Skip to content
New Episodes on X & YouTube

Part of Digital Credit

SATA — Strive

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

33 episodes · 10 research pieces

SATA is associated with Strive’s Bitcoin treasury strategy. As the parent company behind True North, Strive’s instruments represent a direct application of the treasury thesis the show covers.

This hub tracks all True North coverage related to SATA, including instrument analysis, risk models, and strategic context.

Latest on SATA — Strive

Episode

Digital Credit Is Still Misunderstood

The crew discusses why digital credit is still so misunderstood, starting with takeaways from the Bitcoin Treasuries Conference and how SATA and STRC work as dry powder that keeps earning while you wait. The crew covers SATA passing STRF in notional outstanding, the fastest horse debate, and why amplification matters more than a 1% difference in cost of capital. From there, they compare Tesla's multiple to mNAV, look at AI disruption and goodwill at Adobe, and close with a breakdown of the ASST options chain and LEAPS heading into warrant week.

Oct 8, 2026 • 1:00:37 Watch →
Episode

Bitcoin Is Cheap. Amplify Now.

In this week's Hurdle Rate, the crew breaks down Strive's latest 2,000 Bitcoin purchase, a Q3 that delivered a 99% total return, and the new $500 million SATA repurchase facility. They also discuss the goal of pushing amplification above 60% while Bitcoin is under $100K, why the market is too focused on the downside, and why US capital markets are the major leagues. The episode closes with a recap of the Bitcoin Treasuries Conference and why Luke Gromen's "paper gold" comparison doesn't fit digital credit. Here's the latest with Matt Cole, Jeff Walton, Adam Livingston, and Tim Kotzman.

Oct 6, 2026 • 1:01:41 Watch →
Episode

All In On Bitcoin

The Hurdle Rate goes LIVE at the Bitcoin Treasuries Conference in New York, back where the Strive and Semler deal started a year ago. The panel looks back on that deal, which brought the two companies' roughly 6,000 and 5,000 Bitcoin together, and explains why getting bigger was what made SATA possible. Matt explains the game theory behind SATA's daily dividend now that Strategy is following suit, and why the two companies are playing different games. The panel also covers why Strive is aiming for total returns rather than Sharpe ratio, Matt's call for $500K Bitcoin by 2030, and what comes next for Bitcoin balance sheet companies. Here's the latest with Matt Cole, Jeff Walton, Ben Werkman, and Joe Burnett.

Sep 29, 2026 • 28:02 Watch →

All episodes (33)

True North Weekly (11)

The Hurdle Rate (21)

The Income Show (1)

Research (10)

Stay on Course. Get the Signal.

Subscribe for new-episode alerts, key insights, and the occasional alpha drop. Straight from True North.

True North is for informational and educational purposes only. Nothing presented should be considered investment advice or an offer of any security or investment product. Consult your own investment and tax advisors. Full disclaimer.