Bitcoin Reserve Income Vehicle
Charlie Madden@charliemadden
−3.5%
since Oct 3
The idea
I believe bitcoin becomes the world's reserve asset over the coming decades, so I built a vehicle to own that transition while getting paid to hold it. The core is spot bitcoin across three ETFs targeting 60%, paired with 40% in bitcoin-backed preferreds whose dividends fund buying more bitcoin. It's managed actively: when bitcoin rallies and drifts well past target, gains get trimmed into the preferreds; in drawdowns, preferred weight and dividends rotate back into bitcoin. No single name dominates, and the plan is to hold through full cycles rather than react to any one move.
What it owns
- Direct bitcoin exposure split across three major issuers to avoid concentration risk in any single fund. · Morgan Stanley Bitcoin TrustIt is a major bank's spot bitcoin trust and represents institutional adoption of bitcoin as a reserve asset., Fidelity Wise Origin Bitcoin FundIt tracks spot bitcoin through a major financial institution and forms one part of a three-fund diversification across custody providers., iShares Bitcoin TrustIt is the largest spot bitcoin fund and holds the position only if bitcoin continues toward reserve-asset status across decades.60%
- Fixed-income claims on large bitcoin treasuries that pay yields funding additional bitcoin purchases during market downturns. · Strategy Inc 10% Series A Perpetual Strife PreferredThis senior preferred share pays a yield sourced from Strategy's bitcoin treasury, aligning income with the underlying bitcoin collateral., Strategy Inc Variable Rate Series A Perpetual Stretch PreferredIt pays variable-rate monthly distributions that can be averaged back into bitcoin during bear markets., Strategy Inc 10% Series A Perpetual Stride PreferredIt pays near the top of the yield range because missed dividends do not accumulate, making it the richest income payer backed by bitcoin., Strive Inc Series A Perpetual PreferredIt is the only income-leg holding from outside the primary issuer, so treasury strength depends on a different company's balance sheet., Strategy Inc 8% Series A Perpetual Strike PreferredThis preferred share offers yield from Strategy's bitcoin treasury with a convertible feature providing upside exposure if Strategy's stock appreciates alongside bitcoin.40%