Strive CEO Calls for More Issuers to Boost Bitcoin Credit Market

Strive CEO Matt Cole believes the Bitcoin-backed digital credit market needs multiple issuers to grow. He argues that institutional buyers may hit purchase limits with any single provider, making a diverse range of options essential. Strive's amplification ratio stands at 51.4%, significantly higher than Strategy's roughly 25%. This ratio measures preferred shares and debt against a company's Bitcoin holdings, with Strive's coming entirely from its SATA preferred stock.

Cole views Strive as a top contender to lead the next Bitcoin bull market. He emphasizes the importance of maintaining a high amplification ratio while ensuring exposure to Bitcoin's potential gains. His price prediction for Bitcoin in the next bull run is between $400,000 and $500,000, a range he considers conservative. This outlook is tied to a potential U.S. debt crisis that could lower long-term yields and weaken the dollar.

Despite SATA's lower trading volume compared to Strategy's STRC, Cole does not see this as a loss of market share. Even if Strategy had captured all of SATA's roughly $1 billion in volume, STRC would only be about 10% larger. He highlights the benefits of having multiple issuers as the market develops and points to Strategy's adoption of daily dividends and cash reserves as examples of competitive collaboration.

As of October 5, Strive's Bitcoin holdings totaled 29,462 BTC after a $169 million purchase of 2,000 BTC. Strategy's holdings were listed at 848,000 BTC after an addition of 334 BTC for $28.7 million. SATA offers a 13% dividend, slightly higher than Strategy's 12%.