Strive CEO Positions Company as Top Contender for Next Bitcoin Bull Market
Matt Cole, CEO of Strive, is asserting his company’s position as the most likely “fastest horse” among Bitcoin treasury firms heading into the next bull market. He outlined his strategy in a series of seven principles on competition, shared via the social media platform X.
Cole’s overarching argument, however, extends beyond direct competition. He contends that Strive and MicroStrategy, another prominent Bitcoin treasury firm, are mutually beneficial in expanding the market for Bitcoin-backed digital credit, rather than merely vying for the same investor base.
“I think Strive has emerged as the leading contender to be the fastest horse in the next bull market,” Cole stated in an interview with podcaster Robin Seyr. He elaborated that achieving the highest total returns will depend on three key factors: maintaining a high amplification ratio, sustaining that ratio over time, and crucially, not sacrificing potential Bitcoin upside for amplification.
Amplification, in this context, measures a company’s preferred stock and debt relative to its Bitcoin holdings. Strive’s internal tracker indicates an amplification ratio of 51.4%, derived solely from SATA preferred shares and with no outstanding debt. In contrast, MicroStrategy’s ratio stands at approximately 25%, placing Strive’s firm at roughly double the amplification of Michael Saylor’s company.
Cole presented a bullish outlook for Bitcoin, forecasting a potential surge to between $400,000 and $500,000 by late 2029. He linked this projection to a potential U.S. debt crisis that could drive down long-term yields and weaken the dollar, a scenario he described as conservative.
The Strive chief also sought to de-escalate any perceived rivalry with MicroStrategy, referencing a detailed article by MicroStrategy’s co-founder that envisioned the two firms collaborating.
Cole pointed out that SATA’s daily trading volume is between 25% and 50% of MicroStrategy’s STRC. While some MicroStrategy investors interpret this as lost market share for Strive, Cole dismissed this as a “really bad argument.” He reasoned that even if MicroStrategy had captured all of SATA’s approximately $1 billion in market capitalization, STRC would only have grown by about 10%. According to Cole, the more critical metric is the potential for exponential growth in the digital credit market over the next three and a half years.
He further noted that institutional investors face issuer limitations, necessitating multiple issuers for large buyers. Cole also claimed that both firms have adopted strategies from each other, citing MicroStrategy’s move to daily dividends and its cash reserve policies.
“I’m glad that they innovate based on what we do and we innovate based on what they do,” he told Seyr.
On X, Cole emphasized that management teams have a primary duty to their shareholders and that “competing and collaborating are not mutually exclusive.”
As previously reported by CryptoPotato, Strive acquired 2,000 BTC for $169 million on October 5. On the same day, MicroStrategy announced a purchase of 334 BTC for $28.7 million. These acquisitions bring Strive’s total holdings to 29,462 BTC and MicroStrategy’s to 848,000 BTC.
At the time of writing, ASST was trading near $30, marking a roughly 137% increase over the past three months, though down approximately 42% over the past year. Meanwhile, SATA is offering a daily dividend of 13%, compared to the 12% dividend on MicroStrategy’s STRC.
