I think USD Income powered by Bitcoin could be a market worth trillions and one of the biggest catalysts for Bitcoin in its history. The reason starts with how the world stores wealth today. Fiat money is broken. People use equities, real estate, and fixed income to preserve purchasing power and generate income. These assets carry monetary premiums because they serve as a place to save. Global asset value is estimated at $1,127 trillion. H/T @Croesus_BTC. Bitcoin competes for those savings because it is a better form of money. USD Income powered by Bitcoin extends that competition to individuals and institutions who want their wealth to generate USD Income. That's a much larger opportunity than the preferred equity market today. A lot of the thinking behind SATS starts here: the ultimate USD financial product may simply be a liquid, publicly traded product with a fixed dividend and a USD Income yield higher than the income yields in equities, real estate, and traditional fixed income. A perfectly stable USD-like product with an attractive yield would obviously be useful. But maintaining that price stability creates a rigid structure that can limit an issuer's flexibility. Our investor presentation highlighted the challenge. From their respective IPOs through October 9, STRC traded at or above $100 on just 16% of trading days. SATA did so on 24%. People already accept fluctuating prices in their houses, stocks, and bonds. A fixed dividend allows the share price to move while the USD Income stays the same, provided dividends are paid. An attractive, stable USD Income stream supported by a Bitcoin treasury gives those investors another option. A company may hold 10+ years of dividend coverage in Bitcoin, measured at the current Bitcoin price, alongside a cash reserve for near-term dividends. This connects demand for high-yield USD Income directly to demand for Bitcoin. As companies issue preferred equity and use the proceeds to acquire Bitcoin, USD Income investors bring new buying power directly into Bitcoin. Now, this doesn't mean traditional assets are going to crash. They can continue growing at their historical rates. My expectation is that Bitcoin and the market for USD Income powered by Bitcoin grow faster, capturing a larger share of an expanding pool of global wealth. The world keeps creating more wealth. USD Income powered by Bitcoin gives more of that capital a reason to flow into Bitcoin. The supply of USD will keep expanding indefinitely, but there will only ever be 21 million BTC. TLDR: You are not bullish enough on Bitcoin.