A four-star admiral just told the Senate that Bitcoin is a power projection tool.
Meanwhile CCP's monetary think tank is already publishing its own research on BTC as a strategic asset because BPI has been doing it here. They are not confused about what this is.
The tradfi advisors still calling it speculation are going to be the last to know.
Read Softwar, damnit.
April’s “As of the 21st” just shipped.
Schwab, Strategy, and Citigroup. Oh my!
As of the 21st
April 21st, 2026
“Interested in Bitcoin but scared of the volatility” is the single most common sentence out of prospective clients.
Most advisors who have never held a sat tell them to stay away.
An advisor who actually holds it can size and structure the position to a drawdown they will not panic-sell.
The exposure is still the trade.
Fiat debasement is a guarantee.
MSTR Sats per Share has nearly doubled in the last 3 years.
Oh, you thought last week’s $STRC issuance was crazy?
Strategy is proposing to pay STRC dividends semi-monthly instead of monthly.
Same annual rate. Same obligation. Twice the cadence.
Most Americans get paid semi-monthly. STRC would be on the same rhythm as the paychecks it replaces.
A new derivatives product launching this week worth understanding if you have any retirement money sitting in alternative funds, BDCs, or target date allocations. Educational content, not investment advice.
#privatecredit #bitcoin #financialeducation
Reminder: if we taxed every dollar of wealth from billionaires, we’d be able to run the government for like, a year.
Maybe it’s a spending problem..
Strategy raised $1 billion in a single week selling preferred stock and used every dollar to buy Bitcoin. No common stock dilution. Here is how the capital structure actually works.
STRC’s dividend rate is variable and subject to change. Past performance does not guarantee future results. This is educational content, not investment advice. Not a recommendation to buy or sell any security.
#Bitcoin #STRC #Strategy #investing #financialeducation
My take on private credit and the possible contagion effects into life insurance.
For educational and informational purposes only. Not financial advice.
Psalm 22:16–18
“For dogs encompass me;
a company of evildoers encircles me;
they have pierced my hands and feet—
I can count all my bones—
they stare and gloat over me;
they divide my garments among them,
and for my clothing they cast lots.”
War is so fiat.
GM, Happy Sunday!
“Be still, and know that I am God; I will be exalted among the nations, I will be exalted in the earth.”
— Psalm 46:10
Powell delivers his second to last speech today. Wonder if private credit will play into their decision.
Again, insane and archaic that the entire global economy hinges on the words of one man.
Again, private credit is cracking.
Morgan Stanley put out an 8% default rate projection for direct lending. AI is repricing the software sector, and software companies make up 25-35% of many private credit portfolios. These are companies that borrowed at peak valuations when rates were low, and now their competitive moats are eroding faster than anyone modeled.
Blackstone had $3.8B in withdrawal requests on BCRED. Cliffwater capped redemptions at 14%. Blue Owl stopped them entirely.
The capital leaving private credit needs a destination. It needs yield, liquidity, and something resembling honest pricing. I think digital credit built on Bitcoin is that destination, and the reallocation hasn’t even started yet.
People aren’t bad at saving, they’re just saving in the wrong things.
GM
Strategy bought 22,337 BTC last week. Over 0.1% of the total supply.
$1.18 billion came from STRC. “Only” $396 million from selling MSTR common equity at a ~1.14x mNAV. The preferred instruments are now the primary engine.
Strategy is layering credit on top of Bitcoin as a reserve asset. STRC pays 11.50% yield, adjusts monthly, trades ~$100 par, and is overcollateralized roughly 5x. It functions more like a fixed-income instrument than an equity position, but the collateral underneath is the hardest money ever created.
Hal Finney wrote about this kind of architecture years ago. He envisioned Bitcoin transactions being rare, with most economic activity happening on layers above the base. Most people never touching the underlying Bitcoin, just interacting with instruments build on top of it.
That is exactly what STRC is. A credit layer on top of Bitcoin’s monetary base. And it raised $1.18 billion in a single week while private credit funds are literally shutting their gates to prevent people from leaving.
The capital reallocation from legacy credit to digital credit is not a prediction game anymore. It is happening in real-time!
Standard Oil didn’t get big because oil was valuable.
It got big because Rockefeller figured out that raw crude is useless until you refine it and build the plumbing to move it through the economy.
That exact ‘Strategy’ is being executed right now.
