Analyzing MicroStrategy's new preferred stock strategy that requires $400M in annual dividends while their core business only generates $111M in revenue. Are Bitcoin treasury companies creating a bubble?

Michael Saylor's controversial pentagram post and MicroStrategy's pivot to preferred stocks. With 145+ companies now adopting Bitcoin treasury strategies and institutions holding 10% of all Bitcoin, we explore whether this paper Bitcoin summer represents genuine adoption or a dangerous leveraged bubble waiting to burst.

Subscribe to the newsletter! https://newsletter.blockspacemedia.com

**Notes:**

• MicroStrategy owes $400M annually in dividends

• Core business only generates $111M revenue

• 145 Bitcoin treasury companies now exist

• Institutions hold 10% of Bitcoin supply

• Daily institutional buying 10x mining rate

• Treasury companies bought 39K BTC/month

Timestamps:

00:00 Start

00:48 Bitcoin's "Defense Dept"

03:04 Preferred stock pivot

04:40 Where does the yield come from?

07:29 Dividends can't come from company profits

19:22 MSTR memes

-

👋Bitcoin Season 2 is produced Blockspace Media, Bitcoin’s first B2B publication in Bitcoin. Follow us on Twitter and check out our newsletter for the best information in Bitcoin mining, Ordinals and tech!

Enjoy the show? Check out our website and newsletter by clicking here.

Questions or want to sponsor? hello@blockspace.media

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

BITCOIN SEASON 2: Saylor Is Lapping The Bitcoin Treasury Competition

CoinDesk Podcast Network