Bitcoin-related income-type securities have recently received more attention. The CEO of Srive Matt Cole stated that products such as STRC, launched by SATA and Strategy, could facilitate the formation of a digital credit market of $3 trillion to attract investors who wish to obtain bitcoin openings while pursuing fixed returns.
Aim for bitcoin revenue demand.
In an interview, Cole indicated that the spot bitcoin ETF would continue to expand, but that there were still large gaps in products linked to bitcoin that could provide revenue. He mentioned that the global credit market was close to $30 trillion, and that the potential market space would be considerable if bitcoin-supported credit instruments were more widely accepted.
This statement also echoes the recent statements of Executive Chairman Strategy Michael Saylor. Saylor wrote on platform X on 24 June that digital credit can provide a source of income for investors who value bitcoin, thereby emphasizing the profitability of the company ' s preferred share product.
SATA has been used to raise bitcoin
Strive recently bought 759 BTCs through SATA financing. The product is a permanent priority of the variable interest rate A series and currently provides 13% of the daily, annualized bitcoin-related dividends. The company wishes to finance the Bitcoin reserve strategy while providing returns to investors.
Cole expects that as demand increases, digital credit products like SATA and STRC may appear in more markets in the future. For issuers, these preferred shares are becoming new bitcoin financing instruments; for investors, they are a trade-off between traditional revenue products and encrypted asset exposures.
Depreciation of financing efficiency
However, market transactions have shown the pressure of such patterns. SATA submitted $96.15 in advance of Wednesday, after a previous transaction date of $9450, a drop of 2.9 per cent. STRC received 87.31 United States dollars on Tuesday, down by 1.67 per cent, which, although up from the recent low of 82.53 United States dollars, is still significantly below the nominal value of $100.
StRC pricing has a significant impact on Strategy's currency purchase mechanism. If the priority share is more than $100, the company can raise funds by issuing more shares at market value and then use the proceeds to buy bitcoin; once it is long below the face value, the efficiency of this source of financing will decline.
On 22 June, the President and Chief Executive Officer of Strategy, Phong Le, disclosed that he had purchased a $1 million STRC and had indicated that he would hold it until he returned to the vicinity of $100, which could also be continued thereafter.
The pressure on the cash reserves is being addressed.
In addition to the price discounts, outside institutions have also begun to pay attention to the impact of such structures on the balance sheet. CryptoQuant warned on 24 June that as the priority stock structure was under pressure, Strategy might consider suspending the purchase of bitcoin and prioritizing the reconstruction of the cash reserve.
The agency estimated that, in order to restore the 24-month cash coverage level, Strategy would require approximately $2.8 billion in reserves, about twice the company ' s latest cash level. This means that the speed of expansion of the Bitcoin financing instruments may be limited if the relevant priority shares continue to be lower than the face-to-face transactions.