Tim Kotzman
@TimKotzman • 26,574 subscribers
Bitcoin Treasuries Media | https://t.co/e5EU61fh6j @HurdleRatePod | @MSTRTrueNorth | https://t.co/OOKUBCktxG
Videos
Welcome back to The Bitcoin Treasuries Podcast. Presented by Onramp. Today's guest is Phong Le, President and Chief Executive Officer of Strategy, the world's first and largest Bitcoin Treasury Company. We recorded this episode in Phong's office at Strategy Headquarters in Tysons, VA. A huge thank you to the Strategy team for their assistance in coordinating this project. Here's my conversation with Phong Le. 0:00 - Intro 0:32 - Phong’s background and experience at Strategy 2:40 - Serving on Strategy’s Board of Directors and how the Executive Team and Board work together 5:30 - Strategy’s international operations and headcount 6:57 - Strategy’s present day Business Intelligence operations 14:30 - Are Strategy employees Intrapreneurs? 20:44 - What did Phong learn from the last Crypto Winter? 28:35 - If Phong could choose the narrative for Bitcoin, what would it be? 44:34 - Does Phong push back on Treasurers that don’t adopt a Bitcoin Treasury Strategy? 47:39 - Talking KPIs and 53:43 - Should there be more Strategy replicas? 57:06 - Is STRK as successful as initially thought? 1:05:42 - Was the ATM of shares in the Fall too fast? 1:09:04 - Could it make sense for Strategy to buy its own shares back? 1:10:15 - How many people work on the Bitcoin Strategy team? 1:12:30 - How does Strategy measure success for its new Bitcoin advocacy role? 1:15:12 - Will Strategy become the largest and most profitable company in the world?
Tim Kotzman1,193,074 次观看 • 1 年前
Welcome back to The Bitcoin Treasuries Podcast. Today's guest is Garrett Johnston, Senior Vice President at Marsh. We discuss his career in insurance, risk based capital, Digital Credit in a bear market, talking to retail versus institutions, institutional grade Digital Credit, and more. Here's my conversation with Garrett Johnston. 0:00 - Intro 0:10 - Garrett’s career in insurance 6:12 - How institutions evaluate risk 18:00 - What is Risk Based Capital? 25:13 - What would be concerning to an institution? 37:05 - Par, peg, and de-peg 40:14 - Digital Credit in a bear market 45:14 - How do Bitcoin Treasury company executives talk to retail vs institutions? 54:00 - Why haven’t Bitcoin Treasury executives been more public in their conviction? 1:03:19 - Institutional Grade Digital Credit
Tim Kotzman42,167 次观看 • 1 个月前
Welcome back to The Bitcoin Treasuries Podcast. Today's guest is Michael Mescher, CEO of Gammon Capital. Michael and I discuss derivatives, institutional capital, balance sheet protection, and the future of Bitcoin treasury management. Here's my conversation with Michael Mescher. 0:00 - Intro 0:40 – Michael’s path from derivatives to Bitcoin treasury strategy 3:18 – What a 50% collateral haircut really means for a Bitcoin treasury company 11:15 – The coming $10 billion "Put Wall" and why 2027 matters 13:21 – Why Bitcoin treasury companies are paying too much for capital 15:02 – Using derivatives as balance sheet protection - not speculation 16:55 – Building a Bitcoin treasury playbook for bear and sideways markets 19:05 – What Michael Saylor gets right about financial engineering 22:15 – What separates the strongest Bitcoin treasury companies from the rest 24:42 – Why the market still hasn't built a better Bitcoin credit facility 26:54 – How Bitcoin treasury companies can unlock institutional capital 29:04 – Managing asset-liability mismatches on a Bitcoin balance sheet 32:38 – Capital efficient hedging strategies for downside protection 34:46 – How to sell a hedging strategy to a long-only Bitcoin executive 37:17 – What a strategic engagement with Gammon Capital looks like 38:18 - Where to find Michael Mescher and Gammon Capital
Tim Kotzman17,425 次观看 • 17 天前
Welcome back to The Bitcoin Treasuries Podcast. Today's guests are Andrew Webley and Jesse Myers. We discuss what gave them the conviction to start a Bitcoin Treasury Company, Digital Credit and Preferred Products, the secret sauce of having liquidity in your stock, listing on the London Stock Exchange, the Bitcoin Treasuries Unconference UK, and much more. Here's my conversation with Andrew Webley and Jesse Myers. 0:00 - Intro 0:43 - Andrew’s background and journey to Bitcoin 5:00 - Jesse’s background and journey to Bitcoin 13:08 - What gave Andrew and Jesse the conviction to start a DAT 16:30 - Are more DAT companies coming out of the UK? 21:48 - Gold & Silver vs Bitcoin 31:13 - Digital Credit & Preferred Products 40:20 - Consistently buying more Bitcoin as a DAT 47:12 - The secret sauce of having liquidity in your stock 51:51 - Smarter Web Company’s listing in London 1:01:05 - Bitcoin Treasuries Unconference UK 1:06:16 - Closing thoughts and where to find The Smarter Web Company online
Tim Kotzman120,475 次观看 • 5 个月前
Welcome back to The Bitcoin Treasuries Podcast. Today's guest is Ben Werkman, CIO of Strive. We discuss Ben's take on the current state of the market, the base case for the bear market, talking to retail versus institutional investors, stress testing digital credit in a bear market, Ben's day to day as CIO of Strive, and much more. Here's my conversation with Ben Werkman. 0:00 - Intro 0:30 - Ben’s take on the current state of the market 4:00 - The base case for the bear market? 9:20 - Talking to retail vs institutional investors 17:04 - Stress testing Digital Credit in a bear market 22:37 - Ben’s day-to-day as CIO of Strive 26:27 - Will a bull market lift all Bitcoin Treasury companies? 30:44 - Digital Credit while trading below NAV?
Tim Kotzman21,599 次观看 • 1 个月前
WATCH: Michael Saylor and Phong Le join for a fireside chat on retail conviction, digital IR, and fixing the capital markets with #Bitcoin. The crew - Jeff Walton, , Grain of Salt, Tim Kotzman, , @JBerneburg, Colleen, Mason, @TheJesseMK, , Josh Man, , Nithu Sezni and Dan Hillery - aren't just hosting conversations. They're helping rewire how companies engage with retail, tell their story, and scale conviction in the #Bitcoin era. Presented at Bitcoin For Corporations I Strategy World 2025. Intro Video Credit: Adrian 🟧 Fireside Chat Video Credit: Bitcoin Magazine
Tim Kotzman182,300 次观看 • 1 年前
Welcome back to The Bitcoin Treasuries Podcast. Presented by Onramp. Today's guest is Dylan LeClair. Dylan is the Director of #Bitcoin Strategy at Metaplanet Inc.. In 2024, Metaplanet Inc., a Tokyo-based company, experienced a remarkable stock price increase of approximately 2,629%. This unparalleled surge can be attributed to the company's strategic pivot toward #Bitcoin acquisition, transforming it into Asia's largest public Bitcoin holder. Here's my conversation with Dylan LeClair. 0:00 - Intro 0:11 - What’s going on at Metaplanet 5:50 - Moving strike warrants 12:36 - Dylan’s takeaways from visiting Japan 21:11 - Metaplanet’s partnership with Bitcoin Magazine 25:03 - What was buying Bitcoin like in Japan before Metaplanet? 30:18 - Is Metaplanet still the only Bitcoin Treasury company in Japan? 35:06 - Dilution vs Accretive Dilution 39:58 - Limit Up-Limit Down 43:20 - What does Dylan’s day-to-day look like? 44:34 - How does Dylan think about the volatility of Metaplanet stock? 49:11 - Could Metaplanet list in the US? 51:14 - Dylan’s thoughts on mNAV for Bitcoin Treasury companies 1:02:04 - The mechanics of issuing shares and then buying Bitcoin 1:08:12 - How long until the next Japanese Bitcoin-leveraged company comes around? 1:11:02 - What does Dylan see on the horizon for financial services products? 1:16:49 - How could this cycle play out differently? 1:24:46 - Dylan’s thoughts on the US Sovereign Wealth Fund
Tim Kotzman206,926 次观看 • 1 年前
The Smarter Web Company is currently the fastest growing Bitcoin Treasury Company in the world. The Smarter Web Company is also currently the best performing UK equity. Welcome back to The Bitcoin Treasuries Podcast. Powered by Onramp. Today's guest is Andrew Webley, CEO of The Smarter Web Company. We discuss the company's institutional investors, the tickers, mNAV months to cover, the firm's Bitcoin buying process, and more. Here's my conversation with Andrew Webley. 0:00 - Intro 0:11 - Smarter Web Company’s Big Bitcoin Move 2:57 - Institutional Investors in Smarter Web Company 6:21 - What are the tickers Smarter Web Company is trading under? 7:50 - What is the mNAV months to cover metric? 11:32 - What has surprised Andrew about the community around Smarter Web Company? 15:03 - Smarter Web Company’s Bitcoin buying process 19:45 - What questions does Andrew get from investors? 22:37 - How Andrew thinks through the media side of the business 26:18 - How Andrew thinks about investor relations 30:03 - Where does Andrew see the most amount of inbound and activity coming from? 32:29 - What is the ratio of Smarter Web’s investor base in the US vs UK? 36:28 - Andrew’s takeaways from Metaplanet still being the only Bitcoin Treasury company in Japan 42:08 - Where does Andrew see the Smarter Web Company going both operationally and with its treasury going forward? 45:09 - Will Bitcoin Treasury companies be the main driver of Bitcoin from $100K upwards? 49:17 - Closing thoughts and where to find Andrew online
Tim Kotzman166,075 次观看 • 1 年前
Welcome back to The Bitcoin Treasuries Podcast. Powered by Onramp. Today's guest is Mike Alfred. We discuss his take on the four year cycle, how Mike sees AI, Bitcoin and energy working together, Digital Credit, the dynamic between the Bitcoin and TradFi worlds, and much more. Here's my conversation with Mike Alfred. 0:00 - Intro 0:14 - Mike’s take on the 4 year cycle 2:13 - How Mike sees AI, Bitcoin, and Energy working together 5:53 - Who will win in the mining business? 9:21 - The importance of meeting company leadership in person 11:52 - Mike’s social media etiquette 15:06 - What is Mike thinking going into the holidays? 17:30 - Is sentiment more negative than usual? 21:05 - Digital Credit 26:12 - The dynamic between the Bitcoin and TradFi worlds
Tim Kotzman41,080 次观看 • 8 个月前
Bitcoin Strategy with Chaitanya Jain Welcome back to The Bitcoin Treasuries Podcast. Powered by Onramp. Today's guest is Chaitanya Jain, Bitcoin Strategy Intern at Strategy. This conversation was filmed in front of a live audience in Boston. Thank you to msbitcoinlife.com for organizing and hosting the event, and for filming and editing the fireside chats. Thank you to Matt Marlinski 🏁 and team for additional editing and post production. Here's my conversation with CJ. 0:00 - Intro 4:10 - Chaitanya’s role with Strategy 11:20 - Bitcoin Treasury companies in the news 16:16 - Institutional vs Retail Strategy Investors 19:28 - Chaitanya’s time at Blackstone 24:50 - How Chaitanya came across the job posting for Strategy 28:35 - Bitcoin’s effect on the soul 32:00 - What assurances does Strategy have that its Bitcoin isn’t being re-hypothecated 32:45 - When does Strategy become a Bitcoin lender? 34:20 - How Strategy team generates yield 35:40 - Will MSTR ever sell its Bitcoin?
Tim Kotzman61,424 次观看 • 1 年前
Welcome back to The Bitcoin Treasuries Podcast. Today's guest is Chase Furey. We discuss how Chase views Digital Credit, Morgan Stanley's Bitcoin ETF, Bitcoin, AI and Energy, what's left for Bitcoin adoption, STRC and SATA in a bull market, the Bitcoin Treasuries ecosystem, and much more. Here's my conversation with Chase. 0:00 - Intro 0:13 - How Chase views Digital Credit 1:45 - Bitcoin, AI, & Energy 3:11 - Morgan Stanley’s Bitcoin ETF 6:24 - Can anyone catch up to Strategy and Saylor? 9:43 - What’s left for Bitcoin adoption? 11:44 - STRC and SATA in a bull market 14:21 - AI’s intersection with Bitcoin & MSTR over the next decade 17:21 - The Bitcoin Treasuries ecosystem
Tim Kotzman19,297 次观看 • 3 个月前
