Strategy (NASDAQ:MSTR) Executive Chairman Michael Saylor says artificial intelligence helped the world's largest corporate Bitcoin (CRYPTO: BTC) holder solve a financing problem that traditional Wall Street structures could not.
Speaking on the "The Diary Of A CEO" podcast on Aug. 6, Saylor explained that Strategy turned to AI after reaching the practical limits of traditional equity and convertible bond financing for additional Bitcoin purchases.
He said he used OpenAI’s ChatGPT to help explore and structure new preferred securities, contributing to the development of (NASDAQ:STRK) and later (NASDAQ:STRC), a variable-rate preferred stock designed to trade near its $100 par value.
Saylor pointed out that AI helped Strategy navigate financial, legal and structural challenges that bankers and lawyers initially viewed skeptically.
Strategy ultimately issued roughly $15 billion in credit instruments using the assistance of AI.
