About This Episode
The crew is back covering the latest Strive announcement of their Board of Directors, the anticipated rate cut this Wednesday, the latest on this week’s Bitcoin Treasuries Unconference in New York, and more.
In This Episode
- 00:01:02 — Strive Announces Board of Directors
- 00:30:27 — Rate Cut on Wednesday?
- 00:37:27 — Bitcoin Treasuries Unconference
- 00:47:11 — Options on the Prefs
Episode Summary
Key Themes: Strive closed its merger; interest in preferred equity offerings; Bitcoin only; AI disruption; Bitcoin treasuries unconference.
Strive Closes Merger & “Special” Board
Matt described the merger closing as reaching the “starting line,” not the finish. Strive announced a uniquely composed board of Bitcoin treasury pioneers, “OG” Bitcoiners, governance experts and Strive execs. The board’s chemistry, high energy, variety of backgrounds, diversity of thought and conviction in Bitcoin sets a solid foundation for Strive to achieve its goals.
Preferred Equity & Strive’s Differentiated Structure
Strive unveiled ambitions to launch perpetual preferred equity offerings. Additionally, Strive’s structure with no debt, a WKSI shelf and both ATM and repurchase programs collectively make Strive unique amongst Bitcoin treasury companies. This provides investors with amplified Bitcoin exposure on the equity side and stable yield opportunities on the credit side. Matt and Jeff emphasized that these “Strive Yields” create a new volatility and income profile.
Bitcoin-Only Conviction
Strive is Bitcoin-only. Bitcoin – not “digital assets” like ETH, SOL or others – is the only long-term asset worth building as it uniquely addresses inflation. Therefore, Bitcoin treasury companies, not “digital asset treasuries,” can uniquely connect to fixed income markets. Ben Werkman: Bitcoin’s addressable market is “half of all global capital.”
Macro Backdrop: Rates & AI
Rate cuts are likely, which should push asset prices higher, especially for risk assets like Bitcoin. AI will drive productivity gains even as it disrupts labor markets. Together, these forces make robust Bitcoin balance sheets even more critical for corporations.
Bitcoin Treasuries Unconference
This week’s Unconference in NY is designed as a focused, interactive town hall with ~400 participants, featuring talks from Matt and Jeff and directors Pierre Rochard and Ben Werkman, reinforcing Strive’s leadership in the Bitcoin treasury movement.
Main Takeaway: Strive going public is only the beginning. With an all-star board, innovative financing structures and focus on Bitcoin as the only true long-duration asset in a time marked by monetary debasement and technological-disruption, Strive is positioned to be a leader in redefining how corporations allocate capital.