Crypto evangelist Michael Saylor has reworked Strategy from a loss-making software program firm into the world’s largest company holder of bitcoin. The FT unpacks what some traders have dubbed Saylor’s ‘infinite cash glitch’, and questions whether or not it may possibly survive a crypto crash
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00:00 – Introduction
02:24 – The FT stock-picking blunder
03:59 – The bitcoin proxy defined
06:23 – Trump-inspired bitcoin bull market
07:27 – Premium to web asset worth defined
08:41 – Buying on the rip
10:45 – Accretion not dilution
12:34 – The infinite cash glitch
14:55 – Reasons for and towards bitcoin
17:53 – Tariff-inspired bitcoin dip
18:35 – FTX and the restoration
19:51 – Strategy’s long-term debt and liquidity
20:55 – New merchandise, new cash
23:01 – The leap of religion
26:04 – The upshot
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