Un Podcast Sobre Bitcoin La asimetría Saylor: Imprimir dinero con la acción en mínimos
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Feb 18, 2026 A deep dive into how a firm kept a $100 security steady during a big Bitcoin slump. Discussion of using perpetual preferreds to fund Bitcoin purchases and the loop that can create. Debate over long-duration debt demand and how novel instruments might fill that gap. Consideration of using Bitcoin as digital capital backing new debt structures.
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Self-Reinforcing Debt-To-Bitcoin Loop
- Alberto Mera highlights that Strategy's STRC preferred shares trade at par despite Bitcoin's crash, because the company mints new shares to buy more Bitcoin.
- This creates a self-reinforcing mechanism that can sustain STRC price while Bitcoin fluctuates.
Structural Collapse In Long-Term Debt Demand
- Demand for very long-term fixed-income has collapsed as pension funds and insurers reduce exposure to long-duration government bonds.
- That structural gap creates space for non-sovereign issuers to offer perpetual-like instruments such as STRC.
Corporates Filling The Long-Dated Void
- Big corporates and tech firms can and have filled the long-term issuance void, showing there is demand if issuers offer attractive terms.
- Alberto Mera argues Strategy is filling that vacuum by selling STRC to supply long-duration capital.