# How Digital Credit Assets like STRC and SATA Differ from Bitcoin or DAT Stocks

Page: https://stenobird.com/podcast/unchained-728975/how-digital-credit-assets-like-strc-and-sata-differ-from-bitcoin-or-dat-stocks
Text version: https://stenobird.com/podcast/unchained-728975/how-digital-credit-assets-like-strc-and-sata-differ-from-bitcoin-or-dat-stocks.md
Podcast: [Unchained](https://stenobird.com/podcast/unchained-728975)
Published: 2026-06-23T18:22:00+00:00
Episode link: https://pdrl.fm/98e0b1/traffic.megaphone.fm/LSHML8519055195.mp3
Audio file: https://pdrl.fm/98e0b1/traffic.megaphone.fm/LSHML8519055195.mp3
Processing state: not_requested
JSON: https://stenobird.com/v1/public/podcasts/unchained-728975/episodes/how-digital-credit-assets-like-strc-and-sata-differ-from-bitcoin-or-dat-stocks
Duration seconds: 3377

## Resource

Was Michael Saylor wrong to sell Bitcoin? Matt Cole breaks from his fellow critics on Strategy, S&P's junk rating on MSTR, and whether the model is breaking. ======================================================== Thank you to our sponsor! ⁠⁠⁠⁠Fidelity⁠⁠⁠⁠: Fidelity has been building in crypto and DeFi since 2014 — now they're hiring. Explore career opportunities at one of the most forward-thinking names in finance here: ⁠⁠⁠⁠crypto.fidelitycareers.com⁠⁠⁠⁠. ⁠⁠⁠⁠Cape⁠⁠⁠⁠: Your biggest crypto vulnerability isn't your wallet, it's your phone number. Cape is America's privacy-first mobile carrier that rotates your SIM identity daily and blocks SIM swaps before they happen. Get 33% off your first six months at cape.co/unchained (use code: UNCHAINED). ======================================================== Strive's Matt Cole had just lived through what he called the most difficult day in the history of digital credit when he sat down to defend it. STRC had touched $82.50, SATA had slipped into the low nineties, and the Bitcoin treasury trade was suddenly the most argued-over corner of crypto. Cole came from a pension background and built Strive into one of the largest Bitcoin treasury companies around a single conviction: that structured credit can solve an income problem fiat can't. The critics, he argues, can't even agree with each other on what is actually wrong. Was last week a leverage liquidation or a crack in the model? Did Michael Saylor quietly change his story? And is wrapping Bitcoin in preferred stock a betrayal of its ethos or the bridge most people actually need? Laura Shin pressed on all of it. Host: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Laura Shin⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠, Host / Unchained Guests: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Matt Cole - Chairman and CEO of Strive Timestamps 🎙️ 02:07 Wha…

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