Why Most Bitcoin Treasury Companies Are Struggling — and the One That’s Getting It Right

November 26, 2025

Matt Cole, Chairman and CEO of Strive Bitcoin Treasury Company joins us to talk about corporate Bitcoin treasury strategies, why he’s structurally bullish on 30%+ annual returns, how Strive amplifies Bitcoin exposure through preferred equity without margin requirements, the pivot from ESG pushback to Bitcoin maximalism, and why removing capital gains taxes could make Bitcoin actual money in America.

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**Notes:**

• Bitcoin expected 30%+ annual returns over 10-15 years

• Strive manages $2B AUM across 13 ETFs

• Matt’s net worth in Bitcoin since 2016-2017

• 50% drawdowns expected as normal volatility

• Preferred equity structure allows riding to $1

• Strategic Bitcoin reserve strengthens USA

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