Adam Livingston
Adam Livingston
BTC-0.56%
STRK-6.02%
🔥MICHAEL SAYLOR'S 200 IQ MASTERPLAN TO SIPHON THE $140 TRILLION FIXED-INCOME COMPLEX INTO BITCOIN🔥 @Saylor has engineered a 4-layer Bitcoinized capital stack: - 3 tiers of preferred equity - The legacy ATM - All non-recourse to Bitcoin itself - Only one dilutes common float The result? A sovereign-grade capital engine that harvests TradFi yield capital and transmutes it into BTC-per-share torque. 🧵Let's break down the genius masterplan 👇
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THE BTC ACQUISITION TRI-LEVER Saylor’s new capital engine uses 3 distinct capital levers: Yield Preferreds (STRF, STRD) → BTC buys without equity dilution. Convertible Preferred (STRK) → Hybrid optionality: yield for downside, upside kicker for BTC explosion. ATM (Common Equity) → Now used surgically to protect mNAV reflexivity. This structure mathematically decouples BTC accumulation from common equity float expansion.
WHY STRD IS THE SOVEREIGN-GRADE MASTERSTROKE $STRD gives Saylor absolute operational discretion: Non-cumulative: If macro deteriorates, coupons can be skipped with zero arrears. Callable: If BTC explodes, redeemed cheaply at par. No convertibility: BTC-per-share flywheel remains untouched. Result: Bitcoin balance sheet scaling with bond-like capital inflows, equity-like asset accretion, and zero embedded systemic risk to the common.
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