Pratique du Shadowing: MicroStrategy: The Crypto Scam Hiding in Plain Sight - Apprendre l'anglais à l'oral avec la vidéo

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Ah, 2025, where investing means lighting your money on fire in increasingly creative ways.
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Whether it's paying $450 ,000 to be Snoop Dogg's neighbor in the metaverse, paying $7 million for a JPEG,
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or YOLOing your life savings at a Dogecoin just to make and lose $2 million in less than one year.
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The opportunities to lose money are endless.
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But today, I've got something extra special for you.
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I've got a trade that's the financial equivalent of texting your ex at 2 a .m.
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You know it's a bad idea, but somehow, everyone's still doing it.
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And the best part?
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It's currently unfolding in real time as you watch this video.
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But instead of just jumping straight in, I've broken this video down into three parts.
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Boardrooms on Wall Street have started to figure out that if you stuff your balance sheet with Bitcoin,
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the stock market will pay $2 for every $1 worth of cryptocurrency on the books.
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It's the equivalent of going to a garage sale, seeing a dollar bill on the table, and paying $2 for it.
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And this all started back in 2020 with MicroStrategy.
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MicroStrategy was an enterprise software company that was experiencing declining revenues, a low market profile, and was more disappointing than the new age Jurassic Park movies.
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But then, in August 2020, CEO Michael Saylor announced that MicroStrategy would be transitioning its cash reserves into Bitcoin.
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This was the most revolutionary thing since garlic bread.
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Historically, companies have held their cash reserves in highly liquid, low -risk securities such as U .S treasuries.
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This was a way in
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which companies' cash reserves could earn more interest than a normal bank account and still be risk -free.
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price can fluctuate 10 % overnight was unheard of.
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And things only get crazier.
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Towards the end of 2020, Michael Saylor began to ramp things up.
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MicroStrategy started raising capital by issuing convertible debt, then turning around and using that borrowed cash to buy more Bitcoin.
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Fast forward to 2025, MicroStrategy is all in on Bitcoin, and they've done the impossible.
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they've pulled off a bigger transformation than Kim Kardashian.
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MicroStrategy has transformed itself from a dying software company to becoming a Bitcoin vault with a ticker symbol.
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MicroStrategy even ditched the micro.
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and now just goes by the name strategy to reflect the new direction of the company.
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strategy now has a 70 billion dollar stash of bitcoins and a 138 billion dollar market cap Since 2020,
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the stock has gained over 3 ,441%, which makes it one of the best performing stocks over the last five years.
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And because this strategy...
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Pun intended.
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Has seen massive success.
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Copycats are now flooding the scene.
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Because it doesn't matter if you were previously a gaming company based out of Hong Kong, a cardiovascular healthcare company, or a budget hotel management company in Japan.
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The strategy is simple.
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Announce you are buying Bitcoin and investors will buy your stock.
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Logic has officially died in the public markets, and we're all just NPCs living in Michael Saylor's personal simulation.
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The answer is actually relatively straightforward.
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Institutional capital, such as pension funds, mutual funds, or any other giant asset manager,
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want Bitcoin exposure, but their mandates don't allow for it.
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A fund's mandates are essentially a set of guidelines and say what investments money managers can and can't make.
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And many funds have mandates that don't allow Bitcoin as a holding.
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So by these funds purchasing strategy stock, they are getting indirect exposure to Bitcoin.
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Strategy is essentially providing money managers with a convenient and easy way to get exposure to Bitcoin as a holding.
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When you look at strategy's shareholder list, it all becomes evident.
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The Vanguard Group, who has made their negative opinions on Bitcoin very well known, is actually the largest shareholder Which brings us to the point of this video.
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This is the worst trade in the history of the stock market.
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Because strategy provides money managers with a convenient and easy way to get exposure to Bitcoin as a holding.
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They are paying huge premiums.
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Strategy, which has essentially turned itself into a $70 billion Bitcoin piggy bank, has Wall Street paying $138 billion for it.
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These money managers are so desperate for Bitcoin exposure, they're willing to pay a 100 % premium just to receive indirect Bitcoin exposure.
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And here's the hilarious part.
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This entire circus could be solved with one simple mandate change that allowed Bitcoin in their holdings.
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No more financial gymnastics, no more 100 % convenience fees, and no more having to pretend like they all hate crypto.
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So, it probably seems like strategy has it all figured out, right?
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They have a simple three -step, get -rich -quick scheme.
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Step one issue convertible debt step two throw every borrowed dollar into bitcoin step three
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Watch the magic happen as they profit from the appreciation in Bitcoin's price and their own stock price.
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Wrong.
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Because they are purchasing Bitcoin with the proceeds from convertible debt offerings, the risk isn't with a margin call,
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but instead the risk lies in the nature of convertible debt.
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When the debt reaches maturity, strategy must either repay the principal of the loan in cash or, if the bondholders choose, convert the bonds into shares of strategy stock.
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If the bonds are converted into stock, this would lead to heavy dilution, which would drastically impact the stock price.
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But the primary risk for Strategy isn't the stock price.
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It's whether they can meet the interest and principal repayments on their debt obligations if Bitcoin's price drops significantly.
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Strategy currently holds around 600 ,000 Bitcoins at an average price of $71 ,000.
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wallet that's convinced institutional investors to pay double the value of the assets inside the wallet.
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And to add the cherry on top, the institutional investors who don't trust Bitcoin are trusting a former
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enterprise software company turned Bitcoin piggy bank to manage billions in convertible debt.
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This is the worst trade ever.

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Vocabulaire et conseils d’expression pour cette leçon

Cette leçon d’expression orale de niveau B2 s’appuie sur la vidéo « MicroStrategy: The Crypto Scam Hiding in Plain Sight ». Les mots qui reviennent le plus souvent : bitcoin, strategy, stock, Microstrategy, debt. Cette vidéo contient 72 phrases et 970 mots à répéter en shadowing. La partie parlée dure 6:47. Le locuteur parle à un rythme régulier d’environ 143 mots par minute, confortable pour le shadowing. Seuls 77 % des mots font partie des 3 000 mots les plus courants en anglais, le vocabulaire est donc exigeant.

Vocabulaire clé de cette vidéo

Les 15 mots les plus avancés de la vidéo, avec leur prononciation et leur sens :

MotPrononciationSens
convertible nom/kənˈvɝtɪbl̩/décapotable, cabriolet
mandate nom/ˈmændeɪ̯t/mandat
investor nom/ɪnˈvɛs.tə(ɹ)/investisseur, investisseuse
institutional adjectif/ˌɪn.stɪˈtju.ʃə.nəl/institutionnel
shareholder nom/ˈʃɛəˌhəʊl.də(ɹ)/actionnaire
indirect adjectif/ˌɪn.daɪˈɹɛkt/indirect
borrow verbe/ˈbɑɹ.oʊ/emprunter
convert verbe/kənˈvɝt/convertir
wallet nom/ˈwɑl.ət/portefeuille, portemonnaie
convenient adjectif/kənˈviː.niənt/commode, pratique
cryptocurrency nom/ˈkɹɪp.toʊˌkɝ.ən.si/cryptomonnaie
dilution nom/daɪˈluʃən/dilution
fluctuate verbe/ˈflʌkt͡ʃu.eɪt/fluctuer
guideline nom/ˈɡaɪdˌlaɪn/directive, grande ligne
metaverse nom/ˈmɛt.ə.vɝs/métavers

Les verbes à particule que vous entendrez

MotSens
figure out verbecerner
pull off verbesortir, retirer
turn around verberetourner

La grammaire de cette vidéo

Les structures que le locuteur utilise le plus, avec les mots exacts de la vidéo :

StructureDans la vidéo
Present perfect have/has + participe passé — une action passée qui compte encore maintenantI've broken · have started · have held
Voix passive be + participe passé — l’accent est mis sur ce qui arrive, pas sur qui le faitcould be solved · are converted

Prononciation à surveiller

Le locuteur utilise 14 contractions et formes réduites, comme don't, I've, isn't. Prononcez-les sous leur forme courte, telles que vous les entendez.

  • Les sons « sh » et « zh »: institutional /ˌɪn.stɪˈtju.ʃə.nəl/, shareholder /ˈʃɛəˌhəʊl.də(ɹ)/, dilution /daɪˈluʃən/, stash /stæʃ/, simulation /ˌsɪm.jəˈleɪ.ʃn̩/
  • Mots longs — placez bien l’accent: institutional /ˌɪn.stɪˈtju.ʃə.nəl/, cryptocurrency /ˈkɹɪp.toʊˌkɝ.ən.si/, cardiovascular /ˌkɑːdi.əʊˈvæskjʊlə(ɹ)/, maturity /məˈtjʊəɹɪti/, historically /hɪˈstɔɹɪkli/

Les sons difficiles pour les francophones :

  • /h/ — il se souffle, il n’est pas muet: shareholder /ˈʃɛəˌhəʊl.də(ɹ)/, unheard /ʌnˈhɜː(ɹ)d/, historically /hɪˈstɔɹɪkli/
  • /tʃ/ et /dʒ/ — à ne pas adoucir en « ch » et « j »: fluctuate /ˈflʌkt͡ʃu.eɪt/, gymnastics /d͡ʒɪmˈnæs.tɪks/, ditch /dɪt͡ʃ/, cherry /ˈt͡ʃɛɹi/
  • /r/ anglais — langue recourbée, sans frotter la gorge: investor /ɪnˈvɛs.tə(ɹ)/, shareholder /ˈʃɛəˌhəʊl.də(ɹ)/, indirect /ˌɪn.daɪˈɹɛkt/, borrow /ˈbɑɹ.oʊ/, boardroom /ˈbɔɹdˌɹuːm/

Comment s’entraîner avec cette vidéo

  1. Écoutez la vidéo en entier une fois sans parler et notez les mots que vous ne connaissez pas.
  2. Répétez phrase par phrase à vitesse normale, en reprenant chacune jusqu’à ce que votre rythme corresponde à celui du locuteur.
  3. Enregistrez-vous et comparez avec l’original, en faisant attention à des mots comme convertible, mandate, investor.

Qu'est-ce que la technique du Shadowing ?

Le Shadowing est une technique d'apprentissage des langues fondée sur la science, développée à l'origine pour la formation des interprètes professionnels. Le principe est simple mais puissant : vous écoutez de l'anglais natif et le répétez immédiatement à voix haute — comme une ombre suivant le locuteur avec un décalage de 1 à 2 secondes. Les recherches montrent une amélioration significative de la précision de la prononciation, de l'intonation, du rythme, des liaisons, de la compréhension orale et de la fluidité.

Technique du shadowing : lire le guide complet étape par étape →