# Saylor and Mallers Clash Over Strategy's Dilution | CoinDesk Daily

Page: https://stenobird.com/podcast/coindesk-podcast-network-334494/saylor-and-mallers-clash-over-strategy-s-dilution-coindesk-daily
Text version: https://stenobird.com/podcast/coindesk-podcast-network-334494/saylor-and-mallers-clash-over-strategy-s-dilution-coindesk-daily.md
Podcast: [CoinDesk Podcast Network](https://stenobird.com/podcast/coindesk-podcast-network-334494)
Published: 2026-06-11T16:24:00+00:00
Episode link: https://traffic.megaphone.fm/CDI4207833317.mp3
Audio file: https://traffic.megaphone.fm/CDI4207833317.mp3
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Duration seconds: 82

## Resource

Saylor and Mallers' debate at BTC Prague. Strategy executive chairman Michael Saylor and Twenty One Capital CEO Jack Mallers debated Strategy's capital structure at BTC Prague. Mallers challenged Saylor on dilution and how out-of-the-money convertible debt factors into mNAV calculations. CoinDesk's Jennifer Sanasie hosts "CoinDesk Daily." - This episode was hosted by Jennifer Sanasie. “CoinDesk Daily” is produced by Jennifer Sanasie and edited by Victor Chen.

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## Transcript

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