Digital Credit - Weekly Close (Aug. 28)
Follow-through week: the commons extended the rally, the credit stack stayed bid, and the shorts headed for the exits.
@Strategy went on offense...
• $MSTR +6.8% w/w to $127.31, Net mNAV back above water at 1.06. Raised ~$2.0B this week: USD reserve now $6.7B, or 3.9 years of obligations in cash.
• $STRC ended at $97.33 (+1.2% w/w), its third straight best weekly close, 12.3% effective yield.
The
@Strive re-rate continued...
• $ASST +19.3% w/w to $21.74, Net mNAV stretched to 1.86x vs 1.56x a month ago. The squeeze resolved: shorts covered from ~30% to ~24% of float and days to cover fell from 5.5 days to 2.0 days.
• $SATA $99.75 (-0.3% w/w), 13.0% effective yield. The SATA ATM funded 1,110 BTC this week (+5.5% BTC yield in one week) and the shorts that remain are paying 35.2%/yr.
Where digital credit closed, updated daily: