How Metaplanet Bought a $13 Million Shortcut for Its Preferred Shares
The acquisition of Siiibo Securities is dressed up as Project Nova. Read more carefully and it looks like a licence to go around the exchange rules blocking Mars and Mercury.
Latest Articles
BPS or CEBE? The Debate Dividing Bitcoin Treasury Leaders
BPS tells you what a company holds. CEBE mNAV tells you what you own - and what the market is charging for it. The gap between them is the number that actually matters to common shareholders.
Why Metaplanet Should Buy Nakamoto to Issue US Bitcoin Preferred Stock
Strive's CEO sketched a deal between Metaplanet and Nakamoto on a recent podcast. He has no insider knowledge. The idea is worth examining anyway, because it answers a question each company is currently failing to answer alone.
Inside Falconedge: How One UK Treasury Firm Earns Yield in a Downturn
Falconedge was spun out of a successful 12-year-old hedge fund business with an award-winning institutional multi-strategy fund, leveraging that foundation to build a dedicated Bitcoin treasury management operation.
The Case for Raising STRC’s Dividend: 11.5% Is Falling Short
The case for STRC is intact. The case for holding the dividend at 11.5% is no longer. The product works. The mechanism has a blind spot.
Smarter Web Moves to Launch UK’s First Bitcoin "Preferred" Stock
On 1 June, The Smarter Web Company (LSE: SWC) posted a circular convening a general meeting for 17 June. The headline item is a proposed reduction of its share premium account by £210,000,000, subject to a shareholder vote and confirmation by the High Court, with an effective date expected on or aro...
Headhunting Bitcoin: Inside the XCE Treasury Strategy
An international executive recruitment agency on Aquis is building its Bitcoin treasury position through earned fees, a Bitcoin-denominated convertible program, and accretive equity issuance - while the market prices only half of what Scott Ellam has built. A close look at the XCE treasury model, an...
Strategy Retires Convertible Bonds Early in Major Capital Structure Move
On May 14, Strategy filed an 8-K disclosing the repurchase of approximately $1.5 billion face value of its 0% Convertible Senior Notes due 2029. The company paid an estimated $1.38 billion in cash - below par - to retire the position in privately negotiated transactions. The notes were cancelled on...
Strategy's Hidden Funding Spread - And Why It Changes Everything
When Strategy disclosed its mNAV accretion floor at Q1 2026 earnings, it wasn't issuing guidance. It was publishing the architecture of a synthetic funding curve - and confirming that the metric most investors treat as a sentiment gauge has become the primary variable in the company's cost of capita...
Why Britain Is Losing the Bitcoin Race to America
On April 21, a US combatant commander told the Senate that Bitcoin is a tool for American power projection. The UK held 61,000 BTC in its seized asset register the same week and had no policy. The gap is not accidental.
Strive Announces Daily Dividend Payments for SATA Preferred Stock
Strive announced today, May 14, that SATA will pay dividends every business day beginning June 16. The mechanics are a genuine capital markets innovation. The reason Strive built them is not what the headline suggests.
Inside B HODL: The UK’s First Active Bitcoin Treasury Company
The first UK‑listed company founded for Bitcoin accumulation and revenue generation from the Bitcoin in its treasury is putting its Bitcoin to work. A close look at the model Freddie New is building, and what it means for the UK's emerging Bitcoin treasury ecosystem.