Michael Saylor says Bitcoin collateral alone insufficient for credit buyers, Strategy now holds 3.5 years dividends in cash

Strategy executive chairman Michael Saylor admitted at ParaFi Investor Day that credit investors preferred a cash cushion over Bitcoin backing for the company's 12% preferred stock. He stated credit buyers would rather see three years of dollars than 30 years of Bitcoin, noting Strategy now holds about three and a half years of dividends in cash. Saylor also revealed the company aims to pay STRC dividends daily and expects the stock to trade 200-300 basis points tighter than current levels once digital credit matures.