Bringing to you the best clips of @HurdleRatePod
Joined October 2025
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Below 15% in early September. About 17.8% by November 3.
@ColeMacro tracks the all-in yield on triple-C debt and explains why the recent rise matters.
"So it is real credit stress."
Adam Livingston explains why the S&P 500 trading at a CAPE ratio of 43, more than DOUBLE its historical average, could push investors toward Digital Credit…
“I think that we’re in a window where this could be appealing to a wide variety of investors.” - @AdamBLiv
Nobody knows when $BTC will move. Strive $ASST wants to be in position when it does.
@Werkman says Strive is now around 61% amplification, inside the 60-70% target zone, and explains the urgency behind getting there.
“You have to work with the urgency that one of those 10 days is going to be tomorrow.”
Ben Werkman gives his honest prediction that AI labs could be the ones that push the world to ONE global money…
“There’s really one truly decentralized monetary network out there that’s permissionless and available 24/7, 365 with scale and liquidity.” - @Werkman
Preferred holders want stability. Common shareholders still need a reason to own the equity.
@Werkman says Strive got credit investors comfortable with a 60-70% amplification target while preserving the value proposition of the common stock.
“There’s a balance that needs to be struck.”
$ASST $SATA $SATS
Bitcoin’s next cycle could have a different set of buyers.
@PunterJeff puts the emerging Bitcoin credit market at roughly $15B and thinks its growth could reshape future market cycles and drawdowns.
“That credit will fundamentally change the cycle theory because there’s different buyers at different periods of time.”
Amplified Bitcoin returns require amplified Bitcoin risk.
@ColeMacro wants Strive $ASST to model what could go wrong, then take the risk its bull thesis calls for.
“If you have a structural failure in your thesis and you don’t even get materially harmed, you didn’t take enough risk actually.”
Financing $BTC could create yield for somebody else.
@PunterJeff says the borrower’s payments could become cash flow sold to private credit investors.
“They can monetize that cash flow and sell that cash flow to private credit.”
Online poker players got a lifetime of experience in just a few years.
@ColeMacro sees the same advantage in $BTC. Repeated bull runs, bear markets, leverage blowups, and mistakes compress decades of market lessons into a much shorter period.
“The Bitcoin market cycles are like dog years versus traditional capital markets.”
A $14B balance sheet would change the conversation.
@PunterJeff says if $BTC reaches $500K, Strive’s $ASST existing holdings alone would put its balance sheet around $14B.
“What opportunities are afforded to us with a $14 billion balance sheet that are not afforded to us with about a $3 billion balance sheet?”
Strive $ASST posted a 99% total return over nine months while Bitcoin fell about 5%.
@ColeMacro says the real objective is longer term: outperform $BTC over three years, the same horizon used in the team’s incentives.
“You kind of have to zoom out.”
Strive $ASST is targeting more than 60% amplification while Bitcoin is below $100K.
@ColeMacro wants to maximize Bitcoin exposure for common shareholders while he considers $BTC cheap.
“60% was not a cap... and it’s also not a guarantee.”
The stress test goes below Bitcoin’s 200-week moving average.
@PunterJeff models scenarios 10%, 20%, and 30% below it.
@Werkman adds the other side of the cycle: knowing when to reduce amplification near the peaks.
The goal is keeping the balance sheet within its risk limits through both.
$SATA was designed to give dividend traders a reason to show up every business day.
@ColeMacro explains why each daily dividend within a month is equal. He expects that consistency to attract more algorithmic trading throughout the week.
Strategy $MSTR is taking a different approach with its proposed calendar-day structure.
The market gets to test both.
Bitcoin yield can come at the expense of upside.
@Werkman explains why Strive $ASST is cautious with derivatives: covered calls can cap gains that would otherwise flow to common shareholders, while cash-secured puts can consume cash during a falling market.
He wants opportunities that preserve the $BTC upside shareholders came for.