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Bitcoin treasury firm Strive buys Strategy instead of bitcoin

Nasdaq-listed BTC treasury company Strive has announced a $50M cash purchase of fellow BTC treasury company Strategy’s STRC.

Strategy is paying credit card rates to keep STRC at $100

Strategy founder Michael Saylor has increased the dividend rate on STRC so high that it’s now roughly 60% of a typical credit card rate.

When BTC was above $84K, Strategy founder Michael Saylor said, “sell a kidney if you must, but keep the BTC.” Yesterday, BTC hit $63K.

Strategy might be able to survive until BTC hits $8,000, but common shareholders will lose hope in treasury coverage in the $20,000s.

Michael Saylor is using AI slop to liken Strategy’s STRC dividends to the interest payments of regulated money market funds.