Topics

Digital Credit

Yield-bearing financial instruments with indirect Bitcoin exposure — the emerging Layer 2 of the digital capital framework.

Bitcoin Macro Landscape

Global liquidity, interest rates, and monetary policy through the lens of Bitcoin and digital credit.

Bitcoin Capital Markets

The emerging Bitcoin capital stack — debt, equity, structured products, and market infrastructure.

Bitcoin for Business

Resources and education for executives considering Bitcoin treasury operations. From first principles to implementation playbooks.

Bitcoin Treasury Strategy

Analysis and insights on how public companies are integrating Bitcoin into their balance sheets, from convertible bond financing to BTC yield metrics.

mNAV Analysis

Tracking and analyzing the multiple-to-net-asset-value (mNAV) of Bitcoin treasury companies. The core metric for evaluating whether these companies trade at a premium or discount to their Bitcoin holdings.

MSTR Analysis

Deep dives on Strategy (formerly MicroStrategy), the pioneer of corporate Bitcoin treasury strategy. Covering earnings, acquisitions, mNAV trends, and strategic outlook.

Risk Parity & Portfolio Construction

How Bitcoin treasury instruments fit into institutional portfolio construction. Risk parity frameworks, correlation analysis, and allocation models for digital credit.

SATA — Strive

Part of Digital Credit

Coverage and analysis of SATA. Instrument design, risk analysis, and comparison to other digital credit products.

STRC — Strategy Preferred Equity

Part of Digital Credit

STRC is Strategy's preferred equity instrument, offering exposure to Bitcoin treasury returns through a structured product with defined dividend characteristics. Track our analysis, risk models, and coverage.