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Annual Wrap Up BTCTC 2025
Strategy Inc. 2025 Annual Review: Executive Summary In 2025, Strategy Inc. (NASDAQ: MSTR) (formerly MicroStrategy) completed its evolution from a software firm with a Bitcoin balance sheet into the world's first purpose-built Bitcoin Treasury Company. The fiscal year was defined by the aggressive operationalization of the company’s
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Roxom Letter to MSCI
To: Henry A. Fernandez Chairman and Chief Executive Officer MSCI Inc. Re: Comments on Proposed Exclusion of Bitcoin Treasury Companies from MSCI Indices Dear Mr. Fernandez, Roxom appreciates the opportunity to comment on MSCI’s proposed exclusion of companies whose digital asset holdings exceed 50% of total assets from the
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Introducing the world's first Bitcoin Stock Exchange.
What Bitcoin has done for money, Roxom is doing for capital markets. We're thrilled to unveil Roxom’s Bitcoin Treasury Stock Exchange today, now available through whitelisted early access as the world's first regulated Bitcoin Stock* Exchange and Capital Market. This platform empowers investors around the
MSCI Targets Strategy: Bitcoin Treasury Model Faces Index Exclusion
Wall Street’s benchmark machinery is undergoing a rare ideological stress test and Bitcoin is at its core.On October 10, global index provider MSCI launched a consultation proposing to remove companies whose primary business is digital-asset treasury activity and whose crypto holdings exceed 50% of their total assets. The
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Financing Strategies for BTCTCs Under Sub-NAV Valuation Conditions
Executive Summary Bitcoin Treasury Companies (BTCTCs) operate with a financial objective distinct from traditional corporations long-term maximisation of Bitcoin per Share (BPS). Their balance sheets function primarily as Bitcoin reserve portfolios, and the integrity of these reserves determines their strategic position across market cycles. When BTCTC equity trades below monetary
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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