Set a Bitcoin price below. Everything under it is computed at
your price against Strive's filed capital structure. This is a measurement of
what the structure does at a price you choose, not a view on whether Bitcoin reaches it.
Loading the filed records.
Net senior claims, dollars
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Net senior claims, in BTC
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No claim in Strive's stack can be called because the Bitcoin price fell. No
active instrument carries a margin term, a collateral maintenance obligation, or a price-triggered
obligation to repay or accelerate. Debt has been zero since May 2026, the one
Bitcoin-collateralized facility was retired in January 2026 with the collateral returned to company
custody, and the SATA preferred is perpetual, with no maturity and no put.
SATA's preference cannot be ratcheted up by a falling price, but its cost can
rise. The liquidation preference is market-linked with a stated floor of $100, so a
decline leaves it at the floor. What moves instead is the dividend rate, which steps up while the
preferred sits below par, capped at 20 percent. That raises the carrying cost of the claim without
creating any obligation to repay or to post collateral.
The STRC position is a held asset, and the slider does not re-price it. Strive
holds Strategy's STRC preferred, and the claims arithmetic nets it against senior claims at its
recorded fair value. That value is carried in dollars from the snapshot and is not moved by the
price you set, so the netting above holds it at the recorded amount rather than shocking it with
the reserve.
Live Bitcoin price --, read -- via
CoinGecko.
Capital structure as of --. Source: --.
Claims arithmetic is the shared reader in config/compute-drag.js, the same one
the tracker and the company page use. Senior Claims % floors at zero and is capped at the
whole reserve.
Scenario layer. The slider is your assumption. Every figure above it is
labelled as computed at your price. Nothing here forecasts a price.