Strive (ASST.US) Surpasses $700 Million: Unlock the Trillion-Dollar BTC Credit Market

According to Woofun AI, Strive (ASST.US) successfully raised nearly $700 million by issuing SATS perpetual preferred shares, far exceeding the initial target of $500 million, indicating that financial products supported by BTC are rapidly penetrating traditional credit markets.

In an interview with Bitcoin Magazine on October 21, Strive's chief risk officer Jeff Walton revealed details of the offering: the company sold 7 million shares at $90 each and promised a fixed annual dividend of $15 per share.

According to data compiled by Woofun AI, actual demand exceeded the expected issuance scale, and two large investors that had not previously participated in Strive's early SATA products have entered the market, confirming that new institutional capital is pouring into the BTC-supported securities sector.

Currently, Strive holds over 36,800 BTC and has recently purchased more than 10,000. Walton emphasized that currently custodian companies mainly rely on equity markets and unrated preferred stock investors, and introducing BTC-based preferred shares into the credit-rated market is the key to attracting institutional capital based on rating decisions. He pointed out that even as traditional high-yield credit spreads widened, there was strong demand for Strive products, reflecting a surge in market interest in alternative credit products. Walton described this type of competition as a 'gold mining fever' and believes that as demand from BTC custodians, spot ETFs, and credit investors rises, competition around limited BTC supply will intensify, which in turn will drive up prices. To guarantee stability, Strive plans to set aside cash to cover 18 months of dividend payments.

Additionally, Walton criticized MSCI's (MSCI.US) restrictions on BTC custodian companies that may hinder investment opportunities, and is convinced that new products that meet traditional rating standards will further boost BTC demand.

This strategy aims to break the barriers between institutional credit and BTC assets. With the improvement of the rating mechanism, traditional capital is expected to enter on a large scale, reshaping the liquidity structure of the BTC financial ecosystem.