Le nouveau plan de Saylor va-t-il VRAIMENT changer le monde de la finance ?!

This video explores the concept of "digital credit," specifically focusing on Strategy’s STRC, which offers an 11.5% annual interest rate paid monthly in cash, supposedly guaranteed by 818,000 Bitcoin. This seems too good to be true, especially compared to the 2-3% annual returns on traditional savings accounts. In just nine months, Strategy's product has attracted $8.5 billion, with its CEO, Sailor, envisioning billions of beneficiaries and Bitcoin reaching $10 million. However, Strategy recently announced it might need to sell Bitcoin to cover its dividends, a stark contradiction to Sailor's "Neverell" mantra since 2020. The video aims to dissect digital credit, understanding its mechanics, current reality, and potential to revolutionize finance or end in disaster. Before delving into digital credit, the video introduces eToro, a partner platform for investing in stocks, ETFs, crypto, and other assets. They offer an exclusive bonus for new clients from the JDC community, ranging from $40 for a $500 deposit to $500 for a $10,000 deposit or more. Digital credit originates from Sailor, the former head of Micro Strategy, which became Strategy in 2025. Initially a software company, it transformed into a Bitcoin acquisition machine post-2020. Five years later, Strategy holds over 800,000 BTC, making it the largest corporate Bitcoin holder globally. At the Bitcoin 2026 conference, Sailor introduced digital credit as an innovative way to leverage Bitcoin's volatility. Sailor emphasizes the distinction between capital and credit. Capital, like Bitcoin, is an asset bought and held for long-term value appreciation, characterized by volatility but potential for explosive growth (Bitcoin has averaged 80% annual performance over 15 years, though closer to 30% in the last five). Credit, conversely, involves lending money for regular, predictable cash flow, like treasury bonds or savings accounts, which are stable but offer low returns. Sailor believes the world is built on capital but runs on credit, and he aims to bridge these two worlds. The bridge is the STRC, targeting a $100 price, similar to a stablecoin, with a variable dividend around 11.5% annually, paid monthly in cash. For every dollar of STRC, Strategy holds $5 worth of Bitcoin, providing a buffer against an 80% Bitcoin price drop. The STRC has significantly grown, compressing Bitcoin's 40% annual volatility to 2.9% for STRC, with a Sharpe ratio of 2.53, outperforming most traditional credit products. This is "engineered credit," transforming Bitcoin's volatility into stable cash flow for savers. Sailor argues this is only possible with Bitcoin due to its high annualized returns (around 38% over the last five years), which provide sufficient margin to pay 11% to credit investors and still leave profit for shareholders. The STRC is just one layer of Sailor's grander vision, structured in three layers: 1. **Bitcoin:** The ultimate digital capital. 2. **Digital Credit:** Beyond STRC, Strategy has issued a family of preferred shares: STRK (8% convertible to MSTR), STRF (10% senior), STRD (10% junior), and STRC (variable ~11.5% monthly). Over $13.5 billion in preferred shares are in circulation, with other companies like Strive (STA) and 21 Capital following suit, making it a new asset class. 3. **Programmable Yield:** This layer allows other companies to build on STRC, creating productive stablecoins, tokenized savings accounts, ETFs, and programmable yield products accessible globally. Three projects are advanced: AIX (APX USD and APY USD tokens, holding 800,000 STRC), Saturn Credit (stablecoin linked to treasuries, and a staked version channeling STRC yield, accumulating $15 million in STRC in a week), and Hermetica (yield vault paid in Bitcoin on the Stacks network). Over $270 million of STRC is in DeFi protocols, with an additional $150 million in corporate treasuries. Sailor projects this ecosystem could reach $1 billion in 4-8 weeks. As of early May 2026, STRC stands at $8.5 billion, with $375-400 million in daily liquidity. Retail investors (3 million households) account for 80% of holders. BlackRock holds $210 million in its I shares Preferred Income ETF (4th largest position), and VanEck holds $127 million. In Europe, 21 Shares launched an ETP on STRC in Amsterdam (February 2026) and London (May 2026) with a variable yield around 11.25%. In the US, Strive and Total Capital applied for a dedicated ETF, expected mid-June, which would be the first digital credit ETF. The product is no longer a project; it's widespread. However, Sailor's projections of a billion people with digital accounts, Bitcoin at $10 million, and 5-10% global credit market capture are not yet facts. Only a handful of the projected 1,000 Layer 3 companies exist. Strategy reported a record net loss of $12.54 billion in Q1 2026