pull down to refresh
I've been pleased that they haven't jumped on the treasury company band-wagon (although, I haven't paid enough attention to them in the last year to know how true that statement is). But this is an interesting take as to why.
In my ignorance, I will ask: what incentive does Tether have to value Strike highly? Why wouldn't it make more sense for them to devalue Strike shareholders?
Because Strike has done a lot of the hard work with little marketing.
They unlocked bitcoin backed lending and established money transmitter licenses all over the USA! Tether can now use this exchange to access the US market and the world market as well as strike is global.
They can launch their tetherUSD on Strike and build easy synergies with their other products like Rumble and the wallet they just released.
Yup I wrote about this in my weekly stock purchase update.
As an early Strike investor I am wondering what is going to happen with my SAFE shares. Probably end up getting XXI shares.
Also I have a theory as to why Matt and Marty have been much warmer towards Tether these last few years. Ten31 their VC is the largest investor in Strike and now they get rolled up into XXI. I know they are benefiting massively in this deal.
The way they shade STRC makes no sense to me. They go as far as telling listeners to take out a bitcoin backed loan on Strike instead of using STRC to get 11.5% yield.