ASST's New 15% SATS Preferred: Higher Yield, Higher Risk?

<p>Is Wall Street mispricing Bitcoin-backed credit? And could the next wave of institutional adoption fundamentally change how investors own Bitcoin?</p><p>Digital Credit is expanding rapidly. Strive (ASST) is introducing SATS, a new perpetual preferred stock offering a 15% dividend. Smarter Web (SWC) has launched MORE in the UK. And Strategy (MSTR) continues to reshape the market with STRC.</p><p>In Episode 6 of Inside the Walls, we explore the accelerating evolution of Bitcoin Treasury companies, the institutional opportunity in Digital Credit, the macroeconomic forces shaping Bitcoin&#39;s next move, and why the future of Bitcoin custody might look very different from what many Bitcoiners imagined.</p><p><br></p><p>In this episode:</p><p>🔸 The Digital Credit Revolution: Strive&#39;s new SATS preferred stock, offering a 15% dividend, and what its introduction means for SATA, Strategy&#39;s STRC, and the broader Bitcoin credit market.</p><p>🔸 Smarter Web&#39;s MORE Launch: Why TOBAM participated in the £10 million offering, how institutional investors evaluate its risk-adjusted returns, and why European Digital Credit could become a major opportunity.</p><p>🔸 Is STRC Fundamentally Mispriced? André Dragosch examines Strategy&#39;s credit rating, dividend yield, and the potential disconnect between Bitcoin-backed securities and traditional high-yield markets.</p><p>🔸 The Next Institutional Asset Class: Could Bitcoin-backed perpetual preferred stocks eventually become part of diversified credit ETFs, institutional portfolios, and traditional income strategies?</p><p>🔸 Inflation, the Fed &amp; Bitcoin: With US inflation accelerating and financial conditions tightening, could Bitcoin and Bitcoin Treasury companies benefit from a rotation away from expensive equities, AI stocks, and gold?</p><p>🔸 The Future of Bitcoin Custody: Following a reported Ledger supply-chain compromise, we challenge one of Bitcoin&#39;s most deeply held principles: Not your keys, not your coins. Is institutional custody inevitable as Bitcoin adoption scales?</p><p><br></p><p>Bitcoin is no longer simply entering traditional finance through ETFs. It is beginning to reshape the instruments, capital structures, and institutions operating within it.</p><p><br></p><p>Follow the crew on X:</p><p>- Alexandre Laizet: https://x.com/AlexandreLaizet</p><p>- André Dragosch: https://x.com/Andre_Dragosch</p><p>- Yves Choueifaty: https://x.com/YChoueifaty</p><p>- Valentin Kosanovic: https://x.co