Innovations in Institutional Bitcoin Exposure. Bitcoin Tech Talk Issue #220

Preston Pysh this past week published a great interview with Michael Saylor. It’s a bit long, but is definitely worth a listen. If you don’t have time to listen to 3 hours of what Michael Saylor thinks will happen to Bitcoin and why, here’s a short summary: money in almost everything is suffering from some pretty terrible macro pressures and a lot of that money will find its way to Bitcoin.

One of the most interesting parts of that podcast was how many funds are restricted in what they can invest in and it takes bridges from Bitcoin to these funds for them to invest. It can be very profitable to build such bridges. Saylor explained that his $450M convertible note was really a way for bond investors to get exposure to Bitcoin. He could do that because his company has plenty of cash flow and assets to make this note very low risk. What was interesting is that he designed the note so that the investors could get some of the Bitcoin upside.