Episode notes
“We are in the digital gold rush to acquire as much Bitcoin as humanly possible.”
Jeff Walton joins the show to break down the rise of Bitcoin-backed credit, Strive’s SATA instrument, and why perpetual preferred equity could become one of the most important capital market innovations in Bitcoin.
We discuss why SATA is now paying daily dividends, how Strive thinks about risk, reserves, leverage, and Bitcoin coverage, and why these new credit instruments may become a structural buyer of Bitcoin through both bull and bear markets.
We also get into Strategy’s role as the market leader, the shift away from convertible debt, the future of Bitcoin treasury companies, proof of reserves, custody risk, institutional adoption, and whether Bitcoin credit could eventually reprice the entire credit market.
FOLLOW:
Danny Knowles: https://x.com/_DannyKnowles or https://primal.net/danny
Jeff Walton: https://x.com/PunterJeff
THANKS TO OUR SPONSORS:
LEDN: https://learn.ledn.io/wbd
BITKEY: https://bitkey.world/
ANCHORWATCH: https://www.anchorwatch.com/
BLOCKWARE: https://www.blockwaresolutions.com/wbd/
SWAN: https://www.swan.com/wbd
CAPE: https://www.cape.co/wbd
SUBSCRIBE TO THE PODCAST:
FOUNTAIN: https://fountain.fm/show/gpascDml6iI0sM8aTOCT
SPOTIFY: https://open.spotify.com/show/18Pixm6jNMATYXSO6cUnTH
APPLE PODCASTS: https://podcasts.apple.com/gb/podcast/defiance/id1482455669
WEBSITE: https://www.whatbitcoindid.com/
CHAPTERS:
00:00:00 - Introduction
00:02:11 - The Digital Gold Rush
00:08:14 - 13% Daily Dividends
00:12:00 - Daily Dividends & Liquidity
00:22:55 - Strive’s Balance Sheet & STRC
00:24:51 - Bitcoin Price Assumptions
00:39:15 - Common Stock vs Preferred Equity
00:43:12 - Custody, Trust & Proof of Reserves
00:51:27 - Retail vs Institutional Demand
01:02:00 - Preferred Equity vs Converts
01:12:00 - Bitcoin Credit as the New Hurdle Rate
01:36:15 - Buyers of Last Resort
What Bitcoin Did with Danny Knowles
#Bitcoin #Finance #Money #Economics
Jeff Walton joins the show to break down the rise of Bitcoin-backed credit, Strive’s SATA instrument, and why perpetual preferred equity could become one of the most important capital market innovations in Bitcoin.
We discuss why SATA is now paying daily dividends, how Strive thinks about risk, reserves, leverage, and Bitcoin coverage, and why these new credit instruments may become a structural buyer of Bitcoin through both bull and bear markets.
We also get into Strategy’s role as the market leader, the shift away from convertible debt, the future of Bitcoin treasury companies, proof of reserves, custody risk, institutional adoption, and whether Bitcoin credit could eventually reprice the entire credit market.
FOLLOW:
Danny Knowles: https://x.com/_DannyKnowles or https://primal.net/danny
Jeff Walton: https://x.com/PunterJeff
THANKS TO OUR SPONSORS:
LEDN: https://learn.ledn.io/wbd
BITKEY: https://bitkey.world/
ANCHORWATCH: https://www.anchorwatch.com/
BLOCKWARE: https://www.blockwaresolutions.com/wbd/
SWAN: https://www.swan.com/wbd
CAPE: https://www.cape.co/wbd
SUBSCRIBE TO THE PODCAST:
FOUNTAIN: https://fountain.fm/show/gpascDml6iI0sM8aTOCT
SPOTIFY: https://open.spotify.com/show/18Pixm6jNMATYXSO6cUnTH
APPLE PODCASTS: https://podcasts.apple.com/gb/podcast/defiance/id1482455669
WEBSITE: https://www.whatbitcoindid.com/
CHAPTERS:
00:00:00 - Introduction
00:02:11 - The Digital Gold Rush
00:08:14 - 13% Daily Dividends
00:12:00 - Daily Dividends & Liquidity
00:22:55 - Strive’s Balance Sheet & STRC
00:24:51 - Bitcoin Price Assumptions
00:39:15 - Common Stock vs Preferred Equity
00:43:12 - Custody, Trust & Proof of Reserves
00:51:27 - Retail vs Institutional Demand
01:02:00 - Preferred Equity vs Converts
01:12:00 - Bitcoin Credit as the New Hurdle Rate
01:36:15 - Buyers of Last Resort
What Bitcoin Did with Danny Knowles
#Bitcoin #Finance #Money #Economics
