Michael Saylor Compares Bitcoin to Fighter Jet, STRC Shares to Passenger Jet
Michael Saylor, Executive Chairman of Strategy, described Bitcoin as a fighter jet and the company's STRC preferred shares as a passenger jet during a CNBC appearance. He said Bitcoin reached a high near $125,000 in October and may have bottomed near $60,000.
BenzingaMichael Saylor, Executive Chairman of Strategy, appeared on CNBC on Thursday to discuss Bitcoin and the company's preferred stock offering. Saylor said Bitcoin reached a high near $125,000 in October and may have bottomed near $60,000. He stated the market is now moving into the spring phase with decent support at current levels.
He indicated he expects a rally from here while acknowledging that a few macro headwinds remain in play.
Saylor characterized Bitcoin as a fighter jet and Strategy's STRC preferred shares, known as Stretch, as a passenger jet for investors who want a smoother trip. The common equity absorbs the volatility and the upside, he said. The pitch positioned STRC shares as a calmer way to gain exposure to Bitcoin price movements.
Key Facts
Story Timeline
2 events- October
Bitcoin reached a high near $125,000.
1 sourceBenzinga - Thursday
Michael Saylor appeared on CNBC to discuss Bitcoin and STRC shares.
1 sourceBenzinga
Potential Impact
- 01
Investors may consider STRC shares as an alternative exposure to Bitcoin volatility.
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