The Dangerous Math Behind Michael Saylor’s Bitcoin Strategy | Ep. 135 — No. 129 Patrick

<p>He calls out Michael Saylor, something almost unheard of in the Bitcoin world.</p> <p>Patrick, CEO of DelphX Capital Markets, says the MicroStrategy model is financial nonsense and that Saylor’s leveraged approach could wreck both his company and Bitcoin’s reputation if things turn south.</p> <p>In this episode, Patrick breaks down what most Bitcoiners don’t want to hear: Wall Street’s asleep, leverage is out of control, and transparency (not hero worship) is what will protect this market long-term.</p> <p>From his days in credit markets to building new hedging tools for Bitcoin treasuries, Patrick explains why corporate hedging and full disclosure aren’t bearish; they’re survival.</p> <p>Links to today’s Show Notes:</p> <p>— https://delphx.com</p> <p>⬇️⬇️⬇️</p> <p>— Sat Chats is a Bitcoin podcast for the curious, cautious, and not-quite-coiners. If you’ve got questions about Bitcoin, we’ve got answers.</p> <p>— Every episode ends with our guests choosing: $50 in cash… or $50 in Bitcoin.</p> <p>— Subscribe and turn on notifications to join our journey to 10,000 subscribers and our 2 million sats giveaway.</p> <p>— Drop your questions or Bitcoin myths in the comments (we read every one).</p> <p>— This show is for educational purposes only and should not be considered financial advice.</p> <p>Support Sat Chats directly by:</p> <p>— Zapping Lightning to [email protected]</p> <p>— Grabbing your slot in the studio today at https://satchats.com/</p> <p>— Sending Bitcoin to bc1q5yrwe6qxujzumg5j28g0rvckx9n859sa08fupc</p> <p>— Sponsorship inquiries can be sent to [email protected]</p>