Jeff Walton, chief risk officer (CRO) of bitcoin treasury company Strive, said that a “gold rush” to secure bitcoin is underway.
In an interview with Bitcoin Magazine, Walton said Strive had recently raised approximately $700 million through the issuance of SATS perpetual preferred stock, exceeding its initial target of $500 million.
He said new sources of capital are flowing into the bitcoin market, with bitcoin treasury companies, spot ETFs and credit-market investors competing for limited bitcoin supply.
Walton said that if bitcoin-backed preferred stock expands into traditional credit markets, it could attract new institutional capital, forecasting that “the next $1 trillion of capital will come from here.”