Natalie Brunell

Hi, everyone, and welcome. I'm Natalie Brunell, host of Coin Stories and author of Bitcoin is for Everyone, and I'm so glad you're all with us here tonight. Whether you're a long-time MSTR shareholder, a brand-new Stretch holder, or you're just trying to understand what strategy is actually building, you're in the right place, tonight is for you. The questions that drive this conversation are coming directly from this audience, from retail investors who submitted them on X and through the QR code that we shared a few weeks ago, and we're putting them in front of the 2 people best positioned to answer them. We'll also be folding in questions coming in live in the comments during the stream tonight. My colleague, [ Alexander Devani ] is behind the scenes, ready to filter those in real-time, and we'll share the sharpest ones to me as we go. We will try to get through as many of them as we can in about an hour that we have.

Before we jump in, we have an important disclaimer. This Q&A webinar is for informational purposes only. It is not an offer to sell or a solicitation of an offer to buy any securities, and it is not investment, financial, legal, or tax advice. Any offering of securities will be made only by means of a prospectus, excuse me. For additional information about strategy and the key performance indicators, visit strategy.com/notes. So without further ado, let me bring in our featured speakers. Michael Saylor is the Executive Chairman of Strategy and one of the most influential voices in Bitcoin in the world. Under his leadership, Strategy has become