Mattt Cole

Chairman & CEO @Strive Christ, Liberty, Bitcoin $ASST $SATA @hurdleratepod

[Mattt Cole @ColeMacr00]

STRIVE UPDATES
- Acquired an additional 333.9 Bitcoin
- Now the 10th largest corporate Bitcoin hodler
- 92% of Semler debt retired w/ plans for 100% by April
- 37% amplification ratio w/ 98% of amp from $SATA
- 21% Bitcoin yield in 1Q26
- Dashboard updated
$ASST

[Strive @Strive]

Strive Announces Closing of Upsized & Oversubscribed Follow-On Offering of SATA Stock and Concurrent Exchange of Semler Notes

- The Company used a portion of the cash proceeds from the offering of SATA Stock to retire the legacy Semler Scientific $20 million loan with Coinbase Credit Inc.

- The Company was able to retire $90 million of the $100 million outstanding convertible senior notes in exchange for approximately 930,000 shares of SATA Stock and plans to retire the remaining $10 million by April 2026.

- The Company acquired 333.89 Bitcoin at an average price of $89,851 and now holds 13,131.82 as of January 28, 2026, making Strive the 10th largest corporate holder of Bitcoin globally.

[Mattt Cole @ColeMacr00]

Our perpetual preference: short fiat & long Bitcoin.

[Mattt Cole @ColeMacr00]

I’m making some inspirational artwork for my office of X posts from this bear market of the bewildered trying to dance on the graves of Bitcoin, BTCTCs, Strive etc.

Drop the best you’ve seen in the comments. Going to be epic motivation to watch them age poorly for years to come.

[LevFinor @LevFinor]

I’ve read a lot of nonsense from the moon boys in the #BTC treasury space, but $ASST reverse split being "bullish" takes the crown.

“IT’S TO ALLOW INSTITUTIONS TO BUY BRO” 😂😂

This sector thrives on retail swallowing any narrative, it’s borderline predatory.

Celebrating a distress signal = you are the exit liquidity.

[Richard Farr @farrmacro]

Concur with @michaeljburry . Our BTC price target is 0.0. That's not just for shock factor. It's where the math takes us. It's not worked as a dollar hedge, rather it's just a speculative instrument correlated to the Nasdaq. It's not gaining any traction as medium of exchange. No serious central bank will ever own something where Michael Saylor controls the float. The miners (who are the network) are bleeding cash. It's horribly inefficient as a transaction processor and wastes tremendous amounts of energy. Nothing "green" about this "coin". We think it's a zero.

https://t.co/1wpzHhwax2

[lil retard @comic]

When $MSTR gets liquidated or goes to $0, then bitcoin rips higher.

We just shakeout the tourists

[nic carter @nic_carter]

karma doesn't drive markets, but bitcoiners surely deserve it for

- embracing DATs
- idolizing a guy that sells $1 of Bitcoin for $1.50 to retail
- believing in fantasies like "the four year cycle" and "stock to flow" or an ever growing MSTR premium
- embracing apocalyptic self-serving ideologies like "hyperbitcoinization"
- denying obvious realities, like the fact that stablecoins stole the MoE crown from BTC
- persisting in delusions like "the lightning network will work any day now"
- spending dev resources on wasteful navel-gazing instead of fixing real problems

[Ben Hunt @EpsilonTheory]

The problem with Bitcoin becoming Bitcoin TM is that you can borrow on Bitcoin TM. This all just feels very off to me. Like we’re on the verge of a major deleveraging event.

[Mattt Cole @ColeMacr00]

Possibly the centerpiece:

[Democrats @TheDemocrats]

Yikes

[Mattt Cole @ColeMacr00]

Our Bitcoin bullishness drives our high amplification. Our understanding of Bitcoin vol drives us to not post margin, not encumber Bitcoin & avoid debt.

The plan is working as intended...the upside Bitcoin offers comes with vol. We plan for it & we embrace it. $ASST $SATA

[Jeff Walton @PunterJeff]

With Bitcoin at $69,500, Strive $ASST has:

BTC USD Value: $912M

Debt: $10M

Leverage Ratio: 1.1%
Even at the low of $60,000 BTC yesterday, our leverage ratio was 1.27%

Preferred Equity $SATA: $426.6M

BTC USD Capital Dividend Coverage: ~17.4 years

Amplification: 47.8%

Market Cap: ~$685M

Similar Market Cap companies:
Build - A - Bear $BBW $720M
Cars .com $CARS $680M
Dave & Busters $PLAY $680M
Sweetgreen $SG $720M
Cracker Barrel $CBRL $740M
Kodak $KODK $740M

To our knowledge, zero of the above companies hold any Bitcoin.

[Jeff Walton @PunterJeff]

With Bitcoin at $69,500, Strive $ASST has:

BTC USD Value: $912M

Debt: $10M

Leverage Ratio: 1.1%
Even at the low of $60,000 BTC yesterday, our leverage ratio was 1.27%

Preferred Equity $SATA: $426.6M

BTC USD Capital Dividend Coverage: ~17.4 years

Amplification: 47.8%

Market Cap: ~$685M

Similar Market Cap companies:
Build - A - Bear $BBW $720M
Cars .com $CARS $680M
Dave & Busters $PLAY $680M
Sweetgreen $SG $720M
Cracker Barrel $CBRL $740M
Kodak $KODK $740M

To our knowledge, zero of the above companies hold any Bitcoin.

[Mattt Cole @ColeMacr00]

This post will age well.

[Pierre Rochard @BitcoinPierre]

Short-term, bitcoin is collateral damage from the collapse of the “crypto industry”.

Long-term, this collapse is long overdue and much needed. The crypto industry was slowing down bitcoin adoption with their false narratives.

I’ve never been more bullish!

[Strive Clips @Striveclips]

CEO of @strive, @ColeMacro, joins the @OneChairPod to discuss the bear market, digital credit, USD reserves, and more.

Full Podcast: https://t.co/DVm5aDaAJ3

[Quentin @quentinisonx]

Thank you for your time @ColeMacro and your great insights into @strive and what it means to successfully manage a bitcoin treasury company through a $BTC bear market. $ASST

[Mattt Cole @ColeMacr00]

Important conversation with the guys at @OneChairPod on the Bitcoin bear market, digital credit, and my forward looking views.

Realized resiliency through a bear market - not selling BTC & meeting interest obligations - grows a track record for future institutional growth.

[One Chair @OneChairPod]

Everyone thinks @strategy $MSTR will be forced to sell $BTC in this bear market.
They’re wrong.

Digital credit $STRC $SATA changes the playbook.

@ColeMacro from @strive $ASST explains how this bear market is the real stress test and it’s about to prove the strength of the Bitcoin Treasuries with Digital Credit.

00:00 Introduction: Matt Cole
02:35 Matt Cole’s Story: From CalPERS ($70B) to 100% Bitcoin
07:23 Bitcoin Below $75K: Why Matt Isn’t Worried
11:35 Bear Market Shakeout: Which Bitcoin Treasury Companies Survive
17:38 Digital Credit + Preferreds: The Strategy to Avoid Liquidation
19:37 Why Strive Built a USD Reserve (and Strategy Copied It)
25:58 Credit Ratings: Why S&P’s MSTR Rating Makes No Sense
30:55 Strive x Semler Deal: Why They Merged + Debt Payoff Plan
43:03 “Why Replace 4% Debt With 12% Preferreds?” Explained
46:54 Why Strive’s SATA Band Is Wider Than Strategy’s
50:13 Will Strive Launch More Preferred Products?
52:16 Final Thoughts: Why This Bear Market Is a Huge Opportunity
53:57 Polymarket Betting on MSTR Bankruptcy (Matt Reacts)

[Hurdle Rate Clips @HurdleRateClips]

CEO of @strive, @ColeMacro, on the choice facing the next Fed chair.

"Continue the drugs or kill the dollar..."

[Mattt Cole @ColeMacr00]

Important conversation on implications & takeaways from Warsh's nomination as Fed Chair, plus a framework discussion on building bear resistant corporate Bitcoin treasury structures & the institutional importance of building a real track record through a down market. Tune in!

[The Hurdle Rate Podcast @HurdleRatePod]

Welcome back to The Hurdle Rate.

Episode 46: Build The Structure

The crew is back to unpack Kevin Warsh as Fed Chair, Clawdbots & Moltbook, and the pref-only model and digital risk—plus a separate discussion on Bitcoin as a term asset and what a potential supercycle could mean.

Here's the latest with @TimKotzman , @ColeMacro, @PunterJeff and @Werkman.

00:30 – Welcome Back to The Hurdle Rate
01:35 – Kevin Warsh Named Fed Chair
25:08 – Clawdbots & Moltbook
32:40 – The Pref Only Model & Digital Risk
44:35 – Bitcoin as a Term Asset & What a Supercycle Means

[Luke Gromen @LukeGromen]

“I’m really excited about the partnership between him and Bessent,” Druckenmiller said. “Having an accord between the Treasury secretary and Fed chair is ideal.”

Source: FT article, released 55 minutes ago. Link below

🤔

[Mattt Cole @ColeMacr00]

Warsh fits this definition of “smart.”

He has been a consistent QE hawk, is pro Bitcoin, and understands that AI is fundamentally deflationary, which suggests rates are likely too high. Ideologically, he is about as aligned with Bitcoiners and forward thinkers as you will find

[Joe Burnett, MSBA @IIICapital]

I think @ColeMacro is spot on.

Lately I have been getting flashbacks to the 2018 bitcoin bear market. As I refined my BTC thesis back then, my conviction increased even as price moved against me all year.

Today, the fiat debasement thesis and the global shift toward scarce, permissionless, neutral assets with no counterparty risk feels increasingly clear.

Gold’s strength reflects that shift.

Bitcoin represents a structurally better version of the same idea, with perfect scarcity, internet portability, and cryptographic auditability.

Short-term price action remains disconnected from fundamentals.

Bear markets can always extend further. In 2018, bitcoin fell from ~$6,000 to ~$3,000.

But from a modern value investing perspective, bitcoin looks extremely compelling here.