Just saw that Strategy's STRC preferred series closed a $50M round from Strive, which is pretty interesting since Strive is also deep into the BTC treasury game. Two companies with similar plays in the Bitcoin reserve space backing each other up like that. Makes you wonder if we're seeing more of this cross-investment trend among firms betting on institutional Bitcoin adoption.

Strive putting that much capital into Strategy's preferred series suggests they're seeing something solid in the business model. Both are focused on the Bitcoin treasury space, so it's not like they're diversifying - they're basically doubling down on the same thesis. Either they really believe in each other's execution or there's some strategic synergy play happening behind the scenes.

Not sure if this is a sign of the market getting more serious about Bitcoin reserves or just smart money doing smart money things. Either way, $50M is a solid vote of confidence. Curious what this means for their competitive positioning though.