you can outperform the S&P500 by lending money to Saylor, who will use your money to buy an asset that vastly outperforms the S&P500, and the delta accrues to $MSTR shareholders
people who wonder how this business model could possibly sustain have one of two blind spots:
1 they don’t believe strongly enough in Bitcoin - they doubt that it will continue to mog $SPY.
2 they believe too strongly in Bitcoin - to the point where they don’t understand why anyone would buy anything *except* bitcoin (or simply don’t understand how much restriction is placed on institutional capital).
$MSTR bulls lie at the intersection of both: they understand that bitcoin is revolutionary, but that the transition from the current system to a Bitcoin-based system is a multi-decade, multi-trillion dollar process, at the nexus of which lies Michael fuckin Saylor.
Strategy preferreds are set up to outpace the S&P 500 on both absolute and risk-adjusted returns over the next cycle.
$STRD: 12.6%
$STRC: 9.2%
$STRF: 9%
$STRK: 8.5% + upside
The S&P 500 has delivered ~10–11% annually.
A correctly structured pref portfolio already clears that yield with less volatility.
And even if yields compress, prices rise boosting total return further.
That process feeds $MSTR’s ability to buy more BTC, making prefs more secure and less volatile over time.
This isn’t just income… it’s compounding stability.
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