Strategy co-founder and its executive chairman, Michael Saylor, has shared a full recording of his public talk at the BTC Prague crypto event that took place last week. Blockstream CEO Adam Back also took part in the talk.
In his chat, Saylor covered several important Bitcoin-related topics, including those related to BTC treasury companies, and answered some questions from the audience.
Saylor reveals BTC treasury company’s mechanics
Starting his talk with cypherpunk legend and Satoshi Nakamoto’s ally, Adam Back, Saylor referred to Bitcoin as a “monetary virus” or as an “idea”, he called corporations the “superspreaders” of Bitcoin.
My Views on BTC Theory and Practice at @BTCPrague.
4:07 BTC Business Models, Treasury Theory & Growth Dynamics
13:30 BTC Equity Models & Metrics (BTC Yield, BTC Gain)
18:10 BTC Credit Models & Metrics (BTC Rating, BTC Risk, BTC Credit)
21:25 Logic of BTC Perpetual Preferreds… pic.twitter.com/fkra9vmYp3— Michael Saylor (@saylor) June 28, 2025
One of the topics discussed by Saylor was how a Bitcoin treasury company works and he suggested that even a retail dentist could start with accumulating a few hundred thousand dollars worth of Bitcoin per year, then turn into a public company, issue securities, sell them, and buy millions of dollars worth of BTC. Public companies are the best for this purpose, Saylor believes.
He also stated that despite hundreds of trillions of dollars circulating in various financial markets, “the long-term durable business is to issue BTC-backed credit instruments and issue billions, and tens of billions, and hundreds of billions” of profit.
Saylor also elaborated on various metrics and models Strategy came up with, such as BTC gain and BTC yield, BTC rating, BTC risk, and BTC credit. Saylor also discussed Strategy-created STRK and STRF credit instruments.
Saylor calls Bitcoin “monetary virus”
As mentioned above, for Saylor Bitcoin is a “monetary virus” that is rapidly transforming the financial system and the world along with it. He believes that the way people and companies interact with Bitcoin are various and they are evolving rapidly. Crypto exchanges might stay in the past if individuals/corporations/banks start trading Bitcoin peer-to-peer between each other, he said.
And what is the status quo now may change radically in five years. He added that Bitcoin offers great opportunities for building layer-2 networks on it, concluding his talk that “there is no second best” to the idea of Bitcoin and what it can do in the future.
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