Strive CEO Matt Cole says Bitcoin (BTC) could effectively go to infinity against the US dollar, arguing that a mounting Washington debt crisis, not Bitcoin’s own scarcity, is what will ultimately break the currency’s value.

Cole made the comments on Bloomberg Crypto, as digital assets have reclaimed $3 trillion in market value since January. Strive, a Bitcoin treasury company that raises capital to buy and hold BTC on its balance sheet, has been one of the more aggressive buyers through the cycle.

A Debt Crisis, Not a Bitcoin Story

Cole argued that the 10-year Treasury yield would already sit north of 10% if the Federal Reserve and the Treasury Department stepped back from the bond market entirely.

He credits Treasury Secretary Scott Bessent with capping long-end rates for now, but says that intervention only delays a reckoning, since neither party in Washington shows any willingness to cut spending.

“We think Bitcoin can effectively go to infinity versus the dollar.”

— Matt Cole, on Bloomberg

That logic underpins Strive’s public forecast of a 50% compound annual growth rate for Bitcoin through 2030, a figure Cole calls conservative given the asset’s past bull-market cycles, a view he first laid out when he called the bear market over last month.

It also explains why Strive’s SATA preferred stock, which pays a daily cash dividend, has, according to Cole, outperformed Bitcoin itself by more than 100% in 2026 even as BTC has traded roughly flat.

Why the Treasury Model Persists

Cole also pushed back on the idea that the Bitcoin treasury company model is fading. He argues it never broke, only that firms without a clear thesis or sound debt terms struggled once the bear market hit, while disciplined buyers kept accumulating even as Wall Street treasuries resumed buying.

Cole’s framing puts Bitcoin’s price action second to a wager on US fiscal dysfunction, one that only pays off if bond markets and the dollar move the way he expects over the next several years.