Saylor Unveils Complementary Logic Behind Bitcoin-Based Credit Institutions
Michael Saylor has laid out his vision for Bitcoin-based credit institutions in a recent post on X. According to him, these institutions occupy complementary niches rather than competing with each other for capital flows. This is because they share a common capital base, with Bitcoin as the core of digital capital.
The Strive company has acquired $50 million worth of STRC preferred shares from The Smarter Web Company, marking a mutual-ownership partnership. The MORE product, launched by The Smarter Web Company on September 11, is regarded as the first preferred-share security issued by a company holding Bitcoin in the UK.
The private placement aims to raise between £15 million and £25 million through a prospectus that grants holders floating, weekly-accruing dividends, priority liquidation rights, and a redemption option. However, it excludes voting rights, allowing institutional investors to earn fixed-income returns backed by reserves without directly purchasing BTC spot.