#Gate Derivatives Volume Hits New High

You might think that MicroStrategy's "strategy" is just simple Coin Hoarding?

Wrong.

They are not simply holding Bitcoin, but have built a "Bitcoin Credit System":

This article is sponsored by #Gate.io | @Gate_zh

They launched 3 types of Bitcoin collateralized preferred stocks:

$STRF, $STRK, $STRD

Through these three products, the debt structure of traditional finance has been modularly transferred to the coin circle, achieving:

Different debt ratings

Convertible vs Non-convertible

Accumulated vs Non-Accumulated Dividends

Fixed vs Floating Yield Benchmark

High vs Low Dividend Yield

Fixed vs Variable Dividend Payment Mechanism

Bitcoin's potential for growth participation

Hierarchical Design of Settlement Priority

Each product attracts funds with different preferences, bringing the entire "capital market" into their strategic models.

💡 Web2 companies rely on balance sheets and bond financing.
🧠 And the strategy relies on the structure of Bitcoin assets and preferred shares.

They are playing a set:

Continuous financing → Buy Bitcoin → Mortgage Bitcoin → Refinance → Continue to buy more Bitcoin

Turn Bitcoin into a "super asset that can generate financing capabilities."

This is the true strategy of Michael Saylor:

Turn $MSTR into a "Bitcoin-based shadow central bank + credit factory"

Use the shell of traditional finance to leverage the value flywheel of the Web3 world!