# Nate Erskine-Smith, Diaspora Politics and a Hard Lesson for Liberals | CBP 264 Pt 2

Page: https://stenobird.com/podcast/the-canadian-bitcoiners-podcast-bitcoin-news-with-a-canadian-spin-3675724/nate-erskine-smith-diaspora-politics-and-a-hard-lesson-for-liberals-cbp-264-pt-2
Text version: https://stenobird.com/podcast/the-canadian-bitcoiners-podcast-bitcoin-news-with-a-canadian-spin-3675724/nate-erskine-smith-diaspora-politics-and-a-hard-lesson-for-liberals-cbp-264-pt-2.md
Podcast: [The Canadian Bitcoiners Podcast - Bitcoin News With a Canadian Spin](https://stenobird.com/podcast/the-canadian-bitcoiners-podcast-bitcoin-news-with-a-canadian-spin-3675724)
Published: 2026-05-13T09:03:00+00:00
Episode link: https://podcasters.spotify.com/pod/show/canadian-bitcoiners/episodes/Nate-Erskine-Smith--Diaspora-Politics-and-a-Hard-Lesson-for-Liberals--CBP-264-Pt-2-e3j82t8
Audio file: https://anchor.fm/s/538d43f4/podcast/play/119851368/https%3A%2F%2Fd3ctxlq1ktw2nl.cloudfront.net%2Fstaging%2F2026-4-12%2F423967374-44100-2-c4a0e03b1fb45.mp3
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JSON: https://stenobird.com/v1/public/podcasts/the-canadian-bitcoiners-podcast-bitcoin-news-with-a-canadian-spin-3675724/episodes/nate-erskine-smith-diaspora-politics-and-a-hard-lesson-for-liberals-cbp-264-pt-2
Duration seconds: 2532

## Resource

Saylor just broke Strategy's "NEVER SELL" Bitcoin rule. The $1.5B dividend math, the 11.5% yield, the Q1 -$12.5B net loss, and what it means for Canadian MSTR holders — explained.Michael Saylor told investors on Strategy's Q1 2026 earnings call that he will "probably sell some Bitcoin to pay a dividend, just to inoculate the market and send the message that we did it." Three days later he walked it back, saying the remark wasintended to "jam short-sellers and 'haters.'" Strategy holds 818,334 BTC at an average cost basis of $75,537. The annualized preferred dividend obligation is roughly $1.5 billion. Q1 net loss was $12.54 billion. Bitcoin briefly traded below $81,000 after the call.In this episode of the Canadian Bitcoiners Podcast:- The actual mechanism: buy with credit, let it appreciate, sell to fund preferreds- Why this isn't an MSTR "Ponzi" reveal — and why it kind of is- Sequans' 1,025 BTC sale, the $35.9M convertible-note pressure, and what "treasury reckoning" looks like in practice- Canada's first regulated CAD stablecoin: Tetra's CADD with Shopify and National Bank backing- Coinbase cuts 14% of staff for "AI-native pods" while the exchange goes down for an AWS chiller failure- Germany ends its 12-month Bitcoin tax exemption — €2B revenue target by 2027- The Netherlands prepares 36% tax on UNREALIZED Bitcoin gains by 2028- Bitcoin Core's first-ever memory-safety bug, CVE-2024-52911, quietly patched a year before public disclosure- Notable North: Alberta separation petition crosses 300k signatures, Honda walks from a $15B Ontario EV plant, Doug Ford sacks the Conestoga College board, Ottawa finally starts tracking which temporary residents have actually leftThe orange-pill takeaway: every "treas…

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