Nate Erskine-Smith, Diaspora Politics and a Hard Lesson for Liberals | CBP 264 Pt 2

About this episode

The episode discusses Michael Saylor's controversial comments on Bitcoin sales for dividends and various implications for the market and Canadian investors.

Saylor just broke Strategy's "NEVER SELL" Bitcoin rule. The $1.5B dividend math, the 11.5% yield, the Q1 -$12.5B net loss, and what it means for Canadian MSTR holders — explained.Michael Saylor told investors on Strategy's Q1 2026 earnings call that he will "probably sell some Bitcoin to pay a dividend, just to inoculate the market and send the message that we did it." Three days later he walked it back, saying the remark wasintended to "jam short-sellers and 'haters.'" Strategy holds 818,334 BTC at an average cost basis of $75,537. The annualized preferred dividend obligation is roughly $1.5 billion. Q1 net loss was $12.54 billion. Bitcoin briefly traded below $81,000 after the call.In this episode of the Canadian Bitcoiners Podcast:- The actual mechanism: buy with credit, let it appreciate, sell to fund preferreds- Why this isn't an MSTR "Ponzi" reveal — and why it kind of is- Sequans' 1,025 BTC sale, the $35.9M convertible-note pressure, and what "treasury reckoning" looks like in practice- Canada's first regulated CAD stablecoin: Tetra's CADD with Shopify and National Bank backing- Coinbase cuts 14% of staff for…

People in this episode

Hosts: Joey, Len

Guest: Nate Erskine-Smith

Topics covered

• Bitcoin market dynamics
• dividend strategies
• tax implications
• stablecoins
• corporate Bitcoin holdings
• political implications of Bitcoin

Keywords

• Bitcoin
• dividend
• MSTR
• tax
• stablecoin
• Canada
• Alberta
• Germany
• Netherlands

Mentioned in this episode

Organizations: Strategy, Coinbase, Tetra, Shopify, National Bank

Places: Canada, Germany, The Netherlands, Alberta

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