Show notes
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/0cCuLZuzCBOV4jWmTft0a7Follow on X: @lorenhodl and @proofofmoneyCHAPTERS0:00 Strive's $700M SATS raise2:25 SATA vs SATS explained4:00 What if yields fall?8:00 Fixed coupon beats STRC floating10:00 Building the capital stack12:00 Nothing forces selling the Bitcoin16:00 Pricing the raise: 90 vs 9520:00 Matching investors to credit quality22:16 If SATA depegs, who gets sacrificed?
