Microstrategy > Blackrock
You understand the
difference between having $16bn forever that you can leverage versus having $22bn that people can withdraw tomorrow.
Massive, large digital capital base
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Invest what you are personally excited enthusiastic about!
You want to be desirable, play hard to get which means … you don’t want anybody to take you.
When the covenants become restrictive, pay it off.
Maybe my new strategy is to try to finance, get capital or start up capital for friends and family, at a marginal interest rate like one percent, sell micro strategy stock or whatever, to pay off the debt obligations, or to just pay off the debt in about 3 to 5 years? For example, if you could secure $1 million of funding, at one percent, But the due date isn’t five years from now, this is a good idea.
The playbook is out there, just follow it!
Growth machine, growth beast! ***
Own 1.3% of the worlds bitcoin 
Imagine if you could own 1.3% of all the money in the world, forever. Big deal.
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This is the most valuable asset in the world. 
The Bitcoin finance company ***
Present a very very big vision, and people will follow.
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Big risks, big rewards.
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With $1 million of bitcoin, trillion dollar company
We are not here to diversify ***
Diversification is for suckers
150% bitcoin company
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3M to 30B
Digital capital is better than analog capital. Everyone’s going to think you’re crazy, until you’re right, 10 or 15 years from now. For example, 10 to 15 years ago, everyone thought that Apple Google Facebook and Amazon was a bad idea, but now it is supposed to obvious . If you want superior yield, it cannot be obvious.
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Massive yield, just one week
the arbitrage is $500mn made in five days.
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Six days not six years
Superfast cycle which is 100% transparent . Everyone knows what day and you are going to do!
Super homogenous credit; we are giving people 100% what they want!
Branding is Reliability 
Maybe what branding is is simply giving people what they want? What you promised them? 
When people expect something out of you, and you follow through 100% the time, and you never deviate… This is what branding is all about? 
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Give Them What They Need and Want! 
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Sustainable, Not Sustainable Business? 
It seems that the only truly sustainable potential businesses on the planet don’t have to deal with some sort of analog, physical world. It must be digital.
So thinking about the future and investing in and towards the future; invest in digital. 
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Permanent equity capital
30 year swap
You can’t create more bitcoin, but you could create more debt, more US dollars?
Can you swap gold for bitcoin?
We’re the only bitcoin refinery, standard oil
Standard bitcoin
98% of value in Bitcoin
The only risk I’m taking is bitcoin risk
Pure play –> don’t diversify.
I only own bitcoin and micro strategy stock?
Live or die based on bitcoin ***
Don’t lend out your bitcoin
A bank that decides not to lend? ***–> insanely big idea.
Fixed income market
Yield or capital gain
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1 Million bitcoins, one nakamoto

One Nakamoto is like the heaven, one million bitcoins
Toxic capital, low volatility
Virtuous capital