Michael Saylor & Phong Le: MSTR Dilution Fears, Buybacks and Strategy as the "J.P. Morgan of Digital Assets"

Natalie Brunell's Coin Stories · Aug 18, 2026 · 1h 6m

Michael Saylor and Phong Le sat down with Natalie Brunell to take questions directly from Strategy investors — including some pointed concerns about MSTR's sharp drawdown, dilution and whether common shareholders are still the company's top priority.

One investor said he put $73,000 into MSTR for each of his three children, only to see each investment fall to roughly $20,000. He asked Saylor and Le directly: have common shareholders become Strategy's lowest priority?

In this episode:

Michael and Phong address dilution fears around $MSTR common stock

Are $MSTR buybacks are on the table, and…