Michael Saylor: 'We Tripped Over' the World's Most Efficient Tax-Deferred Income

MicroStrategy founder Michael Saylor took the Consensus mainstage to unveil what he calls the killer app for Bitcoin: digital credit. Saylor explained how his company's STRC instrument, now the biggest and most liquid preferred stock in the world after just eight months, strips yield from Bitcoin's volatility to create an 11.5% tax-deferred return with near-zero volatility. He argued that digital credit is the missing bridge between Bitcoin and crypto, TradFi and DeFi, and that it opens the door to a new generation of yield coins that could transform the $350 billion stablecoin market and beyond.

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Timecodes:

00:00 - Michael Saylor at Consensus Miami 2026

01:28 - How Digital Credit Works

04:47 - Bitcoin vs MSTR vs STRC Performance

07:27 - STRC Becomes The World's Biggest Preferred Stock

12:55 - The Bridge To Digital Money And Yield

18:27 - The DeFi Opportunity For Builders

19:46 - How Yield Coins Are Replacing Stablecoins

22:34 - Building The Future Of Digital Credit