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Strive Executive: Global Capital Is Entering the Bitcoin Market Through Three Pathways Joe Burnett, VP of Bitcoin Strategy at Strive, stated that the concept of Bitcoin's breakeven annualized return rate (ARR) is often misunderstood, but it's crucial for understanding how global capital allocates to Bitcoin. He categorized the capital pathways into three types: - Bullish: Leveraging long-term funds at costs below 20% to increase positions. - Neutral (Digital Credit): Requires Bitcoin's annual growth to be just 3.3% to cover dividend costs, only needing belief that Bitcoin won't disappear and will outpace inflation. - Bearish: Expressing bearish views through shorting or inverse instruments. Burnett believes these three pathways correspond to three types of Bitcoin-linked instruments, representing how trillions of dollars in global capital are gradually flowing into the Bitcoin market.