Everyone Thinks MSTR Will Sell Bitcoin. They’re Wrong. (w/ Matt Cole)

Bitcoin is crashing, sentiment is collapsing, and the market is filled with rumors that Strategy (MSTR) could be forced to sell Bitcoin. Matt Cole (CEO of Strive) explains why that narrative is pure FUD.

In this episode, we sit down with Matt Cole to break down the Bitcoin bear market, why he believes this drawdown will likely be shorter than past cycles, and how Bitcoin treasury companies like Strategy and Strive are using digital credit / preferred equity to survive volatility without liquidation.

Matt also shares his incredible story: from managing $70B in fixed income at CalPERS (America’s largest pension fund) to going 100% Bitcoin, and explains why he believes the U.S. debt crisis and QE make Bitcoin’s long-term fundamentals stronger than ever.

We also go deep into Strive’s merger with Semler Scientific, how they retired debt so quickly, why they built a USD reserve, and what the MSTR + STRC preferred strategy means for the future of Bitcoin treasury companies.

If you’re watching Bitcoin, MSTR, or the next wave of corporate Bitcoin adoption, this is a must-watch.

00:00 Introduction: Matt Cole

01:15 Matt Cole’s Story: From CalPERS ($70B) to 100% Bitcoin

06:04 Bitcoin Below $75K: Why Matt Isn’t Worried

10:16 Bear Market Shakeout: Which Bitcoin Treasury Companies Survive

16:18 Digital Credit + Preferreds: The Strategy to Avoid Liquidation

18:18 Why Strive Built a USD Reserve (and Strategy Copied It)

24:39 Credit Ratings: Why S&P’s MSTR Rating Makes No Sense

29:36 Strive x Semler Deal: Why They Merged + Debt Payoff Plan

41:43 “Why Replace 4% Debt With 12% Preferreds?” Explained

45:35 Why Strive’s SATA Band Is Wider Than Strategy’s

48:54 Will Strive Launch More Preferred Products?

50:57 Final Thoughts: Why This Bear Market Is a Huge Opportunity

52:38 Polymarket Betting on MSTR Bankruptcy (Matt Reacts)

🚨 EVENT 🚨 Make sure to get your One Chair Podcast Ticket!

- Front Run — The Bitcoin Treasuries Pre-Party: https://luma.com/FrontRun

Big thanks to Little Bubble for allowing us to use his song: "One Chair": https://open.spotify.com/track/0XW7JgR2Nlg7WXGOeVT64h?si=a344b82984f74f81

Follow our Guest:

- Matt Cole: https://x.com/ColeMacro

- Strive: https://x.com/strive

- Strive: https://strive.com/

DISCLAIMER: This is not is financial advice. This podcast is for educational and entertainment purposes only.

Thank you for listening!

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