[00:02] preferred stock sell-off that he compares his company strategy to the first company that ever went public to build real estate, except the asset this build real estate, except the asset this time is not land or buildings, it's BTC.
[00:15] >> It's a digital credit vehicle. Think of it as a structured finance company. And we're the first company to begin to securitize this new asset class. City and they were the first company to go public and then issue public
[00:30] securities, equity, and preferred stocks to build buildings. And then their stock and their security became a way that people could invest in real estate. We have created equity and preferred equities that the public can buy. There
[00:43] are actually five preferred equities that float and then there's one common that float and then there's one common equity. And we take the capital that we raise and we buy Bitcoin with it. Now, we're not dependent on the capital
[00:56] markets, but but we are in we are empowering the capital markets. The The company's idea is pretty simple. It's we simply buy Bitcoin, we hold it forever. Now, when we sell a preferred stock, we pay a dividend on the preferred. The way
[01:11] we pay the dividend is either we sell equity in the company if it's appreciating faster than the than the Bitcoin or we just sell the Bitcoin.