Saylor Credits ChatGPT with Raising $15 Billion for Bitcoin Purchases

Michael Saylor, CEO of Strategy, credited ChatGPT with helping his company raise $15 billion for Bitcoin purchases. In an interview on The Diary of a CEO podcast, Saylor explained that Strategy had exhausted traditional fundraising options and needed to create a new type of security to expand its Bitcoin holdings.

Saylor described using ChatGPT to explore different structures for a preferred stock, which combined elements of financial engineering, securities law, and digital assets. He said the AI helped refine the security's design, including a variable monthly dividend mechanism intended to keep the instrument trading near its $100 par value.

The resulting financing vehicle became the year's largest IPO at the time, raising about $2.5 billion before Strategy later sold billions more through additional offerings. Altogether, Saylor said the company issued roughly $15 billion worth of credit instruments.