The crew opens with a balance sheet check-in on Strategy and Strive, then dig into why amplification, not a 1% difference in cost of capital, is the biggest driver of long-term shareholder returns. They share takeaways from the Bitcoin Treasuries Conference, walks through Strategy’s move to daily dividends and what that could mean for STRC, SATA, and AI agents managing capital, and closes with a Warrants 101 breakdown covering how warrant holders hedge, why warrants are a capital injection rather than a sign of stress, and what exercise would mean for Strive’s balance sheet.
Market Snapshot
As of 9/30/26:
- Open: $160.82 | Close: $153.09
- Volume: ~17.3M shares
- mNAV: ~1.13 | Market Cap: ~$50.6B
- BTC Holdings: 847,666