"Fix the credit, fix the equity."

@Saylor and @PhongLe sat down with me for Strategy's live investor Q&A. No question off limits.

00:00 Trailer and welcome

2:44 Is Bitcoin money?

10:41 Bringing traditional finance capital into Bitcoin

14:19 A shareholder asks about the drawdown

17:35 Fix the credit, fix the equity

22:25 Will Strategy buy back MSTR?

24:24 Dilution concerns

26:32 The J.P. Morgan of Digital Assets

29:15 The MSCI index decision

32:47 Building a strong USD reserve

34:40 Playing the long game on credit

40:33 Will Strategy buy cash-flowing businesses?

42:49 Lessons from STRC drawdown

45:23 STRC was 80% retail, but now...

46:45 Monthly, quarterly, or daily dividends?

47:58 Will Strategy buy back STRK?

48:56 Could STRC trade above $100?

56:46 The long-term Bitcoin case in a bear market 58:09 AI, vulnerabilities, and institutional custody

59:49 Why dividends are paid in dollars, not Bitcoin

1:02:05 Strategy using AI for marketing videos

1:03:17 What Michael & Phong do to unwind