Episode notes
Matt Cole spent fifteen years at CalPERS — the largest public pension fund in the U.S. — running more than $70 billion in global fixed income, where his portfolios reportedly never underperformed their benchmark in a single year. Today he's Chairman & CEO of Strive (Nasdaq: ASST), the first publicly traded asset-management Bitcoin treasury company — and the man who just made a security pay a dividend every single business day, the first time that's ever happened in U.S. market history.
This is the structured-finance mind behind "digital credit" — the idea that you can split a perpetual Bitcoin position into two instruments: a low-volatility, yield-bearing preferred (SATA, now paying daily) and the amplified Bitcoin common stock underneath it. Matt explains why he calls digital credit the biggest story in Bitcoin, how a zero-debt balance sheet survives Bitcoin going "to one penny tomorrow," and why he's laser-focused on a thirty-year digital gold rush. If you've ever wondered what happens when a Wall Street fixed-income operator goes all-in on Bitcoin — this is it.
We discuss:
- The first security in U.S. market history to pay a dividend every business day — and why "the dividend event is no longer an event"
- Digital credit as the biggest story in Bitcoin — attacking a $300 trillion TAM, where 1% is larger than Bitcoin's entire market cap today
- Zero debt and 18 months of dividend reserves — why "Bitcoin could go to one penny tomorrow and we don't blow up"
- Why Michael Saylor called Strive's SATA the most interesting story in Bitcoin right now
- "Bitcoin is hope" — the line that closes the show
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Strive (Nasdaq: ASST) → strive.com
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