Using a Bitcoin-backed cash buffer to manage credit quality and ensure dividend coverage during market drawdowns.

Mentioned as successfully creating products (like 'SATA') to move capital from traditional markets into Bitcoin, reinforcing a powerful 'capital funnel' investment thesis.

The company trades at a rich valuation (MNAV of ~2.8) and faces significant execution risk with its large acquisition of SMLR. The investment thesis is a bet that its high valuation will not collapse post-merger.

Acquired Semler Scientific at a 210% premium, which caused its stock to fall.