The Bitcoin Treasury Podcast

MSTR, SWC, Capital B are Capital Pumps - And The TradFi FLOOD Is Coming

SmarterWeb just became the first Bitcoin treasury company admitted to the FTSE All Share index — meaning Bitcoin is now quietly inside most UK pension portfolios. Andrew Webley and Jesse Myers of SmarterWeb join Alexandre Laizet of Capital B for the Bitcoin Treasuries Roundtable.
Jesse lays out the capital pump thesis — how Bitcoin treasury companies are the plumbing of hyperbitcoinization, systematically pulling capital out of bonds, equities and money markets and channeling it into Bitcoin. Andrew explains why Morgan Stanley can't afford to ignore this anymore. And Alexandre makes the case that we are one bull market away from escape velocity.
Follow Andrew: https://twitter.com/@asjwebley Follow Jesse: https://twitter.com/@Croesus_BTC Follow Alexandre: https://twitter.com/@AlexandreLaizet
🔒 Secure your Bitcoin with COLDCARD — use code 6BT for 6% off at store.coinkite.com 🏦 Borrow against your BTC from 8.49% at archlending.com 🏛️ Institutional custody & OTC at bitgo.com
📊 Track every Bitcoin treasury company at bitcointreasuries.net
⚠️ Not financial advice. Do your own research.
🟠 Stay Orange.

Every Bitcoin Treasury Company At Scale Should Be Generating Yield — Here's Why

Adrian Morris of MSTR True North joins Tyler Rowe to make a data-backed case that most of the Bitcoin community is getting wrong.
After modeling MSTR price action across every interval imaginable, Adrian concludes that Saylor's share issuance isn't hurting the stock, mNAV is pure sentiment that cannot be front-run, and MSTR's options volume now rivals the biggest names in tech. He also breaks down the USD cash reserve debate, why the convertible bonds were a necessary stepping stone to preferred equity, and why the current bear market is a narrative competition against AI and gold — not a Bitcoin failure.
Follow Adrian: https://x.com/@_Adrian True North live every Wednesday at 10PM ET.
🏛️BitGo is the institutional-grade digital asset infrastructure trusted by thousands of institutions worldwide. A publicly traded company on the NYSE, BitGo offers regulated custody, OTC trading, financing, and settlement under one roof — and holds a federally chartered national bank license from the OCC. Learn more at https://bitgo.com
🔒COLDCARD is the industry-leading Bitcoin hardware wallet. Secure your Bitcoin at https://store.coinkite.com — use referral code 6BT to get 6% off at checkout!
💵Arch Lending offers the most transparent Bitcoin-backed borrowing experience in crypto — industry-leading rates from 8.49%, qualified custody, no rehypothecation, and verifiable segregated addresses. Simple terms and public pricing at every size. Learn more at https://archlending.com
📊 Track every Bitcoin treasury company at bitcointreasuries.net
⚠️ Not financial advice. Do your own research.
🟠 Stay Orange.

Saylor Is Borrowing Bananas And Giving Back The Skin (STRC Masterclass w/ Yves Choueifaty)

Yves Choueifaty, founder of TOBAM and the man who launched the world's first open-ended Bitcoin fund in 2017, joins Alexandre Laizet of Capital B for the Bitcoin Treasuries Roundtable — and immediately reframes the entire conversation.We are not in a bear market. This drawdown is less than one volatility deviation. The Bank of England did exactly what Saylor is doing, in 1694. Hal Finney predicted Bitcoin reserve banks in 2010. And STRC may be the most important savings product ever created for the billions of people without access to reliable savings.They also break down Capital B's innovative €3M warrant raise with zero share issuance, why mNAV below 1.0 is a gift, and why 100 million millionaires fighting over 21 million Bitcoin is not a question of if — only when.Follow Yves: ⁠https://twitter.com/@YChoueifaty⁠ | TOBAM: ⁠https://www.tobam.fr⁠Follow Alexandre: ⁠https://twitter.com/@AlexandreLaizet⁠Follow Tyler: https://twitter.com/@TylerCompiler🔒 Secure your Bitcoin with COLDCARD — use code 6BT for 6% off at store.coinkite.com📊 Track every Bitcoin treasury company at bitcointreasuries.net⚠️ Not financial advice. Do your own research.
🟠 Stay Orange.
 

Why 95% of TradFi Still Doesn't Get Bitcoin Treasuries (Peter Duan On What Changes That)

Peter Duan (@BTCBULLRIDER), former Cantor Fitzgerald structured finance pro and founder of Bull Standard, joins Tyler Rowe to break down what most investors are getting wrong about Bitcoin treasury companies.
They cover why most mNAV calculations are misleading for common shareholders, how STRC trading at par through a bear market is its own best marketing tool, what MetaPlanet is doing with cash-secured puts that nobody else is replicating, and why AI, robotics, and the long-term debt cycle are the three storms Bitcoin is built to outlast.
Peter also introduces the CEBE ratio — a superior metric to Bitcoin per share — and makes the case that transparency and rigorous IR communication are the single biggest unlock for institutional Bitcoin treasury adoption.CHAPTERS:00:00 Cold Open01:05 Bull Standard: BTCTC Investor Relations02:46 Learning From Michael Saylor's Communication Strategy08:42 Navigating Market Challenges and FUD10:51 The Role of Transparency & Community in Bitcoin Treasuries12:29 Bear Market Accumulation & ATM Dilution14:51 STRC's Innovation: Strategy's iPhone Moment17:45 STRC Seasoning & Penetrating TradFi23:55 Yield Opportunities in Bitcoin Treasuries26:42 Peter's Personal Journey into Bitcoin and Treasury Companies29:56 Openness & Intellectual Rigor In Bitcoin35:06 The Future Of Bitcoin Treasury Companies39:43 Upgrading Bitcoin Treasury Financial Metrics43:29 Stay Orange
Follow Peter: https://twitter.com/@BTCBULLRIDER | Bull Standard: https://www.bullstandard.com
🔒 Secure your Bitcoin with COLDCARD — use code 6BT for 6% off at store.coinkite.com
📊 Track every Bitcoin treasury company at bitcointreasuries.net
⚠️ Not financial advice. Do your own research. 🟠 Stay Orange.

The STRC Flywheel Is Working (How Saylor BROKE Private Credit)

Yves Andre Graf of the One Chair Pod joins Tyler Rowe to break down a historic week in Bitcoin treasury: Strive's $50M STRC purchase, Strategy's 18,000 BTC acquisition funded 30% by STRC, and the digital credit flywheel that's quietly changing how institutions accumulate Bitcoin.
They also cover the 20 millionth Bitcoin mined, the new IRS crypto mapping guidance, Bitcoin's role as a risk-off asset in a geopolitically unstable world, and why altcoin treasuries selling Bitcoin may be suppressing price more than anyone's talking about.
Follow Yves: @GrafYves | One Chair Pod: @OneChairPod
🔒 Secure your Bitcoin with COLDCARD — use code 6BT for 6% off at store.coinkite.com
Track every Bitcoin treasury company at bitcointreasuries.net
⚠️ Not financial advice. Do your own research.

How IBIT Took Over Bitcoin Options & Derivatives w/ Trader Gordon Grant

Bitwise's Gordon Grant details how IBIT quietly became the dominant Bitcoin options venue. When Bitcoin hit $126K with implied volatility falling, Gordon knew exactly what was coming. He breaks down the full anatomy of October 10 and what it means for Bitcoin treasury strategy going forward.
Gordon Grant is Portfolio Manager and Head of Derivatives at Bitwise. He has been active in digital assets since 2013, built regulated derivatives trading at Genesis, and now runs institutional options strategies for accredited Bitcoin treasury clients.
In this episode:
How IBIT overtook Deribit in open interest and volume to become the primary Bitcoin options venue
What Coinbase's acquisition of Deribit means for the future of institutional crypto derivatives
Why the in-kind BTC-to-ETF creation mechanism is one of the most underappreciated unlocks in the market
The secular compression of Bitcoin implied volatility from ~80% in 2021 toward a projected ~30%
Why Bitcoin hitting $126K with vol flat or declining was the real warning sign before October 10
The cross-asset contagion story: silver's historic single-day candle, 500% IV in Iris Energy, and the APAC forced unwind theoryCHAPTERS:00:00 Cold Open01:18 Gordon Grant, Legendary Trader & Portfolio Manager02:25 The Evolution of Crypto Options Trading08:11 The In-Kind Creation Unlock10:54 Market Maturity and Bitcoin Volatility Dynamics19:01 Catalysts Behind October 10 Leverage Wipeout22:23 Market Inflection Points, Contagion & Body Bags28:04 The Role of On-Chain Analytics in Trading28:27 On-Chain Analysis As A Bayesian Prior35:20 Risk Management and De-risking in Bitcoin Trading43:36 Bitwise & Institutional Strategies46:12 Stay Orange
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🔗 Resources:
🔔 Follow Bitcoin Treasuries: https://twitter.com/@btctreasuries 🔔 Follow Tyler: https://twitter.com/@TylerCompiler 🔔 Subscribe: https://youtube.com/@bitcointreasuriesnet
📧 Questions/Feedback: Interviews: hello@bitcointreasuries.net
🎬 About the Show: The BitcoinTreasuries.net Podcast features in-depth interviews with executives, analysts, and investors at the frontier of corporate Bitcoin adoption. Hosted by Tyler Rowe, we go deep on treasury strategy, capital markets, and the future of Bitcoin as a reserve asset.
Get in touch with Gordon: https://bitwiseinvestments.com https://X.com/@Bitwise
⚠️ Disclaimer: This podcast is for informational purposes only. Not financial advice. Markets are volatile. Always do your own research.
Stay orange 🟠

Strive Insider Jeff Walton EXPLAINS: Why STRC Is Trading 100x More Than Wall Street's Best Bond

Bitcoin and digital credit's biggest institutional barrier isn't price volatility, it's Basel III, a post-2008 banking rule blocking banks from holding Bitcoin. Strive's Jeff Walton joins Pierre Rochard and Alexandre Laizet to break down why it matters, what's already working around it, and how the regulatory dominoes are falling.
Chapters:
00:00 Introduction to the Bitcoin Roundtable
01:59 Highlights from Strategy World & True North Event
08:14 The Role of Traditional Finance in Bitcoin Ecosystem
15:21 Bitcoin vs. Digital Intelligence: Future Perspectives
19:02 Kraken's Fed Master Account & Regulatory Environment
24:08 Understanding Basel III and Its Impact on Bitcoin
28:41 Listener Question: Regulatory Workarounds & US Influence
31:52 Innovative Strategies for Bitcoin Treasuries
36:49 Risk Management in Bitcoin Treasury Operations
40:53 The Breadth of Bitcoin Data Analytics
46:39 Insurance & Actuary Future In Digital Credit
51:37 The Future of Bitcoin Regulation and Investor Engagement
 
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roundtable@bitcointreasuries.net | https://bitcointreasuries.net
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Michael Saylor STUNS Bitcoin Analyst: How Strategy Added 500,000 BTC In 2 Years

Grain of Salt — the analyst behind True North who has followed Strategy for 5+ years — sits down with Tyler Rowe to break down what nobody expected: how Michael Saylor added 500,000 Bitcoin in just two years, why STRC is Strategy's iPhone moment, and when the institutional waterfall into Bitcoin preferred equity finally arrives. Mike Flaum (@Z06Z07) is featured on True North, one of the most-watched weekly Bitcoin treasury calls with 15,000+ listeners per episode. He was skeptical of Saylor's preferred equity strategy at first. Here's what changed his mind. In this episode: Why Saylor acquiring 500K BTC in 2 years was "impossible" until it wasn't The perpetual liability argument against STRC (and why Mike reversed course) How Strategy raised $23 billion in 2025 and whether they can do it again What a JP Morgan STRC white-label product would mean for the space Why the credit rating is the one thing holding institutional capital back MetaPlanet vs Strategy: who's doing capital markets better right now The "step function" price prediction and why you won't buy the dip in time 00:00 Cold Open 01:05 Intro To Grain of Salt (Mike Flaum) 02:38 MSTR True North & Grain of Salt's Involvement 03:03 Velocity of Michael Saylor's Bitcoin Accumulation Via Microstrategy 06:58 Saylor's Pivot To Preferred Equities As Leverage 10:33 Grain's Prediction of Saylor Raising $50B on the Preferreds 12:11 Bitcoin's Going To $1 Million or It's Going To Zero 16:04 Ratings Agencies & Other Challenges for BTCTCs 20:56 Capital Inflows To STRC & USD Dividend Reserve 23:26 Bitcoiners Who Hate On Treasuries 28:06 Stay Orange 🎙️ Featured Guest: Mike Flaum aka Grain of Salt - Bitcoin educator, MSTR trader, and conviction merchant. Known for MSTR True North & Going Long Bitcoin and MSTR Options. Mike Flaum's Book is The Rise, Fall and Reemergence of Bitcoin Treasury Companies — available on Amazon Kindle Follow Mike at https://twitter.com/@Z06Z07 About True North: True North is a weekly Bitcoin treasury investment podcast streaming live every Wednesday at 10PM EST. One of the most-watched grassroots calls in the MSTR community. Watch at https://www.mstrtruenorth.com https://Youtube.com/@BTCTrueNorth 🤝 SUPPORT OUR SHOW: COLDCARD is the industry-leading hardware wallet. Secure your Bitcoin at https://store.coinkite.com. Use referral code 6BT to get 6% off at checkout! 🔗 Resources: 🔔 Follow Bitcoin Treasuries: https://twitter.com/@btctreasuries 🔔 Follow Tyler: https://twitter.com/@tylercompiler 🔔 Subscribe: https://Youtube.com/@bitcointreasuriesnet 📊 Track every Bitcoin treasury company at https://bitcointreasuries.net 🎬 About the Show: Bitcoin Treasuries with Tyler Rowe interviews executives, investors, and industry leaders navigating the Bitcoin treasury revolution. ⚠️ Disclaimer: This podcast is for informational purposes only. Not financial advice. Always do your own research.

British HODL: Bitcoin Hitting $340K THIS Year (Why Saylor Keeps Buying & You're PANICKED)

🔥 British HODL just predicted Bitcoin hitting $340,000 this year and called out Bitcoiners for "shitting themselves" while institutions stack sats. Here's why the gold & silver PsyOp took your Bitcoin and what's coming next.
In this Bitcoin Treasuries exclusive, British HODL reveals:
✅ Why $340K Bitcoin is coming in 2026 (±15%) - and the liquidity cycle that gets us there💰 The "Gonadal Model" that's 100% accurate: Bigger zeal = Better Bitcoin returns📊 How private banks are offering $100M IBIT financing deals at 50% LTV (central bank + 70bps)🎯 The master PsyOp: Gold & silver rallied to take your Bitcoin - then silver dumped 41% in one day⚡ Why IBIT holders have 94% HODL rate while small wallets panic-sold everything🚨 MSTR's preferreds will be wrapped by banks and sold as their own products (coming soon)💎 Kevin Warsh = "Who wants to lower rates the most?" (That's how Fed chair was selected)
THE GAME-CHANGING INSIGHT:British HODL explains why "Bitcoin must rally" - not hopium, but math. Private bankers told him directly: "If Bitcoin only generates 16% CAGR but continues 50-80% drawdowns, we can't expose clients in size." Translation: Bitcoin HAS to deliver massive upside to justify the volatility. Otherwise institutions stay at 1% allocation forever. The ISM breaking 50 after 40 months, $8-10 trillion refinancing this year, and Kevin Warsh lowering rates = perfect setup for $340K.
KEY MOMENTS:00:00 Intro To British HODL01:37 Bitcoiner's Conviction Is Horrible This Cycle04:56 The Retail Era Of Bitcoin Is OVER07:46 HODL's Hilarious GONADAL Model & Why Bitcoin Must Go Up10:31 The Psy-Op That Made Bitcoiners Sell Their Bitcoin15:38 Gold & Silver Rallies Show BTC Can Easily Triple Overnight20:04 New Fed Chair Kevin Warsh Is Bullish For Bitcoin21:19 Fear, FOMO, Gold & Jeffrey Epstein FUD26:18 Saylor's Pivot To Preferred Equities31:44 Why We Got Rekt On Bitcoin Treasury Trades37:08 Building A Bitcoin Treasury Company That Will Last39:26 Do Bitcoin Treasuries Learn or EARN Conviction?40:54 Bitcoin to $340k & Central Bank Tricks47:26 Packaging Bitcoin For The Wealthy54:06 Stay Orange
BEST QUOTES:💎 "Everyone is bullish on Bitcoin besides Bitcoiners. Make that make any sense." - British HODL⚠️ "The gold & silver PsyOp was a master stroke. They convinced you Bitcoin was wrong, you sold, then silver dumped 41% in a day. Structural issues my ass." - British HODL🔥 "Your conviction is earned, never learned. Saylor earned it. These new treasury companies borrowed it from him. Now they're having to earn it." - British HODL
MSTR STRATEGY DEEP DIVE:
Preferreds (STRC/SATA) = foundation for continued accumulationBanks will wrap STRC and offer it as their own product to clientsTakes time for compliance, training, institutional understandingSaylor is educating banks/countries while building the products they'll useLong-term shareholders understand: Speculative platform on top of BitcoinIf Bitcoin +10%, MSTR must go +15%. If Bitcoin -10%, MSTR -15%. That's the value.
🎙️ Featured Guest:British HODL - Bitcoin educator, content creator, and conviction merchant. Known for calling out retail weakness and reading institutional signals.Follow British HODL: https://twitter.com/@BritishHodlYouTube: https://www.youtube.com/@UCBGncGsI7pIDP64RYoM6rEg 
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🔗 Resources:🔔 Follow Bitcoin Treasuries: https://twitter.com/@BTCtreasuries🔔 Follow Tyler: https://twitter.com/@TylerCompiler🔔 Subscribe: https://youtube.com/@BitcoinTreasuriesNet
🎬 About the Show:Bitcoin Treasuries with Tyler Rowe interviews executives, investors, and industry leaders navigating the Bitcoin treasury revolution.
⚠️ Disclaimer: This podcast is for informational purposes only. Not financial advice. Always do your own research.
Is British HODL right about $340K Bitcoin this year? 👇

Bitcoin Treasury Director Defends Nakamoto: Rookie CEO 'David Bailey Will Be Rewarded' (Full Analysis)

In this Bitcoin Treasuries Roundtable, Alexandre reveals:
✅ Why Strategy accumulated 200%+ of mined supply in 2026 (even in a bear market)
✅ The Nakamoto defense: Why David Bailey deserves credit despite 99% drawdown
✅ Abu Dhabi sovereign wealth fund DOUBLED iBit holdings during the dip
✅ How Bitcoin treasury companies raise capital (and why bear markets test conviction)
✅ The MetaPlanet income generation strategy earning tens of millions from volatility
✅ Why institutions will own 70% of Bitcoin (and that's actually bullish)
✅ Europe's unrealized gains tax disaster (even Christine Lagarde says it's wrong)