Are Stratey (MSTR) and Strive (ASST) in a yield war with STRC and SATA?

Añadido: 2026-05-25

[00:00:00]I think the way that a retail investor is defined exogenous to the Bitcoin industry is a bit different than the way that we define them internally. But I think that the sort of emotions are pretty much the same. So what I what I mean there is Bitcoin investors generally as retail investors have more money than the [music] average investor simply because they invested oftentimes in a concentrated way into an asset class [music] that's performed really really well. However, they still have sort of the animous spirits of I can panic quickly and try and exit this position rapidly that a traditional retail investor [music] m you know has.

[00:00:32]So just because you've made a lot of money via a good concentrated bet doesn't mean that you've suddenly become a much more sophisticated investor. So I do think that that's a bit of a concern [music] for stretch. However, um I think that the biggest thing going on there is stretch going from semionthly or going into like semionthly yield and [music] it is going to I believe become a bit of a frequency war and I think that they may actually lose it because SATA is is going daily and it's not about the 1.5% spread so much. It's that a daily dividend turns Bitcoin from an asset that you hold into like true income that you can see hitting your bank account every day. And there's a real psychological principle [music] from Richard Thaylor uh called uh the segregation effect. It's tens of gains of $100 feels better than one gain of $1,000. So I think [music] when that psychology starts to sort of embed itself in investors who are seeing these daily [music] gains, they're going to start to say, "Hey, maybe I want to start moving over, you know, from from stretch to SATA." So I think that this is also a pretty big