Strive (ASST) Chief Risk Officer Jeff Walton laid out the bull case for what he called “Digital Credit,” arguing that a single shift in how rating agencies value Bitcoin (BTC) could catapult Strategy (MSTR) from junk status to investment grade. In his remarks, Walton targeted the gap between how credit agencies score Bitcoin treasury companies and the capital they could unlock. Bitcoin Valued at Zero on the Balance Sheet The dominant US credit rating framework, led by S&P Global, assigns BTC a value of exactly zero on corporate balance sheets. Every dollar of dividend and debt-service capacity must be justified as if the holdings do not exist