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Our Q3 2026 $MSTR Earnings Call covered record financial results, Digital Capital, Digital Equity, Digital Credit, tokenization, and our strategy for the next bull market.
Andrew Kang | Q3 Financial Results
00:01:32 - Q3 highlights: 848,517 BTC, record earnings, and treasury growth
00:06:19 - Capital raising, USD Assets, and balance sheet strength
00:09:31 - Daily dividends approved: $STRC begins November 1
Phong Le | Digital Equity and Digital Credit
00:14:02 - $MSTR as Amplified Bitcoin: Q3 outperformance and Bitcoin Per Share
00:18:44 - Fortress balance sheet, mNAV, and positioning for the next bull market
00:24:45 - Digital Credit growth and $STRC's return to par
00:27:37 - Return of capital and tax-efficient Digital Credit
00:29:22 - Capital framework: USD Assets, Bitcoin monetization, and repurchases
00:33:09 - BTC Hurdle ARR, BTC Breakeven ARR, BTC Floor ARR, and Digital Credit risk modeling
00:41:22 - $STRC performance, institutional adoption, and daily dividends
Michael Saylor | Bitcoin and Digital Capital
00:47:14 - Bitcoin's next bull market, dominance, and the 2028 halving
00:50:05 - Regulatory guidance, banking adoption, and Bitcoin supply dynamics
00:56:01 - Tokenized $MSTR and $STRC: 24/7 global capital markets
01:02:05 - AI disruption and the value of scarce Digital Capital
01:07:19 - Quantum computing, Bitcoin security, and long-term potential
01:15:45 - Bitcoin treasury companies and the expanding Digital Credit ecosystem
01:20:12 - Digital Capital, Digital Credit, Digital Equity, and Strategy's central bank vision
Live Q&A
01:28:03 - Andrew Harte, BTIG: How does a stronger balance sheet change Strategy's next bull market playbook?
01:32:20 - Khing Oei (@khingoei): Equity ATM issuance, mNAV, capital allocation, and scaling institutional demand for $STRC?
01:36:14 - Alex Thorn (@intangiblecoins), Galaxy: Plans for $STRF, $STRD, $STRK, and $STRE?
01:40:41 - Pete Christiansen, Citi: Does Bitcoin financialization introduce leverage and counterparty risk?
01:48:25 - Scott Melker (@scottmelker): Tokenized $MSTR and preferreds, U.S. access, and Strategy's plans for tokenization?
₿ased UTXO⚡️ ∞/21M retweeted
SIR PATRICK STEWART (1940-2026)
Before everything else, Patrick was defined by being born and bred in Yorkshire, the proud county in the north of England which he loved to the end. You could hear it in his accented voice and in the stern honesty with which he told you what he thought and felt. Yorkshiremen have no truck with half-truths or avoidance of big issues. He wore his heart on his sleeve, which made him a man to rely on, to admire and in my case, love.
We first met as ambitious young actors with the Royal Shakespeare Company half a century ago but we weren’t in the same productions. My first strong memory was a few years later, meeting him in the street in central London when he told me about an offer to take over a leading part in 'Star Trek'. “But Patrick think of your stage career in the UK. Do you really want to risk—getting lost in Hollywood for years and years?”. Well, he took the risk and thank goodness for us all that he did for not just his devoted Trekkies but film and theatre audiences, who marvelled at his using international celebrity to star in a string of cinema successes ('X-Men' of course) and in great classical plays by Shakespeare, Ibsen, Arthur Miller, Peter Shaffer, Pinter and Beckett at Stratford-upon-Avon, in London’s West End and on Broadway.
America was his adopted home, where he met his adored Sunny who has cared for him through sickness and health, through thick and thin. But he never forsook his origins: and the proudest achievement of the most respected and beloved actor of his generation on either side of the Atlantic, was his appointment as Chancellor of Huddersfield University in Yorkshire.
His farewell performance in 'Avengers: Doomsday' is yet to be seen.
Ian McKellen 29 October 2026
Photo: University of Huddersfield
₿ased UTXO⚡️ ∞/21M retweeted
everyone is FUDDING AI as an attack vector for BTC, but I have to say, the decision to keep the software simple, the attack surface small, and extensively vet every change looks incredibly prescient right now.
if anything, AI hacking the shit out of everything validates the approach BTC Core has taken over the past decade to move slowly and resist adding complex functionality that cryptards said was essential and the absence of which made BTC obsolete.
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What a heartbreaking week it has been. Sir Patrick Stewart was a friend, a colleague, and a magnificent actor. From the stage to the bridge of the Enterprise, he brought intelligence, grace, and a deep sense of humanity to everything he did. Captain Picard stood for the best of us, and so did the man who played him. I was filled with affection and admiration for him and his work.
My heart goes out to Sunny and his family. He will be deeply missed.
₿ased UTXO⚡️ ∞/21M retweeted
Join our Q3 2026 Earnings Call now: nitter.cf/i/broadcasts/1dKrPrXyY…
₿ased UTXO⚡️ ∞/21M retweeted
Bitwise projects $BTC to be a 34% ARR / 28% Vol asset for the next 10 years, with a $1.6 million price target by 2036.
Our “2027 Bitcoin Long-Term Capital Market Assumptions” report is live.
Ten-year forecasts for bitcoin’s return, volatility, and correlation to stocks.
Base case: BTC to $1.6 million by 2036.
bitwiseinvestments.com/crypt…
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₿ased UTXO⚡️ ∞/21M retweeted
Saying there’s no reason to own Bitcoin because AI can hack a crypto app is like saying there’s no reason to speak English because AI can hack a messaging app.
₿ased UTXO⚡️ ∞/21M retweeted
New interview on Digital Credit with @CJ_Bitcoin of Strategy, hot off the press.
Check it out in @saturn_credit's debut episode of Escape Velocity.
Introducing Escape Velocity, a Saturn podcast exploring the future of digital finance.
For our debut episode, we're joined by Chaitanya Jain (@CJ_Bitcoin), Head of Bitcoin Products & IR at @Strategy.
We dive into $STRC buybacks, sustaining $MSTR's Bitcoin amplification, bringing digital credit onchain, and more.
Timestamps:
00:45 CJ's Journey from Blackstone to Strategy
02:30 Strategy's Business Model: More Than Leveraged Bitcoin
08:02 Who Owns STRC? Retail vs. Institutional Investors
11:59 Institutional Demand for STRF, STRD, and STRK
14:02 Has the Selling Pressure from June Finally Ended?
17:15 Why Is STRC's Dividend Rate 12%?
30:55 Are STRC Buybacks a Sign of Weak Demand?
33:20 Strategy's Plans for Its Other Preferred Stocks
39:16 Did Strategy Grow STRC Too Quickly? How Big Can It Get?
45:49 Why Doesn't STRC Have the Same Investor Protections as SATA?
49:32 Why Not Let STRC Trade Above $100?
54:16 Can Strategy Maintain Bitcoin Amplification at Scale?
57:01 STRC vs. MSTR: Are Shareholder Interests in Conflict?
1:00:03 Do STRC Buybacks Undermine the Benefits of Perpetual Financing?
1:03:09 Maximizing Bitcoin per Share: When Should Strategy Issue Equity?
1:08:25 Behind the Scenes: How Strategy Makes Capital Allocation Decisions
1:14:02 Bringing Digital Credit Onchain with Saturn
1:17:35 Who Will Buy STRC During a Bitcoin Bull Market?
1:20:47 The Future of Onchain Credit: Global Access and Structured Products
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My podcast conversation with @saturn_credit (@kevinlhr88, @eosborn88). We cover many challenging and nuanced questions on $STRC including buybacks, dividend rate, target price range, and onchain structuring.
Reminder: @Strategy's Q3 2026 earnings call is this Thursday, October 29 at 5 PM ET.
Timestamps:
00:45 CJ's Journey from Blackstone to Strategy
02:30 Strategy's Business Model: More Than Leveraged Bitcoin
08:02 Who Owns STRC? Retail vs. Institutional Investors
11:59 Institutional Demand for STRF, STRD, and STRK
14:02 Has the Selling Pressure from June Finally Ended?
17:15 Why Is STRC's Dividend Rate 12%?
30:55 Are STRC Buybacks a Sign of Weak Demand?
33:20 Strategy's Plans for Its Other Preferred Stocks
39:16 Did Strategy Grow STRC Too Quickly? How Big Can It Get?
45:49 Why Doesn't STRC Have the Same Investor Protections as SATA?
49:32 Why Not Let STRC Trade Above $100?
54:16 Can Strategy Maintain Bitcoin Amplification at Scale?
57:01 STRC vs. MSTR: Are Shareholder Interests in Conflict?
1:00:03 Do STRC Buybacks Undermine the Benefits of Perpetual Financing?
1:03:09 Maximizing Bitcoin per Share: When Should Strategy Issue Equity?
1:08:25 Behind the Scenes: How Strategy Makes Capital Allocation Decisions
1:14:02 Bringing Digital Credit Onchain with Saturn
1:17:35 Who Will Buy STRC During a Bitcoin Bull Market?
1:20:47 The Future of Onchain Credit: Global Access and Structured Products
₿ased UTXO⚡️ ∞/21M retweeted
The loudest opponents of Bitcoin seem to be those who either missed it, dismissed it, or sold it early, and each of them appear to be driven by nothing more than painful regret.
₿ased UTXO⚡️ ∞/21M retweeted
Abundance from Super Intelligence will create exponential value for scarce assets.
Bitcoin will be the most valuable scarce asset.
The optimal play: learn & use Super Intelligence & buy Bitcoin.
Ignore FUD from those who've been consistenly wrong.
₿ased UTXO⚡️ ∞/21M retweeted
David Attenborough: Bitcoiners in the wild 🦍🟠₿
In this film, we follow one of the most fascinating and least understood species on planet Earth… the Bitcoiner
If you enjoyed this, a like and repost. Follow for more Bitcoin comedy 🧡
₿ased UTXO⚡️ ∞/21M retweeted
.@jack thinks bitcoin payment adoption isn’t where it should be. We want your ideas on how @Blocks, Spiral, and you can increase adoption within 5 years. Our trajectory needs changing. Here’s more on our thinking. Now we want yours: github.com/spiralxyz/bitcoin… View article
