The Ledger
Every statement that passed quotation and attribution checks. Mix any filter with any other: certainty 1/5, debate potential 5/5, or both at once.
why aren't all 22 resolved? a statement only gets an assessment when the public record can support or contradict it. opinions and what-ifs never can, and 2 checkable ones are still open, waiting for their date. predictions held up or didn't; assertions are supported or contradicted. on every card: ▮▮▮▮▮ certainty · ▮▮▮▮▮ debate potential. speakers are clickable
Saylor: Bitcoin Is the Greatest Corporate Treasury Asset of Our Lifetimes
“Bitcoin is an exploding asset class. It's really a, it's the greatest treasury reserve asset of our lifetimes, and it's the solution to every company's treasury problem.”
Saylor: Converting Corporate Cash to Bitcoin Turns Liabilities Into Assets
“So if you take a company with cash and you invest in Bitcoin, you have invested, you have converted a liability to an asset.”
Saylor: Companies should convert cash, debt, and equity into Bitcoin
“So the big idea here is you want to fix any company, sweep all the cash flows into Bitcoin, convert the treasury into Bitcoin. Borrow against your future cash flows in dollars. Convert that into Bitcoin. Finance all your fixed assets in dollars. Convert that i…”
Saylor: Bitcoin will become a $10T primary global treasury reserve asset
“You know, people that understand Bitcoin think it's going to grow to become the 10 trillion dollar asset that gold is, and then it's going to replace negative yielding sovereign debt and then corporate debt and ultimately it will become the primary treasury re…”
Saylor: MicroStrategy's Two Strategies Are Selling Software and Holding Bitcoin
“The business has two strategies, and the first strategy is we sell business intelligence software to our customers, and the second strategy is we acquire and hold Bitcoin. That is the business.”
Saylor: Corporate cost of capital surged to 25% after March 2020
“The treasury problem is that subsequent to March, 20 20, the cost of capital exploded from eight percent to 25%. And you can see that in the performance of the S&P 500 index, which went from about eight percent a year for a decade to more than 25% in that next…”
Saylor: 5%-growth companies destroy value when cost of capital hits 25%
“You can't hold value in a company growing at five percent a year when the cost of capital is 25% a year. That's why the only thing you can buy is going to be a high tech stock that's growing. You need to buy a tech monopoly that can grow 20 or 25% a year.”
Saylor: MicroStrategy's Bitcoin will generate more value than software operations over 20 years
“The investment income for sure.”
Saylor: Money supply will expand 15% annually through 2029
“I think that 15% is, 15% for the next eight years is reasonable.”
Saylor: MicroStrategy bought $2.2B in Bitcoin and holds over $5B
“No we bought 2.2000000000 worth of Bitcoin. We own about five, a bit more than five billion, depending upon the day.”
Saylor: Google should have paid $1B for voice.com
“Like the truth is Google should have paid a billion dollars for the word voice. I mean, if they're going to try to launch a voice service, it's worth it to them.”
Saylor: MicroStrategy Issued $1B Convertible Offering at 0% Interest
“And then we did a billion dollar debt offering. And we did that billion dollar convert offering at zero percent interest.”
Saylor: MicroStrategy's Bitcoin Strategy Greatly Improved Recruiting and Retention
“It's been great for retention, and it's been great for recruiting.
We can get, we get people, first of all, the company's brand has been amped up by a factor of a thousand.
I mean, a lot more people know us now.”
Saylor: MicroStrategy's Bitcoin Cost Basis Is $24,000 With Permanent Capital
“Well, we have permanent capital, so it doesn't make a difference to us, right?
Like right now, for example, we have a three billion dollar investment gain.
So if you cut Bitcoin in half, we would still have an investment gain, right?
I mean, our basis is 24,00…”
Saylor: voice.com sold for $30M, largest naked domain sale in history
“I owned voice.com and I sold it for thirty million dollars a couple of years ago. That's the largest naked domain sale in the history of domains.”
Saylor: Premium single-word domains are undervalued scarce cyber real estate
“They're scarce real estate in cyberspace, and they'll always be good, and the world undervalues them”
Saylor: MicroStrategy Raised $650M in Convertible Debt at 75 bps
“Then we did a convertible debt offering for six hundred fifty million dollars of debt at 75 basis points.”
Saylor: MicroStrategy offered $250M Dutch auction buyback before buying Bitcoin
“So we offered to buy back two hundred fifty million dollars worth of the stock in this Dutch auction. So if you disagree with the decision to buy Bitcoin, you can sell the stock back at a profit. Our stock was one 20. We offered to buy the stock back at up to …”
Saylor: MicroStrategy's 2,000-person core software business generates $75M annually
“Well, all 2000 people doing a 100,000 things right perfectly for the entire year competing against Microsoft that has more money than God, they can generate seventy five million a year.”
Saylor: Bitcoin Hit $1T Faster Than Apple, Microsoft, Amazon, or Google
“It took Google 22 years to get to a trillion. It took Amazon 24 years to get to a trillion. It took Apple 42 years to get to a trillion. It took Microsoft 44 years to get to a trillion. It took Bitcoin 12”