LATEST
Articles
The Smarter Web Company’s Move to the London Stock Exchange Main Market:
A UK Tech Business, a Bitcoin Treasury Vision, and the Next Phase of Institutional Legitimacy The approval and publication of the prospectus for The Smarter Web Company PLC marks a defining moment in the firm’s corporate journey. What began as a UK-born web design and digital marketing business is
Articles
Strive’s SATA Follow-On: From a Proposed $150M Offering to a $118M Capital Raise
A balance-sheet case study in Bitcoin-native capital structuring When Strive, Inc. released two back-to-back announcements on January 21 and January 22, 2026, many investors were left asking a simple question: Did Strive raise $150 million or $118 million? The correct answer critically is $118 million in cash, with the remainder
Articles
Strive–Semler Merger Approved: A Defining Moment for Bitcoin-Native Corporate Finance
The shareholder approval of Strive, Inc.’s acquisition of Semler Scientific marks a watershed moment in the evolution of Bitcoin-native corporate finance. With this transaction, Strive, Inc. is not merely growing its balance sheet it is institutionalizing a new playbook for how Bitcoin treasury companies can scale, deleverage, and amplify
Articles
Digital Money: The Final Layer of the Bitcoin Financial Stack
Introduction: Why the World Still Lacks “Good Money” For over a decade, Bitcoin has proven itself as digital capital, a scarce, global, censorship-resistant store of value. It has absorbed volatility, rewarded long-term holders, and increasingly sits on corporate and institutional balance sheets. Yet despite Bitcoin’s success, one core problem
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
Articles
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
Articles
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
Articles
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
Articles
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
Articles
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