Corporate Bitcoin buyers reshape crypto market cycles
The guest argues that corporate treasury strategies utilizing preferred equity act as perpetual buyers, fundamentally altering Bitcoin's market structure by purchasing assets during deep drawdowns.
The argument
Historically, corporate vehicles could only access capital markets to buy Bitcoin during equity market booms. The guest asserts that new perpetual preferred equity structures allow continuous buying even when Bitcoin is down 40% from its all-time high, stabilizing the market floor.
The thesis, stress-tested
✓ What validates it
- ✓Continued corporate Bitcoin accumulation during sustained crypto market drawdowns
- ✓Successful issuance of new perpetual preferred equity tranches by Bitcoin-treasury companies
▸ Risks discussed
- ▸Dependence on continuous investor demand for preferred equity instruments
- ▸Potential systemic risk if corporate credit issuers face margin calls or liquidations during extreme downturns
Hear it yourself
"So, like, the the team has just been working so hard, in that time horizon too. It's been about six months. Yeah. The team has been working crazy hard and, that's a result of how hard the team's been working. So we've just been continuously pushing the envelope and then watching the leader. Right? Strategies been incredibly successful with STRC, and we we've gotten some really good advice from the strategy team in Saylor on on how to to think about these things, communicate to the market, and, start to establish this credit profile in in the industry."
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