Michael Saylor, founder and executive chairman of Strategy, took the Nakamoto Stage at Bitcoin 2026 on Tuesday to argue that a nine-month-old preferred stock instrument has become the fastest-growing credit product in the world — and that its expansion is only getting started.

The keynote, framed around what Saylor calls digital credit, was a structured pitch for STRC, Strategy’s Variable Rate Series A Perpetual Stretch Preferred Stock, which trades on Nasdaq near its $100 par value and pays an 11.5% annualized monthly dividend. 

He opened with a premise that set the tone for everything that followed: “The world is built on capital. The world runs on credit.”

For…

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