In the murky depths of financial discourse, one comes across a figure, Michael Saylor, a man whose words dance with the fervor of a revolutionary poet. He declares, with a tone that oscillates between grandiosity and sheer bewilderment, that Strategy, his esteemed enterprise, is morphing into what he audaciously terms a “central bank of Bitcoin.” It is as if he believes himself to be the modern-day Prometheus, bringing the fire of Bitcoin to the masses, while simultaneously navigating the treacherous waters between traditional monetary realms and the elusive Bitcoin network.
In a rather revealing tête-à-tête with Gatecast-one can only imagine the somber atmosphere, perhaps scented uncomfortably with the musk of ambition-Saylor reminisced about the cataclysmic upheaval of 2020. The world at that time was akin to a body without a head, stumbling through a pandemic with a financial system that seemed as stable as a house of cards in a storm. He frames this existential crisis as a moment of divine revelation when Strategy stumbled upon Bitcoin amidst the chaos of “the war on COVID and the war on currency.” One cannot help but chuckle at the irony; in seeking refuge from a “miserable existence,” they discovered a digital savior.
Strategy: The Unlikely Central Bank of Bitcoin
Ah, but dear reader, here lies the crux of Saylor’s bold proclamation. He defends his company’s transformation with all the zeal of a prophet-often misunderstood, he insists. Critics, those poor souls, suggest that Strategy is merely leveraging itself to buy more Bitcoin, blithely ignoring his claims of raising an astonishing $44 billion over the past year and a half. “Most of that,” he professes, is equity, not debt. “There isn’t really leverage,” he insists, as if claiming innocence while caught in the act. Equity, he suggests, is akin to a pet turtle-something you have forever, unlike those pesky debts that demand payment like an overbearing landlord.
As the conversation deepens, one senses Saylor embracing the idea that perhaps they are more than mere buyers; they might just be the shadowy figures behind a new digital central bank. “Bitcoin is digital capital,” he states, as if unveiling the secrets of the universe. “It replaced gold, the ancient beacon of value,” he adds, invoking images of alchemists and treasure seekers of yore. In his rendering of reality, banks are mere purchasers of credit, while Strategy, the noble crusader, sells it instead. Oh, the delicious irony of reversing commercial banking practices! What a delightful twist in this grand narrative!
Now, as Saylor charts this ambitious course, he introduces us to a product stack designed to metamorphose Bitcoin’s balance-sheet assets into yield-bearing wonders for those reluctant to hold BTC directly. He describes STRC as a currency “pegged to the dollar” and “backed by Bitcoin,” creating a curious loop where proceeds are funneled back into Bitcoin acquisitions. One can’t help but marvel at how he bridges “the Bitcoin economy” with “the traditional finance economy,” as if weaving together disparate threads of existence.
Michael Saylor: “We are sort of like the central bank of Bitcoin.”
– TFTC (@TFTC21) January 22, 2026
Yet, the true material shift, he warns us, lies in Strategy’s departure from maturity-driven debt towards perpetual structures. Saylor elaborates, laying bare a four-stage evolution that sounds more like a philosophical journey than a financial strategy. From initial credit use to perpetual preferred equity-his journey reads like an epic quest, adorned with trials and revelations-each step a testament to their refusal to permit principal to ever come due.
“I’d rather pay 10% forever than 5% for 5 years,” he proclaims, a declaration that echoes through the corridors of financial history, inviting both admiration and incredulity. With a $1.44 billion cash reserve for dividends, he posits that they can remain aloof from the whims of capital markets-a claim that feels as outrageous as it is intriguing. Who knew the path to financial security could resemble a whimsical fairy tale?
And, of course, liquidity is presented as the pièce de résistance. Saylor argues that Strategy has managed to raise $7 billion recently through these instruments, creating a market that is supposedly bustling with vigor. “Digital credit instruments trading 30 million a day!” he exclaims, conjuring images of bustling stock exchanges where the aromas of wealth waft through the air. Ah, the charming allure of capital markets!
As Saylor wraps up his impassioned plea, he delineates the world into two factions: the capital buyers and the credit buyers. “Bitcoin is digital capital, but the world will run on digital credit,” he prophetically asserts. One can almost see him standing atop a mountain, arms outstretched, proclaiming this newfound truth to the world. And there, at the end of it all, BTC sits at $89,250, a silent witness to this unfolding drama.
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2026-01-24 03:21