"If you're a short seller and your thesis is the company's got to sell equity in order to fund the dividends, I would like nothing better than to rip your wings off." — @saylor, Strategy Q1 2026 call on May 5, 2026
I sat down with Strive CEO Matt Cole to discuss digital credit, $ASST, and $SATA.
@ColeMacro breaks down the mechanics, the dividend structures, what the risks are, Michael Saylor's decision to sell bitcoin, and why a thriving ecosystem of digital credit issuers is better for bitcoin long-term.
YouTube: https://t.co/LeAzeGyAhW
Apple: https://t.co/KwV4G1H7Bt
Spotify: https://t.co/qGM47hlkE4
TIMESTAMPS:
0:00 - Intro
0:41 - What is digital credit & what problem does it solve?
5:17 - How the carry trade works
8:48 - Daily dividends & dividend structure
10:52 - Downside risk & balance sheet protection
16:18 - The strongest critique of digital credit
19:32 - Michael Saylor selling bitcoin
27:03 - Bitcoin price action vs. bullish headlines
31:32 - Where is digital credit taking capital from?
36:44 - Banks, Jamie Dimon & systemic risk
38:52 - Strive vs. Strategy
42:38 - Too much bitcoin held by public companies?
48:33 - Strive's mission & the road ahead
$MSTR holders are betting that bitcoin appreciation will exceed the cost of dividends.
Bitcoiners who think $MSTR will fail are betting on Schrodinger's BTC that will simultaneously be the best performing asset in human history and underperform a 10% non-compounding dividend.
@hillery_dan@JamesWynnReal $20K to $3K drawdown of 2017 was brutal (just after peak euphoria). Those were dark days where you questioned the thesis, not just the conviction.
The Income Show | Ep 4. ft. @jakob_btc
Our host @IIICapital sits down with Jakob Schillinger to discuss the Future of Money, Technology, Digital Credit, AI, @HermeticaFi, and Bitcoin.