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![Swan Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::20445899.png) Swan [@Swan](/creator/twitter/Swan) on x 69.3K followers
Created: 2025-07-17 15:50:21 UTC

But the structure itself is the real story.

BSTR combines:
• Fiat PIPE
• Convertible notes
• Convertible preferreds
• Bitcoin in-kind PIPE from the community

This hybrid funding model bridges Wall Street capital with Bitcoin-native investors on day one.


XXXXX engagements

![Engagements Line Chart](https://lunarcrush.com/gi/w:600/p:tweet::1945873719177748714/c:line.svg)

**Related Topics**
[wall street](/topic/wall-street)
[hybrid](/topic/hybrid)
[fiat](/topic/fiat)
[bitcoin](/topic/bitcoin)
[coins layer 1](/topic/coins-layer-1)
[coins bitcoin ecosystem](/topic/coins-bitcoin-ecosystem)
[coins pow](/topic/coins-pow)

[Post Link](https://x.com/Swan/status/1945873719177748714)