The power of Data is undeniable. And unharnessed - it’s nothing but chaos. Making data your ally. Using it to lead with confidence and clarity. Host Jess Carter is solving problems in real-time to reveal what’s possible. Helping communities and people thrive. This is Data Driven Leadership, a show brought to you by Resultant.
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Content provided by Stephan Livera. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Stephan Livera or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://staging.podcastplayer.com/legal.
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Bitcoin Treasury Companies: Risk, Reward & mNAV with Blake Canfield | SLP666
Manage episode 488826712 series 2482009
Content provided by Stephan Livera. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Stephan Livera or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://staging.podcastplayer.com/legal.
Blake & Stephan discusses the emerging concept of Bitcoin treasury companies, their role in the debt market, and the potential benefits and risks associated with them. He emphasizes the proactive approach these companies take to bring capital into Bitcoin, the importance of understanding the mechanics behind their operations, and the sustainability of their net asset value (MNAV). The discussion also touches on investment strategies, personal perspectives on risk, and the future of Bitcoin treasury companies in the evolving financial landscape.
Takeaways
🔸Bitcoin treasury companies tap into the debt market to bring capital into Bitcoin.
🔸The debt market is a significant opportunity for Bitcoin growth.
🔸Concerns exist regarding the ethos of Bitcoin and the use of debt.
🔸Bitcoin treasury companies can influence governance and attract institutional investors.
🔸The sustainability of mNAV is crucial for the success of these companies.
🔸Different financial instruments can enhance Bitcoin yield for shareholders.
🔸The risk of state capture is a concern for Bitcoin treasury companies.
🔸Investors should consider their personal risk tolerance when investing in these companies.
🔸The potential for Bitcoin treasury companies to onboard new investors is significant.
🔸Understanding the mechanics of these companies is essential for informed investment decisions.
Timestamps:
(00:00) - Intro
(01:08) - Debt market will flow into Bitcoin through treasury companies
(04:49) - Parallels between treasury companies and altcoins
(07:40) - What are the different approaches to acquire Bitcoin for a company?
(12:18) - What is mNAV & why must it be greater than 1?
(17:29) - Sustainability of Bitcoin treasury strategies
(21:46) - Sponsors
(23:35) - Analyzing various Bitcoin treasury companies
(29:01) - What is BTC Torque?; Understanding Fiat Convertible Debt
(35:37) - Global demand for Bitcoin treasury companies
(39:59) - Did GameStop fumble its Bitcoin strategy?
(42:12) - Understanding mNAV & Bitcoin Yield
(45:00) - Risk vs reward analysis of investing in Bitcoin treasury companies
(51:08) - What can go wrong with the treasury companies?
(53:37) - Sponsors
(59:28) - Can Strategy pay off the interest obligations of their preferred stocks?
(1:01:19) - What are the biggest risks for a Bitcoin treasury company?
(1:02:28) - Thesis for rotating profits from treasury companies into Bitcoin; Tax (in)efficiency models
(1:09:55) - What is the future of Bitcoin treasury companies?
(1:13:05) - Closing thoughts
Links:
Sponsors:
CoinKite.com (code LIVERA)
Stephan Livera links:
Follow me on X: @stephanlivera
671 episodes
Share
Manage episode 488826712 series 2482009
Content provided by Stephan Livera. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Stephan Livera or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://staging.podcastplayer.com/legal.
Blake & Stephan discusses the emerging concept of Bitcoin treasury companies, their role in the debt market, and the potential benefits and risks associated with them. He emphasizes the proactive approach these companies take to bring capital into Bitcoin, the importance of understanding the mechanics behind their operations, and the sustainability of their net asset value (MNAV). The discussion also touches on investment strategies, personal perspectives on risk, and the future of Bitcoin treasury companies in the evolving financial landscape.
Takeaways
🔸Bitcoin treasury companies tap into the debt market to bring capital into Bitcoin.
🔸The debt market is a significant opportunity for Bitcoin growth.
🔸Concerns exist regarding the ethos of Bitcoin and the use of debt.
🔸Bitcoin treasury companies can influence governance and attract institutional investors.
🔸The sustainability of mNAV is crucial for the success of these companies.
🔸Different financial instruments can enhance Bitcoin yield for shareholders.
🔸The risk of state capture is a concern for Bitcoin treasury companies.
🔸Investors should consider their personal risk tolerance when investing in these companies.
🔸The potential for Bitcoin treasury companies to onboard new investors is significant.
🔸Understanding the mechanics of these companies is essential for informed investment decisions.
Timestamps:
(00:00) - Intro
(01:08) - Debt market will flow into Bitcoin through treasury companies
(04:49) - Parallels between treasury companies and altcoins
(07:40) - What are the different approaches to acquire Bitcoin for a company?
(12:18) - What is mNAV & why must it be greater than 1?
(17:29) - Sustainability of Bitcoin treasury strategies
(21:46) - Sponsors
(23:35) - Analyzing various Bitcoin treasury companies
(29:01) - What is BTC Torque?; Understanding Fiat Convertible Debt
(35:37) - Global demand for Bitcoin treasury companies
(39:59) - Did GameStop fumble its Bitcoin strategy?
(42:12) - Understanding mNAV & Bitcoin Yield
(45:00) - Risk vs reward analysis of investing in Bitcoin treasury companies
(51:08) - What can go wrong with the treasury companies?
(53:37) - Sponsors
(59:28) - Can Strategy pay off the interest obligations of their preferred stocks?
(1:01:19) - What are the biggest risks for a Bitcoin treasury company?
(1:02:28) - Thesis for rotating profits from treasury companies into Bitcoin; Tax (in)efficiency models
(1:09:55) - What is the future of Bitcoin treasury companies?
(1:13:05) - Closing thoughts
Links:
Sponsors:
CoinKite.com (code LIVERA)
Stephan Livera links:
Follow me on X: @stephanlivera
671 episodes
All episodes
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Similar to Stephan Livera Podcast
The power of Data is undeniable. And unharnessed - it’s nothing but chaos. Making data your ally. Using it to lead with confidence and clarity. Host Jess Carter is solving problems in real-time to reveal what’s possible. Helping communities and people thrive. This is Data Driven Leadership, a show brought to you by Resultant.
…
continue reading
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…
continue reading
Show notes are at https://stevelitchfield.com/sshow/chat.html
…
continue reading
The American healthcare system is one of the most innovative in the world. But it’s also riddled with complex challenges, such as access to affordable medications, inefficiency and administrative burdens, and communication barriers between providers. There’s clearly a better way—and at Surescripts, we have a unique sightline into what that may be. In this series, host Melanie Marcus, Chief Marketing Officer of Surescripts, sits down with today’s most inspiring and innovative leaders in healt ...
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