Strive CEO @ColeMacro explains why Michael Saylor sold 32 bitcoin. "he had to message 'I am willing to do this' and that willingness to do that was always going to come with the critics saying 'oh this is a tip of the iceberg. First its 32, next its going to be 3,200.'" "your goal should be maximizing total returns. bitcoin's your hurdle rate, but ultimately the goal is you want to maximize the total returns for your common equity shareholders."
I sat down with Strive CEO Matt Cole to discuss digital credit, $ASST, and $SATA. @ColeMacro breaks down the mechanics, the dividend structures, what the risks are, Michael Saylor's decision to sell bitcoin, and why a thriving ecosystem of digital credit issuers is better for bitcoin long-term. YouTube: https://www.youtube.com/watch?v=9GO_-vo7xxQ&t=1067s Apple: https://podcasts.apple.com/us/podcast/why-is-bitcoin-digital-credit-so-important-matt-cole/id1434060078?i=1000771220645 Spotify: https://open.spotify.com/episode/2KJQfNRp5FNNWwBTUDKLrX?si=TvPGRgyJQLqAbVxxRcEEyg TIMESTAMPS: 0:00 - Intro 0:41 - What is digital credit & what problem does it solve? 5:17 - How the carry trade works 8:48 - Daily dividends & dividend structure 10:52 - Downside risk & balance sheet protection 16:18 - The strongest critique of digital credit 19:32 - Michael Saylor selling bitcoin 27:03 - Bitcoin price action vs. bullish headlines 31:32 - Where is digital credit taking capital from? 36:44 - Banks, Jamie Dimon & systemic risk 38:52 - Strive vs. Strategy 42:38 - Too much bitcoin held by public companies? 48:33 - Strive's mission & the road ahead
