Strive’s $700M SATS Raise: Fixed Coupon vs. STRC | Bitcoin Today Short

Jeff Walton of Strive walks through the $700M SATS placement and defends the fixed coupon against STRC's floating rate. The room presses him on SATA versus SATS, what happens if yields fall, and whether anything in the structure can force a sale of the bitcoin. Cut from today's full Bitcoin Today Space.

Loren and Terence host Bitcoin Today live on X, weekdays at 8:30 AM PT.
Full episode: https://open.spotify.com/episode/0cCuLZuzCBOV4jWmTft0a7
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CHAPTERS
0:00 Strive's $700M SATS raise
2:25 SATA vs SATS explained
4:00 What if yields fall?
8:00 Fixed coupon beats STRC floating
10:00 Building the capital stack
12:00 Nothing forces selling the Bitcoin
16:00 Pricing the raise: 90 vs 95
20:00 Matching investors to credit quality
22:16 If SATA depegs, who gets sacrificed?