MSTR Just Built an Infinite Bid for Bitcoin

Is Strategy (MSTR) building an infinite bid for Bitcoin?
And did Michael Saylor just upgrade the most powerful Bitcoin treasury flywheel in the world?

In this episode, we sit down with Dan Hillery (Buck Token) to break down how MSTR’s new preferred equity product STRC (“Stretch”), combined with aggressive ATM stock issuance, may have created a perpetual Bitcoin-buying machine.

We cover:
How MSTR can keep buying Bitcoin even at 1x NAV
Why STRC demand is “insatiable” at 10–11% yield
The new MSTR flywheel: Common stock + STRC + Bitcoin
Whether MSTR is becoming the buyer of last resort for Bitcoin
If this breaks the traditional 4-year Bitcoin cycle
Why this could end future Bitcoin bear markets
The rise of Bitcoin treasury companies (MSTR, SATA, Metaplanet)
Buck Token: a “savings coin” backed by STRC and Bitcoin yield

This conversation dives deep into:
Bitcoin treasuries, Strategy’s capital structure, preferred shares, NAV mechanics, dilution myths, digital credit, and why the bond market could be disrupted by Bitcoin-backed yield products.

If you care about:
Bitcoin
Strategy (MSTR)
STRC / Stretch
Bitcoin treasury stocks
Michael Saylor
Bitcoin yield
The future of money

…this episode will change how you see Bitcoin forever.

00:00 Introduction: Dan Hillery (BuckToken) + what’s covered (2026 outlook)
02:08 Dan’s background: engineering → quant finance → MSTR options
05:53 Bitcoin entry + why 2021 burned people / 2022 reset
07:24 Strategy’s evolution: cash → BTC → converts → ATM machine
11:37 MNAV → ~1: why it happened + what it means now
16:28 The new flywheel: common ATM + STRC issuance together
20:08 “Manufacturing a floor” in BTC + why messaging matters
21:26 Will STRC yield drop? (constraints + why they may hold it)
28:58 Buck Token: the “savings coin” built on STRC (why it exists)
40:55 How Buck works: collateral (STRC + USDC), DAO rewards, black swans
46:01 2026 outlook: 4-year cycle vs power law + closing thesis



Big thanks to Little Bubble for allowing us to use his song: "One Chair": https://open.spotify.com/track/0XW7Jg...

Follow our Guest:
Dan Hillery: https://x.com/hillery_dan
Buck Tocken: https://x.com/BuckToken
Buck Tocken: https://buck.io/

DISCLAIMER: This is not is financial advice. This podcast is for educational and entertainment purposes only.

Thank you for listening!

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#bitcoin #michaelsaylor #finance #mstr #metaplanet #investing #investment