While CCC high-yield credit spreads were blowing out, Strive still raised $700 million for Bitcoin. Jeff Walton, Chief Risk Officer at Strive, explains what that tells us about the growing market for Bitcoin-backed preferred equity. He discusses Strategy’s daily dividend vote, the future of rated capital, and why he believes that’s where the next trillion dollars comes from.
Chapters:
00:00 Strive Raises $700M in SATS Preferred Stock IPO
02:11 Behind the Scenes of the Upsized SATS Offering
05:03 How High Can Strive Take Its Amplification Ratio?
07:01 SATS vs. SATA: A New Tool for Raising Capital
08:36 Strive’s 18-Month Dividend Reserve Explained
11:13 Surviving the Longest Bitcoin Bear Market With No Capital Access
13:36 Strategy’s Daily Dividend Vote and STRC Returning to Par
15:59 “A Gold Rush”: New Capital Pools Chasing Bitcoin
18:54 Raising Capital as High-Yield Credit Spreads Blow Out
22:27 MSCI’s Bitcoin Treasury Exclusion and the Vanguard Parallel
DISCLAIMER: The views and opinions expressed in this show are those of the participants and do not necessarily reflect the official policy or position of BTC Inc., Bitcoin Magazine, or any affiliated entities. This content is provided for informational and educational purposes only and should not be construed as investment, legal, tax, or accounting advice. Nothing contained in this show constitutes a solicitation, recommendation, endorsement, or offer to buy or sell any securities or financial instruments. Viewers should consult their own advisors before making financial or business decisions.
