Matt Cole (@ColeMacro)

SATA UPDATE Targeting $100 and minimizing long-term volatility remain core objectives for $SATA. But going forward, unless we communicate otherwise, investors should not assume Strive will automatically issue new $SATA shares at $100, although we expect that to remain likely under normal market conditions. To be clear, we do not view current market conditions as normal. Strive believes retaining issuance flexibility around $100 is in the best long-term interest of shareholders and the long-term stability of $SATA. We do not believe over-engineered rigidity is the best way to minimize long-term volatility. Predictable, mechanical issuance rules can invite behavior that increases volatility over time. Recent market activity suggests this risk is not theoretical. Issuance pauses or other actions will be evaluated based on what Strive management believes is in the best long-term interest of shareholders and the long-term stability of the security. The framework is transparent, but specific actions will not be telegraphed in advance. We expect to consider short interest, borrow costs, and other market data, but our analysis will not be limited to any single metric. The goal is to make the structure more resilient, not less predictable for its own sake. We asked for market feedback to pressure-test our view, and the engagement on both sides was thoughtful and constructive. We appreciate everyone who voted, commented, and reached out directly.

I was on @BloombergTV today discussing the problem Digital Credit is built to solve. Even with recent volatility, $SATA is proving its resilience as a superior income-generating asset vs. traditional income alternatives. The track record is being built in real time.

Strive acquired an additional 1,109 $BTC for ~$85.4 million at an average cost of ~$76,988 per bitcoin. STRIVE SNAPSHOT Bitcoin holdings: 16,500 QTD BTC Yield: 11.0% YTD BTC Yield: 23.4% Amplification ratio: 45.2% $ASST $SATA