Bitcoin Magazine has published a video titled Jeff Walton: Where the Next Trillion Dollars for Bitcoin Comes from, $SATS IPO Update, written by Patrick Green. The segment features Jeff Walton, chief risk officer at Strive, discussing the latest developments around the company’s SATS preferred stock IPO and the market for Bitcoin-backed preferred equity.
Strive raised $700 million as credit spreads widened
The central point highlighted in the program description is that Strive raised $700 million for Bitcoin while CCC high-yield credit spreads were blowing out. Walton says that result shows a growing market for Bitcoin-backed preferred equity.
He also discusses the upsized SATS offering, how high Strive may be able to take its amplification ratio, the difference between SATS and SATA as capital-raising tools, and the structure of Strive’s 18-month dividend reserve.
Topics listed in the video chapters
The published chapter list breaks the discussion into the following sections:
- 00:00 Strive Raises $700M in SATS Preferred Stock IPO
- 02:11 Behind the Scenes of the Upsized SATS Offering
- 05:03 How High Can Strive Take Its Amplification Ratio?
- 07:01 SATS vs. SATA: A New Tool for Raising Capital
- 08:36 Strive’s 18-Month Dividend Reserve Explained
- 11:13 Surviving the Longest Bitcoin Bear Market With No Capital Access
- 13:36 Strategy’s Daily Dividend Vote and STRC Returning to Par
- 15:59 “A Gold Rush”: New Capital Pools Chasing Bitcoin
- 18:54 Raising Capital as High-Yield Credit Spreads Blow Out
- 22:27 MSCI’s Bitcoin Treasury Exclusion and the Vanguard Parallel
Walton’s view on the next trillion dollars for Bitcoin
According to the episode description, Walton discusses the future of rated capital and says he believes that is where the next trillion dollars for Bitcoin comes from. The program also references Strategy’s daily dividend vote and STRC returning to par.
Program disclaimer
The disclaimer attached to the post says the views and opinions expressed in the show are those of the participants and do not necessarily reflect the official policy or position of BTC Inc., Bitcoin Magazine, or affiliated entities. It also says the content is provided for informational and educational purposes only and should not be construed as investment, legal, tax, or accounting advice. Nothing in the show constitutes a solicitation, recommendation, endorsement, or offer to buy or sell securities or financial instruments, and viewers are advised to consult their own advisers before making financial or business decisions.