Strive CEO Matt Cole Stands by Bitcoin Treasury Strategy Amid Criticism

Strive Inc. CEO Matt Cole defended his company's Bitcoin treasury strategy, saying it's not about picking a fight but rather finding common ground with critics who see the move as reckless.

Cole, a former manager of over $70 billion in fixed-income assets at CalPERS, argues that both camps agree on the problem: traditional treasury strategies are struggling against currency debasement. The disagreement lies in the solution, Cole believes Bitcoin is it, while his critics think he's lost sight.

Strive now holds nearly 20,000 BTC, worth around $1.3 billion, making it the seventh-largest corporate holder of Bitcoin globally. Cole frames Bitcoin as the 'hardest hurdle rate' for corporate capital allocation, implying that if a company can't beat Bitcoin over time, it should just hold Bitcoin instead.

Critics like short-seller Jim Chanos have dismissed these strategies as 'financial gibberish,' arguing that companies using debt or equity to buy Bitcoin are adding leverage and volatility to their balance sheets. Cole disagrees, saying both sides share a recognition of fiscal challenges but differ on whether Bitcoin is the right hedge against them.

To build infrastructure around this thesis, Strive developed SATA, a perpetual preferred stock offering daily dividends and targeting a price range of $99 to $101. The company also acquired Semler Scientific earlier in 2026, expanding its Bitcoin treasury and deepening its corporate infrastructure.