Ben Werkman

Plug into higher yield with $SATA.

12.75% Yield? How Strive Turns Bitcoin Into Income w/ @ColeMacro We dive into: - The 'bitcoin credit' strategy - How $SATA pays 12.75% - Why Bitcoin as collateral is mispriced - What could go wrong? 🎥: youtu.be/d5pJyBVUkAk 🎧: open.spotify.com/episode/3rCn3a…

Out of the numerous successes Strive had in our first six months as a public company, the most important was cementing our foundation as a structured finance company laser focused on digital credit. We see a multi-trillion dollar opportunity for digital credit to scale in the years to come. We believe our digital credit product, SATA, provides a liquid and scalable solution for investors targeting double-digit yield with minimal volatility. We’re focused on building a track record of success for SATA by maintaining a stable trading range and keeping a strong balance sheet, which we believe will generate attractive long-term returns to our common equity stockholders vs our Bitcoin hurdle rate. $ASST $SATA

Build a strong foundation.

Waiting For The World To Catch Up | True North Podcast | Ep. 59 x.com/i/broadcasts/1…

@julianhosp You haven’t ever bothered to look at the amount of volume Bitcoin trades daily have you?

Die Wahrheit hinter Bitcoin 76k📉 (Siehe Grafik) Käufer: Genau EINER. Saylor stützt den Preis mit $1,6 Mrd. (auf Pump) . Verkäufer/Abgänge: Dalio, Druckenmiller, Chamath. Das Smart Money geht. Wenn Saylors Geld endet, crasht der Markt. Bist du vorbereitet? 👇

@ShippMedia @Z06Z07 @BitcoinCarl_

@Z06Z07 @BitcoinCarl_ I actually thought I was reading a @Werkman post just now. We need Grain back in a helmet.

As much as I want MicroStrategy to win, they need to go bankrupt for us to kick off the next Bitcoin bull run. Sorry, I don’t make the rules!

Plug into higher yield with $SATA.

We are back with another episode of @HurdleRatePod! This week we spent time going through the recent updates to $SATA and $ASST and what it means to build a foundation for success in the Digital Credit & Treasury sector. Enjoy!

3/16/26 Digital Credit Trading Volume *Relative to JP Morgan Preferred* Today: $SATA traded ~$25M, 5.8% of notional O/S $STRC traded ~$247M, 4.9% of notional O/S $JPM-PD traded $2.8M, 0.2% of notional O/S $SATA traded ~ 9x more volume than JPM-PD $STRC traded ~ 100x more volume than JPM-PD It would take roughly 605 Days, at 100% of daily trading volume for the market cap of the JP Morgan preferred instrument to turn over (exchange hands to a future holder). JPM-PD Current effective yield ~ 5.8% For $SATA 17 days (12.75% dividend) For $STRC 20 days (11.5% dividend) Digital Credit > Traditional Credit

@hillery_dan Several...

@Werkman Absolute signal that there is a big boy on the other side of the STRC bid.

~75% of the purchase this week came from the demand for STRC leading into the record date last week.

Virtual stream with @notthreadguy today considering "the full implications of @saylor being right" I break down $STRC & $SATA from a basic level. - How'd we get here - How does this work - How to think about these instruments - How much capital can buy these? Tune in: 0:50 – Intro 1:48 – Reinsurance to Bitcoin treasury 4:56 – BTC Treasury history, post-2021 unwind 7:42 – Perpetual preferred equity launch (STRK/STRC) 10:44 – High yields (11.5–12.75%) vs. bank preferreds 13:37 – Underwriting Bitcoin, long-term 25–45% CAGR 15:21 – Backtesting the yield model; excess risk/return 19:37 – Liquidity advantage $STRC trades 100x+ more than JPM 22:43 – Targeting trillions in fixed-income capital 25:58 – Low dividend-risk probability vs. credit market 28:30 – Preferred = low-vol BTC; common = high-vol/amplified BTC 30:08 – High volume enabling ATM liquidity 36:32 – Strive lower leverage (1%) vs. Strategy (12%) 39:03 – Capital raising & maintaining credit profile 41:37 – Massive TAM (200–300T fixed income) 43:41 – Host recap: cool product, new capital access thesis

@Werkman Need get $SATA beefed up and secure more Bitcoin 😏

We’ve got some work to do. Ur-Energy? Glass House Brands?

This week, we narrowed the targeted $SATA price range to $99-$101, updated guidance to not issue SATA below $100.00, and increased the dividend for next month to 12.75%. Interested in buying SATA before the April 1, 2026, record date? It is currently available on most brokerages, including Robinhood.

@AdamBLiv "Everyone should think of credit as civilization's shared hallucination that tomorrow will exist" 🔥🔥🔥

WOW, THIS AGED WELL! Look at what is happening with private credit and digital credit this week. We're just getting started.

@ZynxBTC Imitation is the sincerest form of flattery.

Another big player just entered $STRC. Someone bought ~$50M worth right before the close. Like Tuesday, you can see the massive volume spike in the final 45 minutes of trading on the chart. Last time it was Strive, who's it this time? This is getting fun... and very bullish.

A De Minimus exemption for Bitcoin transactions is critical. When important issues get separated vs other industry issues & discussion is delayed, that is code for "its not our priority but we'll pretend we care" then fundraise off it next cycle. Reject that, the time is now.

We're Live! x.com/i/broadcasts/1…