finance
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.
May 21, 3:18 PM·1m read1 source
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Michael 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.
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