MSTR at 6x mNAV? The Buyback Mechanism Bears Aren’t Ready For

Michael Saylor’s Strategy (MSTR) just changed the Bitcoin market forever.In this deep-dive conversation, Chase Palmieri (COO at Sovana & Founder of Acropolis) breaks down the latest Strategy earnings call, STRC, Bitcoin treasury companies, digital credit, MSTR valuation, Metaplanet, Jack Mallers’ XXI, and why Bitcoin-backed financial products could disrupt global banking.We cover:• Why Strategy’s earnings call was so important• The real meaning behind STRC and digital credit• How Strategy could buy back MSTR shares• Why Bitcoin treasury companies are just getting started• Basel rules, S&P 500 inclusion & future credit ratings• Why banks may soon wrap STRC products• The hidden risks (and opportunities) of DeFi on STRC• MSTR valuation, mNAV & Bitcoin price targets• Metaplanet, XXI, Strike & the next wave of Bitcoin companies• Why Bitcoin treasury products may become the new global carry tradeFollow our guest:- Chase Palmieri: https://x.com/chasepalmieri- Sovana: https://x.com/SovanaHQ- Sovana: https://www.sovana.io/00:00 Chase’s Bitcoin Origin Story03:47 How Chase Discovered Strategy & MSTR06:05 Strategy Earnings Call: Biggest Takeaways08:20 Convertible Debt, Preferreds & Capital Strategy09:59 Which Strategy Preferreds Could Be Retired?11:45 Why Strategy Keeps Its Software Business14:38 Could MSTR Reach a 6x mNAV?19:46 STRC’s Growth During a Down Market20:36 Strategy’s Credit Rating & USD Reserve23:44 Banks, STRC & the Coming Yield War25:07 Can STRC Become a High-Yield Cash Alternative?28:14 DeFi Risks Built on Top of STRC32:36 Why STRC’s Yield May Stay High36:04 Digital Credit in a Bitcoin Portfolio36:38 Digital Credit: Portfolio Positioning and Growth41:03 Could Digital Credit Yields Reach 25%?43:19 Other Bitcoin Treasury Companies to Watch48:14 Macro Outlook: Has Bitcoin Bottomed?50:08 The Next Wave of Bitcoin Treasury Companies52:03 Jack Mallers, Strike, XXI & Tether58:33 Bitcoin & MSTR Price Targets for Year-End59:39 Closing ThoughtsBig thanks to Little Bubble for allowing us to use his song: "One Chair": https://open.spotify.com/track/0XW7JgR2Nlg7WXGOeVT64h?si=a344b82984f74f81DISCLAIMER: This is not is financial advice. This podcast is for educational and entertainment purposes only.Thank you for listening!Follow us on:- X: https://x.com/OneChairPod- Youtube: https://www.youtube.com/@OneChairPodReferral links:- Roxom: https://roxom.com/auth/signup?referral=a7m4wx