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 IPO02:11 Behind the Scenes of the Upsized SATS Offering05:03 How High Can Strive Take Its Amplification Ratio?07:01 SATS vs. SATA: A New Tool for Raising Capital08:36 Strive’s 18-Month Dividend Reserve Explained11:13 Surviving the Longest Bitcoin…

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