗲𝗻𝗲𝗿𝗮𝘁𝗶𝗼𝗻 𝗼𝗳 𝗶𝗻𝗱𝘂𝘀𝘁𝗿𝘆. The proposed test relies on “operating assets” without a sufficiently clear, reproducible classification framework. How should it treat a satellite awaiting launch? A mine under construction? Capital raised to build a factory? Our analysis shows how plausible interpretations could disadvantage emerging, strategic industries before they have the chance to compete. Americans buying broad-market funds deserve transparent rules, reproducible decisions, and meaningful accountability from the committees deciding what they own. Read the full findings and our recommendations below ↓ btcpolicy.org/articles/wall-…

Michael Saylor

@saylor

Strategy ($MSTR) and Strive ($ASST) share a Bitcoin foundation. Broader adoption can strengthen balance sheets, lower credit costs, and expand equity valuations. We are building Digital Capital, Digital Credit, and Digital Equity together.

Michael Saylor

@saylor

· View on X ↗

x.com/i/article/2105…

Chaitanya Jain

@CJ_Bitcoin

If @Strive and $SATA succeed, @Strategy and $STRC benefit. We're on the same team. We share the same mission. And we own the same capital asset - $BTC.

Michael Saylor

@saylor

· View on X ↗

x.com/i/article/2105…

Strategy

@Strategy

Every calendar day would count. $STRC Daily dividends are proposed, subject to shareholder approval.

Michael Saylor

@saylor

x.com/i/article/2105…

Phong Le

@phongle

The @RIAChannel accesses 400K+ finance professionals with $6 trillion AUM. Bitcoin and Digital Credit for everyone. $BTC $STRC

RIA Channel

@RIAChannel

@Strategy's @saylor discusses investing in bitcoin and Digital Credit. Watch Full Interview: riachannel.com/strategys-mich… #RIA #RIAChannel #Bitcoin #DigitalCredit

Michael Saylor

@saylor

Digital Credit. Transparent by design. Model the risk. Compare the price. Do the math.

Strategy

@Strategy

· View on X ↗

Introducing the Strategy Credit Pricing Calculator. Compare current market prices for Strategy's preferreds with illustrative Derived Prices based on BTC Credit from our Credit Risk Calculator.

Chaitanya Jain

@CJ_Bitcoin

Excited to introduce the $BTC Credit Pricing Calculator for Digital Credit. $STRC The risk analysis uses a probability distribution for $BTC prices based on user-provided ARR and volatility assumptions. Please test it out and let us know if you have any feedback.

Strategy

@Strategy

· View on X ↗

Introducing the Strategy Credit Pricing Calculator. Compare current market prices for Strategy's preferreds with illustrative Derived Prices based on BTC Credit from our Credit Risk Calculator.

Strategy

@Strategy

Finally, Implied BTC ARR is the BTC ARR that would make BTC Credit equal the current Market Spread. Explore the Strategy Credit Pricing Calculator and test your own assumptions: strategy.com/credit/pricing

Strategy

@Strategy

The pricing calculator then uses BTC Credit in place of Market Spread to calculate an illustrative Derived Price. Price vs. Derived shows how the current market price compares with that derived result.

Strategy

@Strategy

Next, the pricing calculator takes each preferred’s current Effective Yield and calculates its Market Spread above the applicable risk-free rate.

Strategy

@Strategy

First, the Credit Risk Calculator takes your BTC Price, BTC Volatility, and BTC ARR assumptions and produces BTC Credit: an annualized credit spread for each security based on its modeled BTC Risk.

Strategy

@Strategy

Introducing the Strategy Credit Pricing Calculator. Compare current market prices for Strategy's preferreds with illustrative Derived Prices based on BTC Credit from our Credit Risk Calculator.

Michael Saylor

@saylor

Strategy engineers Digital Credit from Bitcoin: strip volatility, compress duration, extract yield.

Michael Saylor

@saylor

· View on X ↗

x.com/i/article/2104…

Phong Le

@phongle

Every day counts. Count every day.

Strategy

@Strategy

· View on X ↗

Get paid for every calendar day you hold $STRC.

Strategy

@Strategy

Today is the last trading day to purchase $STRC and be entitled to the $0.50 dividend per share for the September 30 record date and October 15 payout date.

Michael Saylor

@saylor

x.com/i/article/2104…

Strategy

@Strategy

Get paid for every calendar day you hold $STRC.

Michael Saylor

@saylor

Spread Bitcoin with love.

Phong Le

@phongle

Software evolved from annual releases to quarterly, monthly, and now real-time updates. $STRC is showing what happens when capital markets begin moving at the speed of technology.

Strategy

@Strategy

· View on X ↗

The evolution of $STRC continues. Next proposed upgrade: Daily Dividends.

Strategy

@Strategy

The evolution of $STRC continues. Next proposed upgrade: Daily Dividends.

Phong Le

@phongle

Expect a flurry of TradFi announcements in crypto, digital assets, and DeFi before year-end. Regulatory clarity, client demand, and market realities are pulling the financial system onchain.

Watcher.Guru

@WatcherGuru

JUST IN: 🇺🇸 $2.8 trillion Citi partners with Coinbase to enable stablecoin payments for institutional clients.

Chaitanya Jain

@CJ_Bitcoin

New ATH: 847,666 BTC YTD Acquired: 175,166 BTC

Michael Saylor

@saylor

· View on X ↗

Strategy has acquired 1,665 $BTC and repurchased $152M of $STRC. As of 9/27/26, we hold 847,666 BTC and $6.02B of USD Assets. $MSTR strategy.com/press/strategy…

Michael Saylor

@saylor

USD Duration is 3.8 yrs. STRC's BTC Credit tightened to 49 bps (-1 bp), assuming 10% BTC ARR, 40% BTC Vol, and a BTC price of $84,006. Learn more about Strategy's credit metrics: strategy.com/credit

Michael Saylor

@saylor

Strategy has acquired 1,665 $BTC and repurchased $152M of $STRC. As of 9/27/26, we hold 847,666 BTC and $6.02B of USD Assets. $MSTR strategy.com/press/strategy…

Strategy

@Strategy

USD Duration is 3.8 yrs. STRC's BTC Credit tightened to 49 bps (-1 bp), assuming 10% BTC ARR, 40% BTC Vol, and a BTC price of $84,006. Learn more about Strategy's credit metrics: strategy.com/credit

Strategy

@Strategy

Strategy has acquired 1,665 $BTC and repurchased $152M of $STRC. As of 9/27/26, we hold 847,666 BTC and $6.02B of USD Assets. $MSTR strategy.com/press/strategy…

Michael Saylor

@saylor

Ciao, ₿ears.

Michael Saylor

@saylor

Even more orange.

Michael Saylor

@saylor

$STRC is Digital Credit. $IBIT is Digital Capital. $MSTR is Digital Equity.

Chaitanya Jain

@CJ_Bitcoin

My conversation with @TimKotzman on Digital Credit, including @Strategy's move to daily dividends, the ownership base, and $STRC L2s. 0:00 - Intro 1:13 - What is Digital Credit? 6:16 - How is Strategy thinking about everyday dividends? 10:05 - What is STRC and why should you own it? 15:40 - Why Strategy bought back STRC 20:45 - How Strategy is building liquidity and trust in the market 23:40 - Who is the right owner of STRC? 29:00 - Where can STRC, Digital Credit, and the industry go from here? x.com/TimKotzman/sta…

Michael Saylor

@saylor

Prosperity begins with freedom. Individuals and companies must be free to create, issue, custody, transfer, and use digital assets. Protect privacy. Encourage competition. Let people build wealth.

Michael Saylor

@saylor

· View on X ↗

x.com/i/article/2103…

Michael Saylor

@saylor

x.com/i/article/2103…

Michael Saylor

@saylor

Let’s address the ₿ull in the room.

Strategy

@Strategy

Digital Credit should work every day. $STRF $STRC $STRK $STRD

Phong Le

@phongle

More products building on top of digital credit.

Strive Asset Management

@StriveFunds

$STRC and $SATA are among the two most liquid preferred equities issued to date. 18-month distribution reserves. Tax-advantaged distributions. Governance protections. Digital credit sits between traditional fixed income and common equity. DCAP is built to own it. For more information, including risks and to view a prospectus, visit digitalcreditetfs.com Distributed by: PINE Distributors LLC

Phong Le

@phongle

The era of always-on capital markets is here. Daily dividends, 365 days a year.

Strategy

@Strategy

· View on X ↗

Strategy is proposing daily dividends on $STRF, $STRC, $STRK, and $STRD, accruing every calendar day, including weekends and holidays, and paid the next business day, with economics unchanged. The proposed changes aim to support price stability, liquidity, and demand.

Chaitanya Jain

@CJ_Bitcoin

New $STRC upgrade coming soon: Daily dividends.

Michael Saylor

@saylor

· View on X ↗

Strategy is proposing daily dividends on $STRF, $STRC, $STRK, and $STRD, accruing every calendar day, including weekends and holidays, and paid the next business day, with economics unchanged. The proposed changes aim to support price stability, liquidity, and demand.

Strategy

@Strategy

To view more information, click here. strategy.com/mstr/vote

Strategy

@Strategy

Strategy is proposing daily dividends on $STRF, $STRC, $STRK, and $STRD, accruing every calendar day, including weekends and holidays, and paid the next business day, with economics unchanged. The proposed changes aim to support price stability, liquidity, and demand.

Michael Saylor

@saylor

To view more information, click here. strategy.com/mstr/vote

Michael Saylor

@saylor

Strategy is proposing daily dividends on $STRF, $STRC, $STRK, and $STRD, accruing every calendar day, including weekends and holidays, and paid the next business day, with economics unchanged. The proposed changes aim to support price stability, liquidity, and demand.

Chaitanya Jain

@CJ_Bitcoin

1 in 1000 Harvard students are Bitcoiners. We’re still so early.

Julian Figueroa

@kinetic_finance

I asked 100 Harvard students about Bitcoin.... this is NOT what I expected.

Michael Saylor

@saylor

Read the full transcript of our discussion: michael.com/transcript/say…

Michael Saylor

@saylor

The age of Digital Assets and Digital Intelligence needs a bill of digital rights. My policy prescriptions for prosperity from a fireside chat with @BitcoinConner at @BitcoinPolicy’s Freedom Tech DC summit. michael.com/transcript/say…

Strategy

@Strategy

Our roadmap for $STRC: Deeper liquidity, lower volatility, greater predictability and robust asset coverage - create the trust layer for Digital Credit innovation.

Michael Saylor

@saylor

Out of ₿ubblegum.

Chaitanya Jain

@CJ_Bitcoin

Under U.S. GAAP, $BTC can be an input combined with substantive processes to form a business. At @Strategy, those processes include capital formation, digital credit issuance, risk management, and a dedicated workforce.

Strategy

@Strategy

· View on X ↗

BDO, the world’s 5th largest accounting network, notes industries are built on assets: airlines deploy aircraft, banks allocate capital, and software firms monetize IP. Bitcoin can similarly be a foundational asset around which businesses are built. bdo.com/insights/assur…

Phong Le

@phongle

Innovation in digital assets and digital credit will accelerate as more capital and more participants enter the market. Everyone wins.

Natalie Brunell ⚡️

@natbrunell

Strategy built the blueprint for digital credit, Strive followed it, and right now Strive's product $SATA is the one holding par. Here's how Phong Le sees it: x.com/natbrunell/sta…

Strategy

@Strategy

MSCI should assess the activities, processes, management oversight, and capabilities built around bitcoin, not just the asset itself. Read our letter to MSCI here: strategy.com/msci. The deadline to submit comments is September 30, 2026.

Strategy

@Strategy

BDO, the world’s 5th largest accounting network, notes industries are built on assets: airlines deploy aircraft, banks allocate capital, and software firms monetize IP. Bitcoin can similarly be a foundational asset around which businesses are built. bdo.com/insights/assur…

Michael Saylor

@saylor

On Tuesday, I joined @BitcoinConner for a fireside chat at @bitcoinpolicy’s Freedom Tech DC summit to share my policy prescriptions for prosperity in the age of Digital Assets and Digital Intelligence. Individuals and companies need a bill of digital rights, not a bill of restrictions. I believe regulators are better positioned than Congress to advance those rights. 02:24 - Digital assets taxonomy and the path from $3T to $100T 03:03 - Digital tokens, capital formation, and 10 million new companies 05:46 - Digital currency rights: stablecoins, yield, and competition 08:07 - Bitcoin as Digital Capital: bank custody, credit, and fair rules 11:25 - $1.6T of unbanked Bitcoin capital and why bank adoption matters 12:59 - Tokenized securities, self-custody, and competitive credit 15:59 - Clarity as a bill of restrictions vs. a bill of rights 18:43 - The next 24 months: CFTC, SEC, Treasury, and White House leadership 27:14 - AI agents, 24/7 markets, and 20th-century financial rails 32:03 - Why AI agents need pure digital money and digital assets

Strategy

@Strategy

strategy.com/media

Strategy

@Strategy

We brought X to Strategy.com. The Media tab now features a live feed of the latest Strategy posts, alongside our latest Presentations, Keynotes, Interviews, and more.

Strategy

@Strategy

Our $5B USD Reserve has one purpose: pay preferred dividends + debt interest. $STRC

Phong Le

@phongle

$STRC is Digital Credit for everyone. After one year, it has grown to $10B. It is designed to be high yield (currently 12%), high liquidity ($143M average daily trading volume), and low volatility (10%), trading between $99 and $100. It is supported by strong collateral coverage: $72B of $BTC (6.4X BTC rating) and $6B of USD (3.8 years of dividend coverage). Digital Credit addresses the $300 trillion credit market. $STRC has also become the platform for innovation in the digital assets ecosystem, including yield-generating stablecoins and tokens. These products, built on STRC, have already grown to $500M. Get ready for year two of $STRC. I discuss the potential with @natbrunell.

Strategy

@Strategy

$STRC shareholders: what do you value most?

Michael Saylor

@saylor

Friends don’t let friends short Bitcoin.

Phong Le

@phongle

Got this challenge coin from the SEC today. Love the slogan: “The Best Regs For Your Nest Eggs” and the culture: mission, innovation, and approachability. This SEC has the leadership @SECPaulSAtkins and mindset to help transform U.S. capital markets for the digital asset era.

Michael Saylor

@saylor

Stretch your income. $STRC

Strategy

@Strategy

Stretch your income. $STRC

Strategy

@Strategy

Interest and activity in $MSTR is growing.

Phong Le

@phongle

AI needs a Satoshi Nakamoto.

Natalie Brunell ⚡️

@natbrunell

Don’t miss my new interview with Strategy CEO @PhongLe. We discuss STRC’s recovery, the outlook for MSTR shareholders, how Strategy is navigating volatility, and its ambition to be the JPMorgan of digital capital. Watch our full conversation. TIMESTAMPS: 00:00 Trailer 1:03 AI Needs a Satoshi Nakamoto 8:40 STRC’s Recovery: Buybacks or Higher Dividends? 11:36 What Caused STRC’s Selloff? 14:36 Strategy’s Plan to Restore Stability 20:05 How Strategy’s Cash Reserves Work 22:46 New Financial Products Built on STRC 27:02 Can Bitcoin and Wall Street Coexist? 34:35 MSTR Shareholders and Executive Compensation 40:41 Strategy’s Plans for STRC and Digital Credit 46:21 Why Strategy Wants to Be the JPMorgan of Digital Capital

Strategy

@Strategy

Stretch your income with $STRC.

Michael Saylor

@saylor

Educate the ₿ears.

Strategy

@Strategy

Last 3 months for $MSTR: +$32B (+80%)

Phong Le

@phongle

$STRC is a passenger jet. $BTC is a fighter jet. $MSTR is a rocket ship. Buckle up.

Michael Saylor

@saylor

Taking care of ₿usiness.

Chaitanya Jain

@CJ_Bitcoin

The $BTC and $STRC purchases were fully funded by our existing USD Assets.

Michael Saylor

@saylor

· View on X ↗

Strategy has acquired 950 $BTC and repurchased $174M of $STRC. As of 9/20/26, we hold 846,000 BTC and $6.09B of USD Assets. $MSTR strategy.com/press/strategy…

Strategy

@Strategy

Strategy has acquired 950 $BTC and repurchased $174M of $STRC. As of 9/20/26, we hold 846,000 BTC and $6.09B of USD Assets. $MSTR strategy.com/press/strategy…

Strategy

@Strategy

USD Duration is 3.8 yrs and STRC's BTC Credit is 53 bps assuming 10% BTC ARR, 40% BTC Vol, and a BTC price of $81,200. Learn more about Strategy's credit metrics: strategy.com/credit

Michael Saylor

@saylor

Strategy has acquired 950 $BTC and repurchased $174M of $STRC. As of 9/20/26, we hold 846,000 BTC and $6.09B of USD Assets. $MSTR strategy.com/press/strategy…

Michael Saylor

@saylor

USD Duration is 3.8 yrs and STRC's BTC Credit is 53 bps assuming 10% BTC ARR, 40% BTC Vol, and a BTC price of $81,200. Learn more about Strategy's credit metrics: strategy.com/credit

Chaitanya Jain

@CJ_Bitcoin

$BTC is the universal, perpetual, profitable merger partner.

Documenting ₿itcoin 📄

@DocumentingBTC

On August 11, 2020, Michael Saylor announced his business software company MicroStrategy would become the first public company to buy bitcoin. They bought 21,454 bitcoin for $250 million. Many financial analysts laughed at the idea. The announcement arrived alongside a separate plan to continue buying bitcoin. Both were presented as part of the company’s new capital allocation strategy. That first 21,454 bitcoin purchase is now worth approximately $1,700,000,000 today. Michael Saylor’s company has since become one of the most traded and valuable technology companies in the world.

Strategy

@Strategy

The history of finance is the history of transforming risk. Insurance did it for the physical world. We do it for the digital world.

Phong Le

@phongle

It’s great to watch the innovation across Bitcoin Treasury Companies. Second through fifth place will look very different in two years.

Strategy

@Strategy

· View on X ↗

$BTC treasury is a game of coopetition. Every new player grows the category and strengthens the ecosystem for everyone.

Chaitanya Jain

@CJ_Bitcoin

(M)orange

Michael Saylor

@saylor

· View on X ↗

A little more orange.

Michael Saylor

@saylor

A little more orange.

Strategy

@Strategy

$BTC treasury is a game of coopetition. Every new player grows the category and strengthens the ecosystem for everyone.

Michael Saylor

@saylor

My thoughts on why the rejection of CLARITY marks a positive inflection point for Digital Assets, and why supportive rules and free markets should now accelerate innovation and growth.

Michael Saylor

@saylor

· View on X ↗

x.com/i/article/2101…

Strategy

@Strategy

The Digital Assets industry is better off moving forward with supportive rules from the SEC, CFTC, Treasury, and banking regulators than accepting the restrictions in the final CLARITY compromise.

Strategy

@Strategy

$MSTR was the #1 performer in the Nasdaq-100 over the last month, up 48%.

Michael Saylor

@saylor

x.com/i/article/2101…

Michael Saylor

@saylor

Fetch Bitcoin.

Strategy

@Strategy

Build the ₿ridge. Stand on it. Show people it's not going to break. $BTC $MSTR

Michael Saylor

@saylor

Bitcoin takes you higher.

Michael Saylor

@saylor

Making ₿elievers.

Phong Le

@phongle

Five years will become perpetuity. Once investors experience faster, modern, always-on markets, there will be no going back, regardless of who is at the SEC, in the White House, or in Congress.

U.S. Securities and Exchange Commission

@SECGov

🚨 TODAY: The SEC issued an order granting temporary, conditional exemptive relief to Tokenized Securities Venues from the definition of “exchange” in the Exchange Act to trade tokenized NMS stock using innovative permissioned automated market makers and liquidity pools.

Strategy

@Strategy

Liquid. $MSTR

Michael Saylor

@saylor

The SEC’s innovation exemption enables 24/7 onchain trading of tokenized $STRC and $MSTR for U.S. investors through qualifying venues. A major breakthrough for Digital Credit and American capital markets.

U.S. Securities and Exchange Commission

@SECGov

🚨 TODAY: The SEC issued an order granting temporary, conditional exemptive relief to Tokenized Securities Venues from the definition of “exchange” in the Exchange Act to trade tokenized NMS stock using innovative permissioned automated market makers and liquidity pools.

Michael Saylor

@saylor

No ₿ear left behind.

Strategy

@Strategy

$STRC has a BTC Rating of 5.8x today. Even if $BTC falls to $13K, STRC’s BTC Rating would still be 1.0x.

Michael Saylor

@saylor

Bitcoin is crystal clear.

Phong Le

@phongle

Market and client demand will ultimately drive Bitcoin and digital asset adoption by banks. Deutsche is the largest bank in the largest economy in Europe.

Watcher.Guru

@WatcherGuru

JUST IN: 🇩🇪 $1.7 trillion Deutsche Bank launches crypto custody service for institutions.

Michael Saylor

@saylor

With CLARITY stalled, I expect the SEC, CFTC, and Treasury to advance rules under existing law, banks to expand Bitcoin custody and loans against it, and more capital to favor Bitcoin and digital credit. GENIUS supports stablecoin adoption. Progress need not wait for Congress.

Michael Saylor

@saylor

The only clarity you need is Bitcoin.

Strategy

@Strategy

Bitcoin has had legal and regulatory clarity in the U.S. for years. $BTC

Phong Le

@phongle

I lived and worked for two formative years in São Paulo. Brazil has more recently emerged as a leader in financial innovation and DIGY11 extends that leadership into Digital Credit. Congrats @ORANJEBTC.

OranjeBTC

@ORANJEBTC

Hoje, 15 de setembro, a partir das 10:00, chega à B3 o DIGY11. O primeiro ETF da nova economia digital, que reúne renda global com proteção cambial, paga mensalmente na sua conta e liquidez diária. Saiba tudo sobre o DIGY11 em digy11.com.br

Phong Le

@phongle

The path is clear: $STRC is becoming the digital platform for TradFi and DeFi to build digital money and yield products.

Michael Saylor

@saylor

Digital Credit has arrived in Brazil. 🇧🇷

OranjeBTC

@ORANJEBTC

Hoje, 15 de setembro, a partir das 10:00, chega à B3 o DIGY11. O primeiro ETF da nova economia digital, que reúne renda global com proteção cambial, paga mensalmente na sua conta e liquidez diária. Saiba tudo sobre o DIGY11 em digy11.com.br

Michael Saylor

@saylor

Liquid assets are ₿etter.

Strategy

@Strategy

Strategy’s USD Assets now cover 3.9 years of annual interest and dividends. $MSTR $STRC

Phong Le

@phongle

I spoke at a traditional finance conference today about the virtues of Digital Credit. A Private Credit company followed me. I wonder if this slide made their deck.

Michael Saylor

@saylor

The $STRC Investor Guide explains Strategy’s flagship Digital Credit instrument—a variable-rate cumulative perpetual preferred stock—covering dividends, seniority, liquidity, reserves, buybacks, tax treatment, credit metrics, comparisons, and risks. strategy.com/strc/brief

Strategy

@Strategy

Today is the last trading day to purchase $STRC and be entitled to the $0.50 dividend per share for the September 15 record date and September 30 payout date.

Chaitanya Jain

@CJ_Bitcoin

2 straight weeks of funding $STRC buybacks through USD Cash, without any incremental $MSTR issuance.

Michael Saylor

@saylor

· View on X ↗

Strategy has repurchased $139M of $STRC. As of 9/13/26, we hold 845,050 $BTC and $6.4B of USD Assets. $MSTR strategy.com/press/strategy…

Michael Saylor

@saylor

Strategy has repurchased $139M of $STRC. As of 9/13/26, we hold 845,050 $BTC and $6.4B of USD Assets. $MSTR strategy.com/press/strategy…

Michael Saylor

@saylor

USD Duration is 3.9 yrs and STRC's BTC Credit is 57 bps assuming 10% BTC ARR, 40% BTC Vol, and a BTC price of $77,266. Learn more about Strategy's credit metrics: strategy.com/credit

Strategy

@Strategy

USD Duration is 3.9 yrs and STRC's BTC Credit is 57 bps assuming 10% BTC ARR, 40% BTC Vol, and a BTC price of $77,266. Learn more about Strategy's credit metrics: strategy.com/credit

Strategy

@Strategy

Strategy has repurchased $139M of $STRC. As of 9/13/26, we hold 845,050 $BTC and $6.4B of USD Assets. $MSTR strategy.com/press/strategy…

Chaitanya Jain

@CJ_Bitcoin

Bitcoin began as digital cash. It matured into digital gold. It is becoming digital capital. The next frontier is digital credit, digital money, and a global financial system built on Bitcoin. We must transcend our prejudices and advance the frontier. $BTC