Documenting Strategy retweeted
My podcast conversation with @saturn_credit (@kevinlhr88, @eosborn88). We cover many challenging and nuanced questions on $STRC including buybacks, dividend rate, target price range, and onchain structuring.
Reminder: @Strategy's Q3 2026 earnings call is this Thursday, October 29 at 5 PM ET.
Timestamps:
00:45 CJ's Journey from Blackstone to Strategy
02:30 Strategy's Business Model: More Than Leveraged Bitcoin
08:02 Who Owns STRC? Retail vs. Institutional Investors
11:59 Institutional Demand for STRF, STRD, and STRK
14:02 Has the Selling Pressure from June Finally Ended?
17:15 Why Is STRC's Dividend Rate 12%?
30:55 Are STRC Buybacks a Sign of Weak Demand?
33:20 Strategy's Plans for Its Other Preferred Stocks
39:16 Did Strategy Grow STRC Too Quickly? How Big Can It Get?
45:49 Why Doesn't STRC Have the Same Investor Protections as SATA?
49:32 Why Not Let STRC Trade Above $100?
54:16 Can Strategy Maintain Bitcoin Amplification at Scale?
57:01 STRC vs. MSTR: Are Shareholder Interests in Conflict?
1:00:03 Do STRC Buybacks Undermine the Benefits of Perpetual Financing?
1:03:09 Maximizing Bitcoin per Share: When Should Strategy Issue Equity?
1:08:25 Behind the Scenes: How Strategy Makes Capital Allocation Decisions
1:14:02 Bringing Digital Credit Onchain with Saturn
1:17:35 Who Will Buy STRC During a Bitcoin Bull Market?
1:20:47 The Future of Onchain Credit: Global Access and Structured Products
Buybacks are calling. @ColeMacro
You can run but you can't hide. $SATA
“Strive and Strategy win together.”
The evidence suggests otherwise.
Strive is merely a diversion dam, redirecting investor attention and capital away from Strategy and into its own products.
This is why i believe there will only be 1 winner in the USD digital credit space.
The junk bond market is worth roughly $1 TRILLION.
That’s $1T in capital willing to accept significant credit risk in exchange for yield.
Now imagine even a fraction of that capital discovering $STRC.
12% annualized yield. Daily dividends. Strategy’s massive Bitcoin treasury.
How much capital could eventually flow into digital credit?
I believe $STRC is only scratching the surface.
Few understand how big this could become.
$STRC will cease to exist in 40 weeks if Saylor keeps repurchasing $205M a week.
However, if Bitcoin bull market is confirmed, these repurchases will become unnecessary as new capital flows to digital credit.
Should Strategy retire $STRD and launch a new junior preferred to compete with $SATS?
Honestly, I think it makes sense.
$STRD has lost much of its appeal.
Alternatively, retire it and focus on the three strongest products:
$STRF — Fixed, cumulative income and seniority
$STRC — Variable yield and price stability
$STRK — Income with convertible upside
Consolidate long-duration fixed-income demand into $STRF.
Less competition within Strategy’s own capital stack.
The only way to outperform Bitcoin over a decade is buying $MSTR.
Everything else is noise.
6/10 years so far and $MSTR is comfortably winning.
Over the past couple days, I’ve asked two uncomfortable questions about $ASST.
Both times, instead of receiving reasoned answers, I’ve been met with personal abuse and insults.
What happened to Bitcoin’s ethos of independent thinking?
Apparently, “Don’t trust, verify” only applies until you start questioning the crowd’s favourite investment.
The moment you scrutinise a company they’ve become emotionally attached to, you’re suddenly the enemy.
I’m not here to blindly defend Strategy or attack Strive. I’m here to question capital allocation, credit quality and the claims being made to investors.
If asking basic financial questions makes people this angry, perhaps those questions need asking even more.
Why has Adam Livingston seemingly stopped promoting $MSTR and $MPJPY since joining Strive?
I thought Matt Cole said this wasn’t a competition?
If that’s true, why not promote all three?
Almost as if Dracula Cole knows attention drives capital and wants it flowing exclusively into $ASST and $SATA.
Adam’s once broad Bitcoin platform now looks like Dracula’s personal marketing department.
Quite clearly there is a competition.
It amazes me how Saylor is so oblivious to this.
Already back above $80k
It begs the question who was actually selling their $BTC below $80k?
Room temperature IQ individuals.
Why has Adam Livingston seemingly stopped promoting $MSTR and $MPJPY since joining Strive?
I thought Matt Cole said this wasn’t a competition?
If that’s true, why not promote all three?
Almost as if Dracula Cole knows attention drives capital and wants it flowing exclusively into $ASST and $SATA.
Adam’s once broad Bitcoin platform now looks like Dracula’s personal marketing department.
Quite clearly there is a competition.
It amazes me how Saylor is so oblivious to this.
A rare occasion where I agree with the $ASST bulls.
Strategy should consider retiring $STRD.
$STRF, $STRC and $STRK are all we need.
Each serves a distinct purpose, with unique strengths and a clear investor base.
And with daily dividends, I can see demand for all three growing significantly.
Sometimes a simpler product lineup is a stronger one.
Documenting Strategy retweeted
Our goal is to grow Bitcoin per share. Here’s how Strategy puts Digital Capital, Digital Credit, and Digital Equity to work. $MSTR
When will people start demanding Strive raise its dividend rate now $SATA is struggling to reach $100?
Or is that criticism reserved exclusively for Saylor?
Can someone explain why Strive holds $50M of $STRC on its balance sheet?
They’re collecting 12% from Strategy while offering preferreds paying 13–15%.
It makes no sense to me.
Peter i sold my Bitcoin at $60k and bought Silver at $100 like you said.
Please help.
