Strategy (NASDAQ:MSTR) Executive Chairman Michael Saylor on Thursday appeared on CNBC to pitch his company’s preferred stock as a calmer way to ride Bitcoin (CRYPTO: BTC), telling viewers the digital asset appears to be turning a corner.

Saylor said Bitcoin topped out near $125,000 in October and may have bottomed around $60,000, suggesting the market is now “moving into the spring phase” with what he described as decent support at current levels.

He indicated he expects a rally from here, while acknowledging that a few macro headwinds remain in play.

A Fighter Jet And A Passenger Jet

The pitch leaned on a metaphor.

Saylor characterized Bitcoin as a fighter jet, while framing Strategy’s STRC preferred shares, known as “Stretch,” as a passenger jet for investors who want a smoother trip.

The common equity absorbs the volatility and the upside, he said, while the credit product pays a fixed dividend he pegged at an annualized 11.5%.

The company appears to be running that playbook aggressively.

A filing dated May 18 showed Strategy sold roughly $1.95 billion of STRC and acquired 24,869 Bitcoin in the same week, lifting its treasury to 843,738 BTC.

The pace lends weight to Saylor’s contention that the credit product is absorbing the organic supply of Bitcoin coming from miners, effectively functioning as jet fuel for the firm’s accumulation.

The Clarity Act Tailwind

Asked what could push Bitcoin higher, Saylor pointed to Congress.

He said passage of the Clarity Act would be a big deal, adding that even without it, regulatory guidance allowing the tokenization of securities could move the market.

Polymarket traders currently think there is a 56% chance that the Clarity Act will be signed into law in 2026.

The odds have dropped since it passed the Senate Banking Committee, with disagreements still remaining regarding provisions limiting government officials from profiting from crypto.

Why The Crowd Is Skeptical

On Strategy’s May 5 earnings call, management outlined expanded capital options, including the once-unthinkable idea of tactically selling Bitcoin to fund dividends or repurchase equity.

That structural pivot sent the Polymarket contract on whether Strategy will sell Bitcoin in 2026 surging from the low 30s to over 90%. It’s fallen slightly to 82% now.

With Bitcoin trading near $78,000, Kalshi traders have assigned roughly a 47% probability to Bitcoin clearing $100,000 by the end of 2026, while Polymarket gives the $150,000 level only an 8% chance this year.

Pressed on quantum-computing risk, Saylor brushed off the downside, suggesting the network could be upgraded within months if a consensus threat emerged.

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