The Pomp Podcast · Nov 12, 2026 · 28m · 23m saved
With Matt Cole, CEO of Strive
Matt Cole, CEO of Strive, told Anthony Pompliano on The Pomp Podcast that Strive's perpetual preferred stock is a financing structure built to profit from a thesis most investors haven't priced in: that fiat currency will keep debasing against Bitcoin, forever. Most companies that issue preferred stock are managing a balance sheet; Strive built two of them specifically to underwrite that bet.
"They will never stop debasing the US dollar. And so we are perpetually short the US dollar." — Matt Cole
Matt runs Strive's roughly 7,600-advisor distribution network and its Bitcoin treasury, which is now large enough that the firm's original asset-management business is about 1% of its value.
The full interview is covered here so you can skip it. 28 minutes of audio, 5 minutes of reading.
Here are the 5 numbers that matter.
Key Takeaways
Strive's two preferred stocks pay 13% and 15% forever, funded by betting the dollar keeps debasing against Bitcoin
Even at Bitcoin's roughly 7–8% debasement-rate pace, Strive could still pay those dividends indefinitely
Strive holds 85–90% Bitcoin and 10–15% cash so it can survive an 80% Bitcoin drawdown without selling
With Bitcoin at "a penny," Matt says the company has 18 months of cash on hand
Matt argues digital credit is priced like junk debt despite behaving like investment-grade risk once Bitcoin's volatility is properly underwritten
About 7,600 independent financial advisors give Strive a distribution channel bigger than its original asset-management business
Buying Strive's common stock gives more leverage to Bitcoin than the ETF, because the company carries no debt and has no liquidation point
1. Perpetually Short The Dollar
Strive's preferred stock is built around a single bet, and Matt said it doesn't need Bitcoin to do much to pay off.
Strive sells preferred stock to fund a permanent bet against the dollar
"They will never stop debasing the US dollar. And so we are perpetually short the US dollar because we are selling a perpetual preferred equity which will pay a dividend forever." — Matt Cole
Even at the pace of currency debasement alone, Strive could pay its dividends forever
"Even if Bitcoin only went up around the rate of currency debasement, around 7-8% per year, we could pay a dividend forever into the future... all of the returns of Bitcoin would go to the preferred equity." — Matt Cole
Strive runs two of these preferreds, paying 13% and 15% respectively. Common equity holders only see upside once Bitcoin's return clears those yields.
