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Metaplanet’s Class B Preferred Shares: Japan’s First Institutional Bitcoin Preferred Equity
Metaplanet Inc. has entered a new chapter of corporate finance in Japan. With the launch of its Class B Preferred Share issuance raising ¥21.249 billion in long-dated, equity-classified capital the company has constructed one of the most sophisticated Bitcoin-backed funding instruments ever seen in Asia. Metaplanet’s Class B
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SATA: The Second Perpetual Preferred in Bitcoin Treasury Finance
Strive Asset Management — SATA Perpetual Preferred Equity I. Executive Summary The emergence of perpetual preferred equity within Bitcoin Treasury Companies (BTCTCs) marks a structural transition in digital-asset corporate finance. Following Strategy Inc.’s pioneering issuance earlier this year, Strive’s SATA (Variable Rate Series A Perpetual Preferred Stock) becomes the
Strategy Inc.: A 50% BTC-Denominated Drawdown Has Created the Strongest Buying Opportunity Since 2020
Strategy has lost ~50% in BTC terms since May — and this pullback is exactly the opportunity long-horizon investors wait for. The chart tells a simple but powerful story: MSTR has underperformed Bitcoin by nearly 50% in six months. For most companies, this would signal a deterioration in fundamentals. For Strategy
Engineering Trust with Fireblocks
We built Roxom architecture around one principle: trust engineered through security. It’s not an afterthought. It is the invisible structure that underpins and protects every transaction, every asset, and every user who connects to our ecosystem. Security isn’t a layer; it’s the foundation. That’s why our
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Financial Instruments of the Bitcoin Standard: How Bitcoin Treasury Companies Channel Global Capital into Sound Money
Bitcoin Treasury Companies (BTCTCs) are quietly rewriting corporate finance. While the mainstream financial world remains anchored to fiat debt and equity systems, these firms have begun to construct a parallel capital architecture one that channels global liquidity into Bitcoin, converts fiat liabilities into Bitcoin reserves, and measures success not by
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STRE: Strategy Inc. Launches Euro-Denominated Digital Credit for Investors In Europe
Introduction: A Bitcoin-Backed Euro Yield Play Strategy Inc.'s new euro-denominated perpetual preferred security, STRE (Stream), offers a unique solution. With a fixed 10% annual dividend and deep overcollateralization via Bitcoin (BTC), the Stream instrument is more than just another yield product it's the European debut of
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Strategy’s B- Rating Marks the Birth of Bitcoin Credit Markets
S&P’s First Rating of a Bitcoin Treasury Company Redefines Corporate Credit for the Post-Fiat Era Executive Summary S&P Global Ratings has assigned a B- / Stable issuer credit rating to Strategy Inc, the world’s largest Bitcoin Treasury Company (BTCTC).At first glance, the rating appears
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Metrics to Understand Bitcoin Treasury Companies
An Institutional Framework for Evaluating BTC Per Share Compounding Bitcoin Treasury Companies (BTCTCs) represent a financial architecture built on a fundamentally different mandate than traditional corporations. Conventional companies optimize for earnings per share in fiat currency. Bitcoin Treasury Companies optimize for a higher-order treasury objective: To increase Bitcoin per share
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GOLD-BTC Perpetual Futures | Trade Gold in Bitcoin on Roxom
A new standard for hard-money markets, where gold meets Bitcoin. Introduction For centuries, gold has defined monetary stability. It was the anchor behind the dollar, the measure of trust between nations, and the refuge when fiat lost credibility. But in the digital era, Bitcoin has inherited that role, borderless, programmable,
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Gold Is Melting: Hard Money's Migration to Bitcoin
Executive Summary The world's oldest store of value is quietly dissolving in real time. Gold, the anchor of wealth for more than five years, has lost almost 75% of its value against Bitcoin since 2021. This chart isn’t merely a trade signal; it’s a monetary migration
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Wall Street Needs a New Benchmark The S&P 500 Is Collapsing in Bitcoin Terms
For decades, the S&P 500 served as the unquestioned barometer of U.S. wealth. Pension funds, 401(k) allocators, sovereign wealth desks, and retail households alike treated it as a conservative, diversified claim on long-term prosperity. “Buy the index, hold for 30 years, and you’ll be fine”