Highlight clip: Michael Seiler: Digital credit is our product, MSTR is just a byproduct Michael Seiler: Digital credit is our product, MSTR is just a byproduct On October 20, 2026, Michael Seiler explained in an interview with the Schwab Network that a strategy converts Bitcoin into dividend-paying digital credit products to meet the cash flow needs of another investor group. According to him, the support in the prices of these products and their return to the level allows the company to continue to issue them and expect a premium to the net asset value, which is why Strategy uses capital to buy back preferred shares. If the credit business doesn't work, Strategy is simply a Bitcoin holding company. - Link.

Highlight clip: Michael Seiler: Digital credit is our product, MSTR is just a byproduct Michael Seiler: Digital credit is our product, MSTR is just a byproduct On October 20, 2026, Michael Seiler explained in an interview with the Schwab Network that a strategy converts Bitcoin into dividend-paying digital credit products to meet the cash flow needs of another investor group. According to him, the support in the prices of these products and their return to the level allows the company to continue to issue them and expect a premium to the net asset value, which is why Strategy uses capital to buy back preferred shares. If the credit business doesn't work, Strategy is simply a Bitcoin holding company. - Link.