
Chairman & CEO @Strive Christ, Liberty, Bitcoin $ASST $SATA $SATS @hurdleratepod
Joined November 2021
- Tweets3.4K
- Following1.6K
- Followers46.8K
- Likes14.7K
Pinned Tweet
Joined RE: Bitcoin with @chasepalmieri. He asked several excellent in-depth questions about Strive I've never been asked publicly before. Hope you enjoy the conversation.
TIMESTAMPS
00:00 - Strive and Bitcoin Amplification
01:50 - Amplification Risk and Reward
04:04 - Market Demand and Institutions
06:57 - Outperforming Bitcoin
10:06 - Growth and Capital Strategy
13:00 - Bitcoin Balance Sheet and Digital Credit
18:01 - Daily Dividends and Market Impact
21:04 - Collaboration and Competition
24:50 - Digital Credit Yields and Risks
29:59 - Bitcoin Loans and Collateral
39:48 - Long-Term Strategy and Outlook
$ASST $SATA $SATS
If you’re in Austin next week, come talk amplified Bitcoin and Digital Credit with us.
Join members of the Strive team in Austin next Wednesday, 10/28, to celebrate the 100th dividend of $SATA.
$21 gets you food, drinks, and gift bag with limited-edition swag.
Only 65 spots available. To register, visit luma.com/nbcsxjph
Matt Cole retweeted
What will 2027 bring for bitcoin and tokenised securities?
Blockstream CEO @adam3us, Twenty One Capital CEO @RaphaZagury and Strive CEO @ColeMacro look back at 2026 and ahead to what's next.
Lugano, 22 October.
Don't miss it: thefutureofcapitalmarkets.co…
Matt Cole retweeted
A new BTC demand driver is emerging.
Our latest research piece from analyst Zack Wainwright examines the rise of perpetual preferred stocks -- another transparent demand driver we can observe for BTC.
He puts their growth in the context of Bitcoin ETPs, examines why they may appeal in a world of expanding fiat and debt, and closes with a comparison to the Pyramids of Giza to illustrate the market's potential scale.
fidelitydigitalassets.com/re…
Matt Cole retweeted
Within roughly 48 hours:
JPMorgan formally modeled Bitcoin outperforming traditional asset classes over the long term.
Fidelity published research presenting Bitcoin-backed preferred stock as an emerging capital-market demand channel.
BlackRock pursued another Bitcoin investment product while IBIT experienced exceptional inflows.
Imagine showing a Bitcoiner from October 2023 these headlines.
They would’ve assumed you were crazy.
And now it’s just a random Tuesday.
Matt Cole retweeted
Joined @watchbmtv today to discuss our new product $SATS, which launched on Nasdaq today, along with other perspectives on the Bitcoin capital markets.
Full clip below w/ timestamps ICYMI
Timestamps:
00:00 Strive’s SATS IPO
00:31 Bitcoin Buying And Warrant Capital
01:38 Why The SATS Deal Was Upsized
04:48 Amplification And SATS As A Capital Tool
08:23 Dividend Coverage And The 18-Month Reserve
10:41 Balancing Cash And Bitcoin
13:41 Strategy’s Daily Dividend Vote
15:17 Competing Demand For Bitcoin
18:27 Credit Market Stress And Rated Capital
21:58 MSCI Index Exclusion
$ASST $SATA $SATS
Matt Cole retweeted
I'm proud to announce that @Saturn_credit has participated in @Strive's $SATS IPO, allocating directly from our own treasury.
SATS is a cumulative fixed-rate perpetual preferred, junior to $SATA and senior to $ASST, with a 15% annual dividend paid every business day.
We see SATS as a meaningful step forward for digital credit, and over time we're exploring ways to bring instruments like it to our global investor base.
As allocators in the digital equity and credit ecosystem, our team is continually impressed by Strive's rigor around ASST amplification, paired with a willingness to redefine the design space for digital credit. Strive is also exceedingly vocal about its long-term decision-making process and execution strategy, which allowed it to turn the warrant expiry into a showcase of balance sheet expertise and, now, an opportunity for net new capital to gain $BTC exposure through SATS.
We started Saturn on the premise that digital credit is the substrate for Bitcoin's global adoption. Like Strive, our goal is to advance the frontier of Bitcoin's financialization. We saw this firsthand with SATA's daily dividends, and we're excited to see what comes next from Strive, @Strategy, and other issuers as the industry builds toward a 24/7 financial world. In Saturn's case, we advance it by making digital credit accessible around the clock to a global audience, and by expanding the Bitcoin risk-return curve through our digital dollar and yield products.
We look forward to supporting future offerings that move Bitcoin forward. Congratulations @ColeMacro, @Werkman, @PunterJeff, @AdamBLiv, @IIICapital, and the rest of the Strive team.
Note: Saturn's participation in SATS was made from its own treasury and does not affect USDat, sUSDat, or any existing Saturn product or holder.
Matt Cole retweeted
Last year, I led Bitcoin strategy at Semler Scientific, a public company with a ~$300 million market cap.
Since then, we've merged with Strive, grown to a $3+ billion market cap, and just closed a $700 million preferred stock IPO this morning.
Keep ₿uilding.
Welcome Back to The Hurdle Rate
Episode 78: Bitcoin Fell, We Grew 6x
In this week’s Hurdle Rate, the crew breaks down the $700M SATS IPO, Strive’s first year as a public company, and growing from 5,886 to 36,818 $BTC through a bear market. They also discuss why $SATS is a 15% fixed rate preferred junior to $SATA, how the $ASST amplification engine was built, and what TradFi investors asked during a high yield selloff.
Here’s the latest with @ColeMacro, @PunterJeff, @Werkman, @IIICapital, and @AdamBLiv.
Timestamps:
00:00 - Intro
00:54 - Strive’s First Year
06:58 - 6x the Bitcoin in a Bear Market
14:40 - The Amplification Engine
22:18 - The Dream Bear Market
25:22 - Why SATS Is 15% Fixed
34:32 - Designing SATS
42:27 - Treasury Breakeven ARR
46:40 - The Digital Credit Bubble
55:54 - Pricing Through a High Yield Selloff
01:01:13 - What’s Your LTV?
01:06:30 - The 18-Month Dividend Reserve
Matt Cole retweeted
J.P. Morgan Asset Management’s base case projects Bitcoin to outperform U.S. stocks, bonds and gold over the next decade. Wall Street is doing the math.
Matt Cole retweeted
X Space: The Bitcoin Pharaoh x @ColeMacro, Thursday 22 October, 11am ET. xitter.cf/i/spaces/1aKbdEgWQbQJX…
Strive is the best-engineered bitcoin treasury company of this cycle. Give Matt Cole all the preferred demand he wants, and on my numbers the stock only modestly beats bitcoin from here. Beating it by a lot needs the market to keep paying well over 1.35x what the common actually owns, bitcoin and cash after the preferred, which is where my math says the multiple settles.
Matt read my 12,000-word piece on Strive, Darling of the Bear, quicker than most people get to the subtitles, and offered to discuss it live, with no question off limits, Party A included. He'll get to tell us where he thinks I got it wrong, and my plan is to make HARDtalk look like a walk in the park, armed with nothing more dangerous than his filings, a calculator and my natural wit.
SATA and SATS holders will be about a fifth of a cent per share richer by the time we're done, which is more than I can promise anyone else listening.
Topics, ranked by how likely they are to end our friendship before it's begun:
• SATS, sold at $90 two days after Strive bound itself never to sell SATA below $100. The first 7 million shares cost 17.3% a year for life, and the buyers got the call
• Who buys 13% SATA with Strategy coming in hot with daily payouts on its preferreds? And was SATS a direct response to that?
• If more preferred always looks better on paper, why stop at 70%? At 100%, a 15% dip in bitcoin leaves the common holding nothing but hope
• In mid-September the market paid about 2.3x what the common owns; today it pays about 1.7x, which is what the shares would be worth if bitcoin compounded at 50% a year indefinitely, the rate Strive uses as its base case through 2030. My math says it settles near 1.35x in the long run, and while euphoria can push it well above that temporarily, what counts is how much of the spike he turns into BTC per share before the music stops
• Your questions, for the last 20 minutes, by which point we may need a third man in the ring
I'd recommend reading the Brief before Thursday, since we'll go straight into its ideas: thepharaohbrief.substack.com…
Disclosure: I hold no current position in $ASST, $SATA or $SATS, which Matt has about 75 minutes to change.
Matt Cole retweeted
Welcome Back to The Hurdle Rate
Episode 78: Bitcoin Fell, We Grew 6x
In this week’s Hurdle Rate, the crew breaks down the $700M SATS IPO, Strive’s first year as a public company, and growing from 5,886 to 36,818 $BTC through a bear market. They also discuss why $SATS is a 15% fixed rate preferred junior to $SATA, how the $ASST amplification engine was built, and what TradFi investors asked during a high yield selloff.
Here’s the latest with @ColeMacro, @PunterJeff, @Werkman, @IIICapital, and @AdamBLiv.
Timestamps:
00:00 - Intro
00:54 - Strive’s First Year
06:58 - 6x the Bitcoin in a Bear Market
14:40 - The Amplification Engine
22:18 - The Dream Bear Market
25:22 - Why SATS Is 15% Fixed
34:32 - Designing SATS
42:27 - Treasury Breakeven ARR
46:40 - The Digital Credit Bubble
55:54 - Pricing Through a High Yield Selloff
01:01:13 - What’s Your LTV?
01:06:30 - The 18-Month Dividend Reserve
Dividends are subject to board declaration.
For more important information check out our 8k (sec.gov/ix?doc=/Archives/edg…) and our prospectus and prospectus supplements on file with the SEC at sec.gov.
Matt Cole retweeted
4,045 BTC accumulated in total last week, 1,223 from Wednesday to Friday.
₿itcoin warrants your full focus and your best execution.
Matt Cole retweeted
Strategy has repurchased $193M of $STRC and acquired 267 $BTC. As of 10/18/26, we hold 848,517 BTC and $5.3B of USD Assets. We have also increased the size of our Digital Credit Securities Repurchase Program from $2.0B to $3.0B. $MSTR strategy.com/press/strategy-…
See our 8-k for additional information: sec.gov/ix?doc=/Archives/edg…



















