Afleveringen
-
Agenda:
SpaceX & Broad Capital Markets
Macro
BTC Prague Takeaways
STRC & SATA Analysis & Credit Instruments
Fed Meeting
Thank you to our Sponsors:
BitGo: https://www.bitgo.com/
SALT: https://saltlending.com/
ABUNDANT MINES: https://abundantmines.com
Disclaimer: The content in this video is for informational and educational purposes only and should not be considered financial advice. We are not financial advisors, and you should consult with a qualified professional before making any financial decisions. All investments involve risks, and you are responsible for your own decisions.
True North does not intend for anything herein to be considered an offer or sale of any securities, including those of Strive. True North encourages listeners to consult with their tax and investment advisors. Additional information on any securities or issuers referenced herein can be found in such issuersâ filings with the Securities and Exchange Commission (âSECâ), including any registration statements, prospectuses and prospectus supplements for each issuersâ securities. Listeners should read such documents and other documents incorporated by reference therein or that such issuer has filed with the SEC for more complete information. You may get these documents for free by visiting EDGAR on the SEC website at [www.sec.gov](http://www.sec.gov).*Any securities referred to herein, including those of True Northâs parent Strive, are not collateralized by underlying bitcoin holdings and may be subordinated to senior claims. There are no guarantee of returns liquidity or future performance. The securities referred to herein are neither bank deposits, nor FDIC insured, nor regulated in the same way, and do not have the same regulatory and other protections as bank accounts, money market funds, treasuries, or similar investments and as a result may not be comparable investments. Current trading prices and effective yields may vary, current rates are not indicative of future rates, and in some cases rates are subject to frequent adjustments and may be significantly lower than discussed herein. Cash dividends are not guaranteed. In some cases, dividends have not been paid and may not be paid in the future. Ownership of securities referred to in herein does not confer ownership in the underlying assets, including bitcoin. -
Agenda:
MSTR Balance Sheet Math
Reserve Status
STRC & Pref Price Action
Risk Relativity
Thank you to our Sponsors:
BitGo: https://www.bitgo.com/
SALT: https://saltlending.com/
ABUNDANT MINES: https://abundantmines.com
Disclaimer: The content in this video is for informational and educational purposes only and should not be considered financial advice. We are not financial advisors, and you should consult with a qualified professional before making any financial decisions. All investments involve risks, and you are responsible for your own decisions.
True North does not intend for anything herein to be considered an offer or sale of any securities, including those of Strive. True North encourages listeners to consult with their tax and investment advisors. Additional information on any securities or issuers referenced herein can be found in such issuersâ filings with the Securities and Exchange Commission (âSECâ), including any registration statements, prospectuses and prospectus supplements for each issuersâ securities. Listeners should read such documents and other documents incorporated by reference therein or that such issuer has filed with the SEC for more complete information. You may get these documents for free by visiting EDGAR on the SEC website at [www.sec.gov](http://www.sec.gov).*Any securities referred to herein, including those of True Northâs parent Strive, are not collateralized by underlying bitcoin holdings and may be subordinated to senior claims. There are no guarantee of returns liquidity or future performance. The securities referred to herein are neither bank deposits, nor FDIC insured, nor regulated in the same way, and do not have the same regulatory and other protections as bank accounts, money market funds, treasuries, or similar investments and as a result may not be comparable investments. Current trading prices and effective yields may vary, current rates are not indicative of future rates, and in some cases rates are subject to frequent adjustments and may be significantly lower than discussed herein. Cash dividends are not guaranteed. In some cases, dividends have not been paid and may not be paid in the future. Ownership of securities referred to in herein does not confer ownership in the underlying assets, including bitcoin. -
Zijn er afleveringen die ontbreken?
-
đď¸ As of this recording, 5/27/26, Strategy's (MSTR) performance:
Open: $156.76Close: $154.20Volume: ~ 11.89M SharesmNAV: ~1.23Market Cap: ~ $54BBTC: 843,738âąď¸ TIMESTAMPS & INSIGHTS:
00:00:00 - Intro And NFA: Educational discussion and disclaimers00:02:45 - Market Structure Overview: Bitcoin volatility and AI trade setup00:04:36 - Amplification Dynamics: Dividend coverage and leverage improve00:07:21 - Bitcoin Collateral Risk: 2022 balance sheet stress comparison00:09:36 - Balance Sheet Stress Test: Bitcoin drawdowns and coverage durability00:10:43 - Preferred Equity Security: Bitcoin overcollateralization strengthens credit00:13:13 - Refinancing Strategy Shift: Cash reserves retire senior liabilities00:16:10 - Capital Structure Psychology: Market reassesses reserve reduction risks00:19:10 - Bitcoin Per Share Focus: Debt buybacks reduce dilution pressure00:20:25 - Convertible Arbitrage Mechanics: Volatility traders value optionality00:22:23 - Infinite Leverage Thesis: mNAV expansion under stressed Bitcoin00:24:13 - Preferred Equity Risks: Amplification alters collateral assumptions00:27:15 - Leveraged Bitcoin Exposure: Strategy equity outperforms spot BTC00:29:02 - Traditional Valuation Limits: Default models ignore capital access00:32:32 - Digital Credit Stability: Fiduciary media concerns and dividends00:35:13 - Bitcoin Credit Scaling: Trillion-dollar preferred structures discussed00:39:43 - AI Memory Trade: Semiconductor positioning and AI infrastructure demand00:42:13 - High Bandwidth Memory: AI compute bottlenecks intensify00:45:28 - Future Compute Curves: Photonics and decentralized processing00:48:54 - Technological Expansion Thesis: Robotics and global adoption accelerate00:49:58 - AI Equity Volatility: Micron trading cycles and risk00:55:09 - Valuation Expansion Dynamics: AI multiples and equity issuance00:57:15 - Sentiment Reflexivity Loops: Markets rotate across AI narratives01:01:58 - Dollar Base Layer: AI growth meets debt crisis01:03:34 - Federal Debt Spiral: Interest burdens outpace economic growth01:07:30 - Treasury Demand Crisis: Global trust erosion pressures dollar01:09:00 - Fed Policy Trap: Inflation and liquidity dilemmas collide01:12:28 - Digital Credit Demand: Capital preservation drives Bitcoin yield products01:15:42 - Danâs Final Thoughts: Long-term conviction through market uncertainty01:17:42 - Soleilâs Final Thoughts: Digital credit and Bitcoin market resilience01:21:25 - Adrianâs Final Thoughts: Bitcoin and macro outlook wrap-up01:23:01 - Jeffâs Final Thoughts: Long-duration Bitcoin adoption thesisThank you to our Sponsors:
BitGo: https://www.bitgo.com/
SALT: https://saltlending.com/
ABUNDANT MINES: https://abundantmines.com
Disclaimer: The content in this video is for informational and educational purposes only and should not be considered financial advice. We are not financial advisors, and you should consult with a qualified professional before making any financial decisions. All investments involve risks, and you are responsible for your own decisions.
True North does not intend for anything herein to be considered an offer or sale of any securities, including those of Strive. True North encourages listeners to consult with their tax and investment advisors. Additional information on any securities or issuers referenced herein can be found in such issuersâ filings with the Securities and Exchange Commission (âSECâ), including any registration statements, prospectuses and prospectus supplements for each issuersâ securities. Listeners should read such documents and other documents incorporated by reference therein or that such issuer has filed with the SEC for more complete information. You may get these documents for free by visiting EDGAR on the SEC website at [www.sec.gov](http://www.sec.gov).*Any securities referred to herein, including those of True Northâs parent Strive, are not collateralized by underlying bitcoin holdings and may be subordinated to senior claims. There are no guarantee of returns liquidity or future performance. The securities referred to herein are neither bank deposits, nor FDIC insured, nor regulated in the same way, and do not have the same regulatory and other protections as bank accounts, money market funds, treasuries, or similar investments and as a result may not be comparable investments. Current trading prices and effective yields may vary, current rates are not indicative of future rates, and in some cases rates are subject to frequent adjustments and may be significantly lower than discussed herein. Cash dividends are not guaranteed. In some cases, dividends have not been paid and may not be paid in the future. Ownership of securities referred to in herein does not confer ownership in the underlying assets, including bitcoin. -
Agenda:
STRC analysis (VWAP / risk)Market Benchmarks & Capital Flow Comparisons Bitcoin Supply, Demand & Price Impact4.Yield, Performance & Strategic Positioning
Have questions? Ask on our website! https://tnorth.com/ask
Thank you to our Sponsors:
BitGo: https://www.bitgo.com/
SALT: https://saltlending.com/
ABUNDANT MINES: https://abundantmines.com
Disclaimer: The content in this video is for informational and educational purposes only and should not be considered financial advice. We are not financial advisors, and you should consult with a qualified professional before making any financial decisions. All investments involve risks, and you are responsible for your own decisions.
True North does not intend for anything herein to be considered an offer or sale of any securities, including those of Strive. True North encourages listeners to consult with their tax and investment advisors. Additional information on any securities or issuers referenced herein can be found in such issuersâ filings with the Securities and Exchange Commission (âSECâ), including any registration statements, prospectuses and prospectus supplements for each issuersâ securities. Listeners should read such documents and other documents incorporated by reference therein or that such issuer has filed with the SEC for more complete information. You may get these documents for free by visiting EDGAR on the SEC website at [www.sec.gov](http://www.sec.gov).*Any securities referred to herein, including those of True Northâs parent Strive, are not collateralized by underlying bitcoin holdings and may be subordinated to senior claims. There are no guarantee of returns liquidity or future performance. The securities referred to herein are neither bank deposits, nor FDIC insured, nor regulated in the same way, and do not have the same regulatory and other protections as bank accounts, money market funds, treasuries, or similar investments and as a result may not be comparable investments. Current trading prices and effective yields may vary, current rates are not indicative of future rates, and in some cases rates are subject to frequent adjustments and may be significantly lower than discussed herein. Cash dividends are not guaranteed. In some cases, dividends have not been paid and may not be paid in the future. Ownership of securities referred to in herein does not confer ownership in the underlying assets, including bitcoin. -
đď¸ As of this recording, 5/14/26, Strategy's (MSTR) performance:
* Open: $177.85
* Close: $186.97
* Volume: ~15.9M Shares
* mNAV: ~1.23
* Market Cap: ~ $65.5B
* BTC: 818,869
âąď¸ TIMESTAMPS & INSIGHTS:
* 00:00:00 - Intro And NFA: Educational discussion and disclaimers
* 00:07:05 - Daily Dividend Breakthrough: First US security with daily payouts
* 00:14:03 - Stablecoin Arbitrage Surface: Dividend frequency expands carry trade activity
* 00:17:23 - Dividend Market Psychology: Daily payouts sustain investor engagement
* 00:19:09 - Credit Risk Modeling: Evaluating perpetual dividend sustainability
* 00:22:16 - Daily Yield Tokenization: DeFi liquidity models disrupted by SATA
* 00:26:23 - DRIP Compounding Mechanics: Daily reinvestment increases effective yield
* 00:30:53 - 13% Yield Product: Public preferred equity launches daily income
* 00:32:32 - Structured Credit Evolution: Bitcoin credit wrapped into rated products
* 00:35:03 - Bitcoin Payment Rails: Lightning enables instant Bitcoin spending
* 00:38:34 - Digital Credit Unlock: SATA acts as instant global credit layer
* 00:39:50 - STRC Trading Explosion: Ex-dividend dates drive massive trading volume
* 00:42:59 - Institutional Carry Trades: Quant funds exploit dividend arbitrage spreads
* 00:47:32 - Liquidity Centralization Effects: US markets concentrate digital credit liquidity
* 00:49:28 - Sticky Yield Behavior: Daily dividends reduce investor selling pressure
* 00:52:11 - Leveraged SATA Trading: Margin carry trades amplify yield exposure
* 00:56:03 - Bitcoin Trojan Horse: Digital credit drives indirect Bitcoin adoption
* 00:58:37 - Capital Gravity Effects: Stable assets attract institutional capital flows
* 01:04:45 - Bitcoin Risk Mispricing: Probability models create asymmetric market alpha
* 01:11:14 - Insurance Balance Sheet: Duration matching liabilities with Bitcoin reserves
* 01:14:25 - IPO Risk Transfer: Public equities distribute leveraged Bitcoin exposure
* 01:16:05 - MSTR Trading Chaos: Hedging flows create persistent alpha opportunities
* 01:20:48 - Bitcoin Regulatory Tailwinds: Clarity Act accelerates digital credit adoption
* 01:23:50 - Bitcoin Capital Markets: STRC volume signals securitization acceleration
* 01:27:33 - Soleil's Final Thoughts: Digital credit transforms Bitcoin capital markets
* 01:29:15 - Dan's Final Thoughts: Long-term digital credit market outlook
* 01:30:37 - Jeff's Final Thoughts: Bitcoin capital markets continue accelerating
Thank you to our Sponsors:
BitGo: https://www.bitgo.com/
SALT: https://saltlending.com/
ABUNDANT MINES: https://abundantmines.com
See our website: https://tnorth.com
Disclaimer: The content in this video is for informational and educational purposes only and should not be considered financial advice. We are not financial advisors, and you should consult with a qualified professional before making any financial decisions. All investments involve risks, and you are responsible for your own decisions.
\
True North does not intend for anything herein to be considered an offer or sale of any securities, including those of Strive. True North encourages listeners to consult with their tax and investment advisors. Additional information on any securities or issuers referenced herein can be found in such issuersâ filings with the Securities and Exchange Commission (âSECâ), including any registration statements, prospectuses and prospectus supplements for each issuersâ securities. Listeners should read such documents and other documents incorporated by reference therein or that such issuer has filed with the SEC for more complete information. You may get these documents for free by visiting EDGAR on the SEC website at [www.sec.gov](http://www.sec.gov).\* \Any securities referred to herein, including those of True Northâs parent Strive, are not collateralized by underlying bitcoin holdings and may be subordinated to senior claims. There are no guarantee of returns liquidity or future performance. The securities referred to herein are neither bank deposits, nor FDIC insured, nor regulated in the same way, and do not have the same regulatory and other protections as bank accounts, money market funds, treasuries, or similar investments and as a result may not be comparable investments. Current trading prices and effective yields may vary, current rates are not indicative of future rates, and in some cases rates are subject to frequent adjustments and may be significantly lower than discussed herein. Cash dividends are not guaranteed. In some cases, dividends have not been paid and may not be paid in the future. Ownership of securities referred to in herein does not confer ownership in the underlying assets, including bitcoin. -
đď¸ As of this recording, 5/6/26, Strategy's (MSTR) performance:
* Open: $184.57
* Close: $186.82
* Volume: ~14.3M Shares
* mNAV: ~1.28
* Market Cap: ~ $64B
* BTC: 818,334
âąď¸ TIMESTAMPS & INSIGHTS:
* 00:00:00 - Intro: TN trailer and not financial advice
* 00:03:06 - Recent Market Reactions: Strategy earnings call sparks polarized sentiment
* 00:05:17 - Selling Bitcoin And Converts: BTC sale implications and debt cleanup optionality
* 00:13:36 - Bitcoin Liquidity And Preferreds: Market depth strengthens perpetual capital optionality
* 00:17:50 - Bitcoin Tax Loss Strategy: BTC sales fund dividends and optimize tax basis
* 00:25:43 - Credit Arbitrage And mNAV: Preferred flows, dilution math, and amplification mechanics
* 00:31:24 - Amplification And Credit Risk: Modeling leverage, volatility, and dividend durability
* 00:35:03 - Stakeholder Capital Framework: Balancing common equity, credit holders, and Bitcoin
* 00:39:40 - Bitcoin Buyer And Risk Models: Strategy demand, volatility, and amplification scenarios
* 00:44:58 - Bitcoin Per Share Thesis: mNAV valuation and long-term equity amplification
* 00:49:35 - Digital Credit Expansion: Layered leverage and Bitcoin-backed financial products
* 00:53:50 - DeFi Yield Markets: Pendle, tranching, and smart contract risk dynamics
* 00:57:35 - Bitcoin-Backed Credit Markets: Digital credit reshapes global debt infrastructure
* 01:02:40 - Bitcoin Adoption And Inflation: Retail demand and monetary debasement tailwinds
* 01:07:45 - Sticky Features And Scale: Amazon-style adoption and long-term risk pricing
* 01:12:45 - Insurance And Digital Credit: Bitcoin-backed balance sheets and AI disruption
* 01:17:35 - Bitcoin Conference Insights: Institutional adoption, mining, and business integration
* 01:23:25 - Bitcoin Business Adoption: Digital credit community expansion
* 01:25:16 - Digital Credit Adoption: Bitcoin-backed finance and competitive business advantages
* 01:28:54 - Danâs Final Thoughts: BTC per share, mNAV, and shareholder accretion
* 01:30:16 - Masonâs Final Thoughts: Bitcoin yield, buybacks, and shareholder optimism
* 01:33:21 - Grainâs Final Thoughts: Bullish outlook on Bitcoin yield and shareholder value
* 01:34:22 - Jeffâs Final Thoughts: Stream updates, tokenization, and ecosystem growth
Thank you to our Sponsors:
BitGo: https://www.bitgo.com/
SALT: https://saltlending.com/
See our website: https://tnorth.com
Disclaimer: The content in this video is for informational and educational purposes only and should not be considered financial advice. We are not financial advisors, and you should consult with a qualified professional before making any financial decisions. All investments involve risks, and you are responsible for your own decisions.
\
True North does not intend for anything herein to be considered an offer or sale of any securities, including those of Strive. True North encourages listeners to consult with their tax and investment advisors. Additional information on any securities or issuers referenced herein can be found in such issuersâ filings with the Securities and Exchange Commission (âSECâ), including any registration statements, prospectuses and prospectus supplements for each issuersâ securities. Listeners should read such documents and other documents incorporated by reference therein or that such issuer has filed with the SEC for more complete information. You may get these documents for free by visiting EDGAR on the SEC website at [www.sec.gov](http://www.sec.gov).\* \Any securities referred to herein, including those of True Northâs parent Strive, are not collateralized by underlying bitcoin holdings and may be subordinated to senior claims. There are no guarantee of returns liquidity or future performance. The securities referred to herein are neither bank deposits, nor FDIC insured, nor regulated in the same way, and do not have the same regulatory and other protections as bank accounts, money market funds, treasuries, or similar investments and as a result may not be comparable investments. Current trading prices and effective yields may vary, current rates are not indicative of future rates, and in some cases rates are subject to frequent adjustments and may be significantly lower than discussed herein. Cash dividends are not guaranteed. In some cases, dividends have not been paid and may not be paid in the future. Ownership of securities referred to in herein does not confer ownership in the underlying assets, including bitcoin. -
đď¸ As of this recording, 4/22/26, Strategy's (MSTR) performance:
* Open: $174.93
* Close: $179.36
* Volume: ~31.9M Shares
* mNAV: ~1.25
* Market Cap: ~ $60.1B
* BTC: 815,061
âąď¸ TIMESTAMPS & INSIGHTS:
* 00:00:00 - Trailer: Preview of key topics and themes
* 00:03:00 - Recent News: Jeff on rapid market developments
* 00:06:40 - Balance Sheet Growth: Assets rise from recent tailwinds
* 00:08:13 - Leverage Profile: Debt ratio and downside thresholds
* 00:09:07 - Dividend Structure Change: Shift to semi-monthly payouts
* 00:12:54 - mNAV Premium: Raising capital above asset value
* 00:14:12 - Audio Issue: Grain speaking while muted
* 00:15:14 - Fiat System Outlook: Structural imbalance and long-term risks
* 00:16:20 - Market Participation Shift: Volume drives trading behavior
* 00:19:58 - Income Demand Shift: Yield focus drives investor interest
* 00:22:31 - Price Stability Narrative: Instrument holds through volatility
* 00:25:30 - True North Event: Vegas meetup at Bitcoin conference
* 00:26:29 - Investor Skepticism: Debate on risk and principal return
* 00:27:42 - Covered Call Management: Sole discusses rolling positions
* 00:30:14 - Earnings Outlook: Projected net income and narrative impact
* 00:33:59 - Structured Credit Buildout: Tranching, risk buffers, and scaling framework
* 00:42:04 - Rating Agency Path: Structuring for credit ratings
* 00:47:05 - Implementation Pathway: Raising capital and building structure
* 00:53:24 - Capital Access Constraints: Limits for US-based investors
* 00:56:56 - Structured Finance Case Study: Natural gas cash flow tranching
* 01:01:38 - Innovation Mindset: Builders shaping financial future
* 01:07:38 - Early Adopter Advantage: Retail leads new instruments
* 01:11:22 - Institutional Entry Timing: Later adoption impacts returns
* 01:12:30 - Rate Outlook Narrative: AI used to justify rate shifts
* 01:13:46 - Long-Term Demand Thesis: Sustaining high yield environment
* 01:16:34 - Capital Rotation Dynamics: Equity profits move into credit
* 01:19:44 - Convertible Strategy: Balancing downside protection and upside
* 01:22:48 - Liquidity Environment Shift: Capital flows and macro setup
* 01:25:21 - Valuation Framework Shift: Balance sheet over cash flow
* 01:28:15 - Risk-Free Debate: Questioning traditional benchmarks
* 01:31:20 - Soleilâs Final Thoughts: Risk, conviction and allocation
* 01:33:27 - Narrative and Sentiment: Grain on framing and perception
* 01:37:20 - Masonâs Final Thoughts: Opportunity sizing, positioning, conviction
* 01:40:56 - Danâs Final Thoughts: Product evolution, structure, and demand
* 01:42:04 - Jeffâs Final Thoughts: Macro framing, capital flows, and outlook
Thank you to our Sponsors:
BitGo: https://www.bitgo.com/
SALT: https://saltlending.com/
See our website: https://tnorth.com
Disclaimer: The content in this video is for informational and educational purposes only and should not be considered financial advice. We are not financial advisors, and you should consult with a qualified professional before making any financial decisions. All investments involve risks, and you are responsible for your own decisions.
True North does not intend for anything herein to be considered an offer or sale of any securities, including those of Strive. True North encourages listeners to consult with their tax and investment advisors. Additional information on any securities or issuers referenced herein can be found in such issuersâ filings with the Securities and Exchange Commission (âSECâ), including any registration statements, prospectuses and prospectus supplements for each issuersâ securities. Listeners should read such documents and other documents incorporated by reference therein or that such issuer has filed with the SEC for more complete information. You may get these documents for free by visiting EDGAR on the SEC website at [www.sec.gov](http://www.sec.gov).*Any securities referred to herein, including those of True Northâs parent Strive, are not collateralized by underlying bitcoin holdings and may be subordinated to senior claims. There are no guarantee of returns liquidity or future performance. The securities referred to herein are neither bank deposits, nor FDIC insured, nor regulated in the same way, and do not have the same regulatory and other protections as bank accounts, money market funds, treasuries, or similar investments and as a result may not be comparable investments. Current trading prices and effective yields may vary, current rates are not indicative of future rates, and in some cases rates are subject to frequent adjustments and may be significantly lower than discussed herein. Cash dividends are not guaranteed. In some cases, dividends have not been paid and may not be paid in the future. Ownership of securities referred to in herein does not confer ownership in the underlying assets, including bitcoin. -
đď¸ As of this recording, 4/15/26, Strategy's (MSTR) performance:
* Open: $139.75
* Close: $143.54
* Volume: 13.9M Shares
* mNAV: ~1.15
* Market Cap: ~ $47.9B
* BTC: 780,897
âąď¸ TIMESTAMPS & INSIGHTS:
* 00:00:00 - Intro: TN trailer and not financial advice
* 00:03:33 - True North Agenda: Purpose, hosts, and show structure
* 00:05:19 - Team First Takes: Macro outlook, Bitcoin, and sentiment
* 00:13:59 - STRC Arbitrage Setup: Dividend pricing inefficiency explained
* 00:18:08 - Capital Scale Visualized: Billion-scale liquidity perspective
* 00:19:23 - Capital Markets Shift: New credit instruments driving demand
* 00:25:42 - Balance Sheet Flywheel: Capital infrastructure capturing flows
* 00:27:15 - STRC Demand Growth: Institutional scale and liquidity expansion
* 00:32:36 - Yield Dislocation Signals: Pricing inefficiencies and buyer dominance
* 00:34:20 - Credit Market Expansion: Digital credit targeting large TAM
* 00:36:42 - Inflation Mechanics Breakdown: Monetary expansion and asset impact
* 00:37:28 - Debasement Math Framework: Rule of 72 purchasing erosion
* 00:41:43 - Leverage Risk Analysis: Balance sheets, collateral, downside risk
* 00:47:48 - Issuance Constraints Explained: Collateral limits and leverage capacity
* 00:52:00 - Bitcoin Price Impact: Capital deployment influencing market structure
* 00:53:17 - mNAV Allocation Strategy: Dilution timing and capital efficiency
* 00:57:15 - Rate Regime Dynamics: Interest rates shaping capital allocation
* 00:58:15 - Financial Repression Setup: Policy pressure driving risk assets
* 01:01:55 - Instrument Pricing Inefficiency: Yield distortions and gaps
* 01:05:01 - Market Structure Signals: Liquidity shifts and capital rotation
* 01:07:24 - Options Strategy Framework: Yield capture, leverage, positioning dynamics
* 01:13:14 - Capital Allocation Deep Dive: mNAV, BTC per share, scaling strategy
* 01:19:33 - Issuance Scaling Dynamics: Capital deployment and BTC accumulation pace
* 01:23:09 - Capital Structure Mechanics: Issuance layering and efficiency gains
* 01:24:44 - Media Narrative Debate: Coffeezilla, Bankless, and risk framing
* 01:26:42 - Soleil's Final Thoughts
* 01:29:05 - Mason's Final Thoughts
* 01:33:29 - Grain's final thoughts
* 01:38:38 - Dan's Final Thoughts
* 01:39:55 - Jeff's Final Thoughts
Thank you to our Sponsors:
BitGo: https://www.bitgo.com/
Horizon: https://joinhorizon.com/?ref=TRUENORTH
SALT: https://saltlending.com/
MSTR Links:
* https://www.mstr-tracker.com
* https://saylortracker.com/
* https://robinhood.com/us/en/stocks/MSTR/
* https://www.strategy.com/
* https://strc.live/
Disclaimer: The content in this video is for informational and educational purposes only and should not be considered financial advice. We are not financial advisors, and you should consult with a qualified professional before making any financial decisions. All investments involve risks, and you are responsible for your own decisions.
True North does not intend for anything herein to be considered an offer or sale of any securities, including those of Strive. True North encourages listeners to consult with their tax and investment advisors. Additional information on any securities or issuers referenced herein can be found in such issuersâ filings with the Securities and Exchange Commission (âSECâ), including any registration statements, prospectuses and prospectus supplements for each issuersâ securities. Listeners should read such documents and other documents incorporated by reference therein or that such issuer has filed with the SEC for more complete information. You may get these documents for free by visiting EDGAR on the SEC website at [www.sec.gov](http://www.sec.gov).*Any securities referred to herein, including those of True Northâs parent Strive, are not collateralized by underlying bitcoin holdings and may be subordinated to senior claims. There are no guarantee of returns liquidity or future performance. The securities referred to herein are neither bank deposits, nor FDIC insured, nor regulated in the same way, and do not have the same regulatory and other protections as bank accounts, money market funds, treasuries, or similar investments and as a result may not be comparable investments. Current trading prices and effective yields may vary, current rates are not indicative of future rates, and in some cases rates are subject to frequent adjustments and may be significantly lower than discussed herein. Cash dividends are not guaranteed. In some cases, dividends have not been paid and may not be paid in the future. Ownership of securities referred to in herein does not confer ownership in the underlying assets, including bitcoin. -
Agenda:
Volume & LiquiditySharpe Ratio vs Sortino Ratio - Risk / Return MetricsMarket Happenings (MS / Citadel / Blackrock) When MSTR 1M BTC? TN Community QuestionsThank you to our Sponsors:
BitGo: https://www.bitgo.com/
Horizon: https://joinhorizon.com/?ref=TRUENORTH
Have questions? Ask the team here: https://tnorth.com/ask/
TRUE NORTH LINKS:
True North Website: https://tnorth.comX: https://x.com/MSTRTrueNorthđ MERCH: https://thehodlshop.com/collections/tâŚYoutube: / @btctruenorthMSTR Links:
https://www.mstr-tracker.comhttps://saylortracker.com/https://robinhood.com/us/en/stocks/MSTR/https://www.strategy.com/https://strc.live/Disclaimer: The content in this video is for informational and educational purposes only and should not be considered financial advice. We are not financial advisors, and you should consult with a qualified professional before making any financial decisions. All investments involve risks, and you are responsible for your own decisions.
True North does not intend for anything herein to be considered an offer or sale of any securities, including those of Strive. True North encourages listeners to consult with their tax and investment advisors. Additional information on any securities or issuers referenced herein can be found in such issuersâ filings with the Securities and Exchange Commission (âSECâ), including any registration statements, prospectuses and prospectus supplements for each issuersâ securities. Listeners should read such documents and other documents incorporated by reference therein or that such issuer has filed with the SEC for more complete information. You may get these documents for free by visiting EDGAR on the SEC website at [www.sec.gov](http://www.sec.gov).*Any securities referred to herein, including those of True Northâs parent Strive, are not collateralized by underlying bitcoin holdings and may be subordinated to senior claims. There are no guarantee of returns liquidity or future performance. The securities referred to herein are neither bank deposits, nor FDIC insured, nor regulated in the same way, and do not have the same regulatory and other protections as bank accounts, money market funds, treasuries, or similar investments and as a result may not be comparable investments. Current trading prices and effective yields may vary, current rates are not indicative of future rates, and in some cases rates are subject to frequent adjustments and may be significantly lower than discussed herein. Cash dividends are not guaranteed. In some cases, dividends have not been paid and may not be paid in the future. Ownership of securities referred to in herein does not confer ownership in the underlying assets, including bitcoin. -
đ§ True North episode 61: Bitcoin meets capital markets as investors explore digital credit, leverage, and macro risk. From MSTR aalysis to portfolio construction, the discussion breaks down adoption, liquidity dynamics, and why Bitcoin is reshaping capital allocation.
đď¸ As of this recording, 4/1/26, Strategy's (MSTR) performance:
Open: $126.18Close: $122.78Volume: 15.4M SharesmNAV: ~1.19Market Cap: ~ $42.4BBTC: 762,099Have questions you want covered in the livestream? Ask them here: https://tnorth.com/ask/
âąď¸ TIMESTAMPS & INSIGHTS:
00:00:00 - Episode Intro00:01:20 - Agenda and current events: macro setup, topics, market context00:05:38 - Bitcoin TradFi adoption: allocator perspective on mispricing00:08:49 - Credit structuring mechanics: tranching volatility into yield layers00:11:07 - Tokenization and liquidity: STRC volume, options, market structure00:14:29 - Bear market strategy: building, educating, launching new products00:22:41 - MSTR balance sheet: leverage, BTC holdings, capital strength00:26:45 - Treasury company scaling: efficiency, multiples, capital allocation00:31:01 - Federal Reserve policy: liquidity, rates, balance sheet strategy00:36:09 - Macro complexity risks: second-order effects and system fragility00:38:15 - Liquidity trap dynamics: capital idle, velocity collapse, inflation risk00:43:28 - Debt and macro pressure: deficits, interest burden, systemic risk00:45:47 - Portfolio and digital credit: allocation shift, yield vs volatility00:56:56 - Bitcoin allocation shift: portfolio transition, risk and time horizon00:59:12 - Bitcoin risk framework: counterparty risk, allocation philosophy shift01:05:43 - Equity purpose rethink: cash flow claims vs speculative growth01:10:40 - Scarcity premium thesis: Bitcoin vs traditional monetary assets01:14:14 - Equity capital mechanics: purpose of equity and capital raising role01:19:55 - Equity market incentives: EPS focus, buybacks, capital allocation01:22:50 - Bitcoin adoption curve: talent inflow, ecosystem growth, structural shift01:26:40 - Ownership and concentration: conviction bets vs diversification tradeoffs01:29:40 - Volatility risk framing: perceived volatility vs actual systemic risk01:33:08 - Risk underwriting approach: probability, downside, survivability focus01:41:47 - Danâs final thoughts: closing perspective on markets and outlook01:42:55 - Grantâs final thoughts: closing perspective on markets and outlook01:44:35 - Jeffâs final thoughts: closing perspective on markets and outlook01:48:20 - Benâs final thoughts: closing perspective on markets and outlook01:53:00 - Grainâs final thoughts: closing perspective on markets and outlookCheck out our upcoming live events and join us in person! https://tnorth.com/events/
Thank you to our Sponsors:
BitGo: https://www.bitgo.com/
Horizon: https://joinhorizon.com/?ref=TRUENORTH
TRUE NORTH LINKS:
True North Website: https://tnorth.comX: https://x.com/MSTRTrueNorthđ MERCH: https://thehodlshop.com/collections/tâŚYoutube: / @btctruenorth True North does not intend for anything herein to be considered an offer or sale of any securities, including those of Strive. True North encourages listeners to consult with their tax and investment advisors. Additional information on any securities or issuers referenced herein can be found in such issuersâ filings with the Securities and Exchange Commission (âSECâ), including any registration statements, prospectuses and prospectus supplements for each issuersâ securities. Listeners should read such documents and other documents incorporated by reference therein or that such issuer has filed with the SEC for more complete information. You may get these documents for free by visiting EDGAR on the SEC website at [www.sec.gov](http://www.sec.gov).*Any securities referred to herein, including those of True Northâs parent Strive, are not collateralized by underlying bitcoin holdings and may be subordinated to senior claims. There are no guarantee of returns liquidity or future performance. The securities referred to herein are neither bank deposits, nor FDIC insured, nor regulated in the same way, and do not have the same regulatory and other protections as bank accounts, money market funds, treasuries, or similar investments and as a result may not be comparable investments. Current trading prices and effective yields may vary, current rates are not indicative of future rates, and in some cases rates are subject to frequent adjustments and may be significantly lower than discussed herein. Cash dividends are not guaranteed. In some cases, dividends have not been paid and may not be paid in the future. Ownership of securities referred to in herein does not confer ownership in the underlying assets, including bitcoin. -
đ§ True North episode 60:
đď¸ As of this recording, 3/25/26, Strategy's (MSTR) performance:
* Open: $144.99
* Close: $140.40
* Volume: 18.7M Shares
* mNAV: ~1.19
* Market Cap: ~ $48.8 and 3B
* BTC: 762,099
âąď¸ TIMESTAMPS & INSIGHTS:
* 00:00:00 - Intro: Podcast setup and discussion scope
* 00:02:18 - Market Events Overview: Macro news and volatility drivers
* 00:04:52 - Information Warfare Shift: Social media distorts market signals
* 00:06:50 - Geopolitical Risk Premium: Conflict uncertainty drives Bitcoin demand
* 00:08:58 - MSTR Capital Strategy: ATM programs and capital structure expansion
* 00:12:52 - STRC Arbitrage Window: Record date flows and liquidity dynamics
* 00:17:50 - Options Hedging Framework: Intraweek options and credit hedging strategies
* 00:20:28 - Carry Trade Risks: Dividend timing and execution risk dynamics
* 00:26:04 - Yield Stability Thesis: Dividend demand and arbitrage compression
* 00:31:35 - Private Credit Breakdown: Liquidity stress and structural cracks
* 00:37:13 - Generational Capital Shift: Wealth transfer and investment behavior
* 00:39:15 - Real Estate Thesis: Land value, credit, and AI impact
* 00:50:20 - Credit Rating Debate: Bitcoin valuation and rating implications
* 00:54:10 - Cost of Capital Dynamics: Yield thresholds and capital allocation shifts
* 00:58:21 - Bitcoin Re-Rating Catalyst: Credit upgrade and S&P inclusion implications
* 01:02:03 - Digital Credit Strategy: Revenue model and business pivot decisions
* 01:06:19 - Market Perception Shift: Bitcoin legitimacy and institutional framing
* 01:09:09 - Bitcoin Legitimacy Curve: Institutional adoption and risk reframing
* 01:15:10 - Digital Credit Platform: Tools, models, and research ecosystem
* 01:20:47 - AI Compute Economics: Monetization models and infrastructure risks
* 01:35:04 - AI Infrastructure Evolution: Local models and compute commoditization
* 01:38:50 - Local AI Breakthrough: Compression enables on-device intelligence
* 01:46:55 - Digital Capital Future: Bitcoin, AI, and credit convergence
* 01:54:39 - Closing thoughts
Powered by:
Strive: https://Strive.com
True North Website: https://www.tnorth.com
Thank you to our Sponsors:
BitGo: https://www.bitgo.com/
Horizon: https://joinhorizon.com/?ref=TRUENORTH
TRUE NORTH LINKS:
* True North Website: https://tnorth.com
* X: https://x.com/MSTRTrueNorth
* đ MERCH: https://thehodlshop.com/collections/true-north
* Youtube: @MSTRTrueNorth
MSTR Links:
* https://www.mstr-tracker.com
* https://saylortracker.com/
* https://robinhood.com/us/en/stocks/MSTR/
* https://www.strategy.com/
Disclaimer: The content in this video is for informational and educational purposes only and should not be considered financial advice. We are not financial advisors, and you should consult with a qualified professional before making any financial decisions. All investments involve risks, and you are responsible for your own decisions.
⢠True North does not intend for anything herein to be considered an offer or sale of any securities, including those of Strive. True North encourages listeners to consult with their tax and investment advisors. Additional information on any securities or issuers referenced herein can be found in such issuersâ filings with the Securities and Exchange Commission (âSECâ), including any registration statements, prospectuses and prospectus supplements for each issuersâ securities. Listeners should read such documents and other documents incorporated by reference therein or that such issuer has filed with the SEC for more complete information. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov.
Any securities referred to herein, including those of True Northâs parent Strive, are not collateralized by underlying bitcoin holdings and may be subordinated to senior claims. There are no guarantee of returns liquidity or future performance. The securities referred to herein are neither bank deposits, nor FDIC insured, nor regulated in the same way, and do not have the same regulatory and other protections as bank accounts, money market funds, treasuries, or similar investments and as a result may not be comparable investments. Current trading prices and effective yields may vary, current rates are not indicative of future rates, and in some cases rates are subject to frequent adjustments and may be significantly lower than discussed herein. Cash dividends are not guaranteed. In some cases, dividends have not been paid and may not be paid in the future. Ownership of securities referred to in herein does not confer ownership in the underlying assets, including bitcoin. -
đ§ True North episode 59: Explore how institutional flows, leverage, and digital credit are reshaping markets, driving Bitcoin demand, and setting up a massive capital reallocation with the True North team.
đď¸ As of this recording, 3/18/26, Strategy's (MSTR) performance:
Open: $144.99Close: $140.56Volume: 21.3M SharesmNAV: ~1.22Market Cap: ~ $44.64BBTC: 761,068âąď¸ TIMESTAMPS & INSIGHTS:
00:00:00 - Intro00:04:54 - Top of mind: Stretch adoption and Bitcoin positioning00:08:04 - Bitcoin cycle outlook: ETF flows and halving cycle expectations00:10:09 - Bitcoin balance sheet model: Capital structure, leverage, and liquidity design00:13:30 - Capital structure design: Volatility split and financial engineering00:14:37 - Capital structure amplification: Preferred equity mechanics and Bitcoin per share growth00:18:36 - Bitcoin liquidity engine: Institutional trading volume and capital market access00:21:08 - ATM issuance strategy: Shelf sizing, filings, and market psychology effects00:24:41 - Market priced preferred yield: Open market dividend discovery and rate stabilization00:27:08 - Bank preferred risk analysis: Legacy structures, yield opacity, and credit uncertainty00:29:53 - Bank credit opacity risks: Balance sheet complexity and rating uncertainty explained00:33:45 - Credit rerating catalyst: Market disruption and systemic repricing risk unfolds00:37:10 - Credit market breakdown: Private credit cracks, insurance risk, and forced selling dynamics00:45:15 - Credit market response: Capital rotation, government intervention, and bullish demand dynamics00:49:42 - Bitcoin acquisition engine: Strategy scaling purchases and supply absorption dynamics00:55:30 - Bitcoin demand acceleration: Market liquidity, top buying, and supply shock dynamics01:01:09 - Bitcoin performance breakout: Sharpe ratio, supply capture, and inflection catalysts01:05:47 - AI driven investing edge: Data structuring, modeling, and decision advantage01:09:28 - Capital allocation strategy: Digital credit, liquidity positioning, and balance sheet optimization01:15:20 - Capital markets execution: ATM strategy, dividend arbitrage, and timing dynamics01:21:09 - Bitcoin milestone trajectory: Million BTC target, projections, and valuation comparisons01:26:40 - Bitcoin price trajectory: Million dollar targets and vertical market repricing thesis01:30:40 - Digital credit narrative: Market adoption, exclusivity, and investor knowledge gap01:37:25 - Institutional capital flows: Large scale accumulation and market demand expansion01:43:39 - Final thoughts: Closing insights on capital shifts and Bitcoin trajectoryThank you to our Sponsors:
BitGo: https://www.bitgo.com/
Horizon: https://joinhorizon.com/?ref=TRUENORTH
TRUE NORTH LINKS:
True North Website: https://tnorth.comX: https://x.com/MSTRTrueNorthđ MERCH: https://thehodlshop.com/collections/tâŚYoutube: @MSTRTrueNorthMSTR Links:
https://www.mstr-tracker.comhttps://saylortracker.com/https://robinhood.com/us/en/stocks/MSTR/https://www.strategy.com/Disclaimer: The content in this video is for informational and educational purposes only and should not be considered financial advice. We are not financial advisors, and you should consult with a qualified professional before making any financial decisions. All investments involve risks, and you are responsible for your own decisions.
⢠True North does not intend for anything herein to be considered an offer or sale of any securities, including those of Strive. True North encourages listeners to consult with their tax and investment advisors. Additional information on any securities or issuers referenced herein can be found in such issuersâ filings with the Securities and Exchange Commission (âSECâ), including any registration statements, prospectuses and prospectus supplements for each issuersâ securities. Listeners should read such documents and other documents incorporated by reference therein or that such issuer has filed with the SEC for more complete information. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov.
Any securities referred to herein, including those of True Northâs parent Strive, are not collateralized by underlying bitcoin holdings and may be subordinated to senior claims. There are no guarantee of returns liquidity or future performance. The securities referred to herein are neither bank deposits, nor FDIC insured, nor regulated in the same way, and do not have the same regulatory and other protections as bank accounts, money market funds, treasuries, or similar investments and as a result may not be comparable investments. Current trading prices and effective yields may vary, current rates are not indicative of future rates, and in some cases rates are subject to frequent adjustments and may be significantly lower than discussed herein. Cash dividends are not guaranteed. In some cases, dividends have not been paid and may not be paid in the future. Ownership of securities referred to in herein does not confer ownership in the underlying assets, including bitcoin. -
đ§ MSTR True North episode 58: A deep dive into Bitcoinâs evolving capital markets, covering digital credit, private credit risks, institutional adoption, and the financial innovations shaping the future of money, markets, and technology.
đď¸ As of this recording, 3/11/26, Strategy's (MSTR) performance:
Open: $139.81Close: $138.33Volume: 15.6M SharesmNAV: ~1.21Market Cap: ~ $46.16BBTC: 738,731âąď¸ TIMESTAMPS & INSIGHTS:
00:00:00 - Intro00:03:09 - Digital Credit Opportunity: Early adoption and institutional awareness gap00:06:35 - Bear Market Capital Raise: Strategy raises $1.2B to accumulate Bitcoin00:09:04 - Monetary Debasement Risks: Expanding money supply and structural deficits00:11:02 - Bitcoin Financial Instruments: Derivatives and securities built on BTC liquidity00:14:45 - Volatility vs Yield Products: Bitcoin equity exposure versus income instruments00:19:29 - Corporate Liquidity Allocation: Balance sheet tranching and treasury strategy00:23:23 - Institutional Adoption Signals: Wall Street firms validating digital credit markets00:27:30 - STRC Capital Expansion: Rapid capital raises and scalable credit structure00:31:12 - Bitcoin Growth Projections: Modeling paths toward $1Mâ$2M Bitcoin prices00:37:37 - Private Credit Market Cracks: Liquidity gates and systemic risks emerging00:43:09 - Private Credit Illiquidity: Leveraged institutions exposed to opaque assets00:46:30 - Rating Agency Barriers: Institutional adoption constrained by credit frameworks00:47:33 - Rating Agency Constraints: Insurance leverage and institutional capital rules00:52:34 - STRC Confidence Signals: Strong investor conviction and refusal to sell below par00:56:13 - STRC Price Floor Strategy: Incentives preventing sales below par value01:00:05 - Retail Demand Expansion: Growing investor interest in monthly yield products01:06:05 - Investor Transparency Tools: Dashboards simplify yield and risk analysis01:12:15 - Bitcoin Balance Sheet Thesis: Corporate strategy and macro risk positioning01:15:54 - Probabilistic Risk Management: Avoid mispricing volatility risks01:18:17 - Bitcoin Adoption Pathways: Yield products onboarding investors into Bitcoin01:25:05 - Credit Market Foundations: Building track record for scalable digital credit products01:29:04 - Technology Adoption Uncertainty: Modeling disruptive innovations like Bitcoin01:33:01 - Forecasting Bitcoin Models: Limits of projections in exponential markets01:37:01 - Final Thoughts: Bitcoin momentum, institutional adoption, and capital market shiftMSTR TRUE NORTH LINKS:
True North Website: https://www.mstrtruenorth.comX: https://x.com/MSTRTrueNorthđ MERCH: https://thehodlshop.com/collections/tâŚYoutube: @MSTRTrueNorthMSTR Links:
https://www.mstr-tracker.comhttps://saylortracker.com/https://robinhood.com/us/en/stocks/MSTR/https://www.strategy.com/Disclaimer: The content in this video is for informational and educational purposes only and should not be considered financial advice. We are not financial advisors, and you should consult with a qualified professional before making any financial decisions. All investments involve risks, and you are responsible for your own decisions.
⢠True North does not intend for anything herein to be considered an offer or sale of any securities, including those of Strive. True North encourages listeners to consult with their tax and investment advisors. Additional information on any securities or issuers referenced herein can be found in such issuersâ filings with the Securities and Exchange Commission (âSECâ), including any registration statements, prospectuses and prospectus supplements for each issuersâ securities. Listeners should read such documents and other documents incorporated by reference therein or that such issuer has filed with the SEC for more complete information. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov.
Any securities referred to herein, including those of True Northâs parent Strive, are not collateralized by underlying bitcoin holdings and may be subordinated to senior claims. There are no guarantee of returns liquidity or future performance. The securities referred to herein are neither bank deposits, nor FDIC insured, nor regulated in the same way, and do not have the same regulatory and other protections as bank accounts, money market funds, treasuries, or similar investments and as a result may not be comparable investments. Current trading prices and effective yields may vary, current rates are not indicative of future rates, and in some cases rates are subject to frequent adjustments and may be significantly lower than discussed herein. Cash dividends are not guaranteed. In some cases, dividends have not been paid and may not be paid in the future. Ownership of securities referred to in herein does not confer ownership in the underlying assets, including bitcoin. -
đ§ MSTR True North episode 57:
đď¸ As of this recording, 3/5/26, Strategy's (MSTR) performance:
* Open: $143.83
* Close: $146.44
* Volume: 37.4M Shares
* mNAV: ~1.22
* Market Cap: ~ $48.9B
* U.S. Market Cap Ranking: ~#220
* BTC: 720,737
âąď¸ TIMESTAMPS & INSIGHTS:
* 00:00:00 - Intro agenda framing: NFA context and True North overview
* 00:02:50 - True North Event Insights: Global investors discuss Bitcoin credit innovation
* 00:10:20 - Bitcoin Gravity Trade: Macro capital flows toward BTC strategies
* 00:14:17 - Bitcoin Credit Flywheel: STRC demand potentially driving $1M BTC
* 00:17:01 - Capital Structure Strategy: Bitcoin buybacks and amplification dynamics
* 00:23:48 - Capital Stack Instruments: Strike and STRD positioning within Strategy credit structure
* 00:28:10 - Credit Risk Mispricing: Markets misunderstanding STRC capital stack
* 00:30:18 - Geopolitical Macro Signals: Conflict uncertainty and capital deployment
* 00:35:34 - Policy Catalysts: Regulatory shifts supporting Bitcoin adoption
* 00:39:00 - MSTR STRC Trading Pair: Rotating equity and credit exposure
* 00:42:00 - Corporate Treasury Strategy: Companies adopting STRC as high-yield cash reserve
* 00:48:25 - Bond Market Disruption: Digital credit liquidity vs traditional prefs
* 00:55:49 - Private Credit Trap: Illiquidity risk and locked capital
* 00:59:31 - Bitcoin Analytics Tools: STRC dashboards and yield calculators
* 01:03:46 - AI Risk Pricing: Machines reallocating capital toward digital credit
* 01:10:21 - Corporate Bitcoin Treasuries: BTC balance sheets improving credit access
* 01:15:16 - Institutional STRC Demand: Desks and buyers driving issuance
* 01:16:57 - Downside Protection Trade: STRC put strategy for asymmetric yield
* 01:21:45 - Digital Equity Model: Bitcoin capital vs credit volatility transfer
* 01:25:05 - Market Cycle Timing: Navigating bull and bear uncertainty
* 01:28:57 - Perpetual Funding Model: Financing projects with infinite duration capital
* 01:31:55 - Monetary Debasement Hedge: Stretch as non-debasing capital instrument
* 01:35:22 - Institutional Education Gap: Comparing digital credit to legacy bonds
* 01:37:30 - STRC Adoption Curve: Path toward $300B preferred market scale
* 01:40:29 - Credit First Strategy: Saylor prioritizes balance sheet strength
* 01:42:47 - Capital Amplification Engine: Digital credit expanding Bitcoin exposure
* 01:44:28 - Banking Infrastructure Shift: Wall Street adapting to crypto capital
* 01:47:28 - Banking System Pressure: Bitcoin reserves challenging traditional rehypothecation model
* 01:52:02 - Control System Debate: AI, stablecoins, and financial surveillance
MSTR TRUE NORTH LINKS:
* True North Website: https://www.mstrtruenorth.com
* X: https://x.com/MSTRTrueNorth
* đ MERCH: https://thehodlshop.com/collections/true-north
* Youtube: @MSTRTrueNorth
MSTR Links:
* https://www.mstr-tracker.com
* https://saylortracker.com/
* https://robinhood.com/us/en/stocks/MSTR/
* https://www.strategy.com/
Disclaimer: The content in this video is for informational and educational purposes only and should not be considered financial advice. We are not financial advisors, and you should consult with a qualified professional before making any financial decisions. All investments involve risks, and you are responsible for your own decisions.
⢠True North does not intend for anything herein to be considered an offer or sale of any securities, including those of Strive. True North encourages listeners to consult with their tax and investment advisors. Additional information on any securities or issuers referenced herein can be found in such issuersâ filings with the Securities and Exchange Commission (âSECâ), including any registration statements, prospectuses and prospectus supplements for each issuersâ securities. Listeners should read such documents and other documents incorporated by reference therein or that such issuer has filed with the SEC for more complete information. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov.
Any securities referred to herein, including those of True Northâs parent Strive, are not collateralized by underlying bitcoin holdings and may be subordinated to senior claims. There are no guarantee of returns liquidity or future performance. The securities referred to herein are neither bank deposits, nor FDIC insured, nor regulated in the same way, and do not have the same regulatory and other protections as bank accounts, money market funds, treasuries, or similar investments and as a result may not be comparable investments. Current trading prices and effective yields may vary, current rates are not indicative of future rates, and in some cases rates are subject to frequent adjustments and may be significantly lower than discussed herein. Cash dividends are not guaranteed. In some cases, dividends have not been paid and may not be paid in the future. Ownership of securities referred to in herein does not confer ownership in the underlying assets, including bitcoin. -
đ§ MSTR True North episode 56: The crew dives dive into Strategyâs capital structure, rising BTC per share, AI-driven disruption, and regulatory momentum that is brewing. Th team breaks down digital credit strength, supply math, and why this cycle may be structurally different.
đď¸ As of this recording, 2/18/26, Strategy's (MSTR) performance: Open: $127.63 Close: $125.20 Volume: 17.31M Shares mNAV: ~0.99 Market Cap: ~ $44.5B U.S. Market Cap Ranking: ~#246 BTC: 717,131
âąď¸ TIMESTAMPS & INSIGHTS:
00:00:00 - Intro agenda framing: NFA context and True North overview
00:03:01 - Bear Market Sentiment: Bitcoin Investor Week tone, stablecoin utility, and builder resilience
00:10:14 - Institutional Pricing Signal: Strategy leverage, preferred credit quality, and market confidence
00:13:43 - Conviction Over Price: Unflappable mindset, opportunity cost, and long-term Bitcoin allocation
00:17:04 - Moving Average Analysis: 200-week trend strength, Tesla comparison, and Strategy valuation reset
00:21:18 - Death Cross Dynamics: Technical lag, bottom timing risk, and Strategy mispricing debate
00:24:10 - Binary Risk Framing: Zero thesis, refinancing fears, and long-term leverage confidence
00:30:05 - Bitcoin-Gold Ratio: Relative valuation and macro positioning
00:30:00 - M2 Money Supply Framework: Bitcoin adjusted for monetary expansion and debasement baseline
00:35:35 - Correlation Breakdown: Commodities spike, multi-strat deleveraging, and Bitcoin price pressure
00:40:07 - Private Credit Liquidity Risk: Redemption halts, digital credit transparency, and STRC durability
00:47:08 - Preferred TAM Expansion: Capital stack opportunity size
00:49:14 - Supply Convergence Model: Strategy vs remaining Bitcoin issuance
00:48:50 - Bitcoin Supply & AI Shock: Issuance math and exponential disruption
00:58:00 - AI Disruption Wave: Cost collapse, software commoditization, and capital flight to Bitcoin
01:04:25 - Capital Market Disruption: AI acceleration compressing equity durability and IPO stability
01:08:39 - Digital Credit Track Record: STRC durability, liquidity edge, and goodwill risk exposure 01:12:24 - Strategy World 2026 Preview: True North event agenda and digital credit focus 01:16:15 - Strategy Capital Plan Debate: ATM runway, preferred issuance, and demand elasticity 01:19:28 - Stretch Distribution Focus: Digital credit education and execution phase
01:23:23 - Yield Spread Advantage: STRC vs stablecoins and capital stack strength 01:28:24 - On-Chain Capital Rotation: Stablecoin yield switch into STRC
01:30:24 - Regulatory & Exponential Convergence: Stablecoin policy momentum and AI-driven Bitcoin adoption
01:30:24 - Bull Market Convexity: Balance sheet structure and Bitcoin per share expansion 01:40:07 - Final Thoughts: Fiscal debasement and long-term Bitcoin conviction
Be part of the True North In-Side Event experience.
Tickets available here: đ https://luma.com/tnb4c26
Strategy World sign-up: https://www.strategysoftware.com/world26/register
Use discount code TrueNorth for 20% off your registrationâjust a little bonus for our True North community.
MSTR TRUE NORTH LINKS:
True North Website: https://www.mstrtruenorth.com
X: https://x.com/MSTRTrueNorth
đ MERCH: https://thehodlshop.com/collections/true-north
Youtube: @MSTRTrueNorth
MSTR Links: https://www.mstr-tracker.com https://saylortracker.com/ https://robinhood.com/us/en/stocks/MSTR/ https://www.strategy.com/
Disclaimer: The content in this video is for informational and educational purposes only and should not be considered financial advice. We are not financial advisors, and you should consult with a qualified professional before making any financial decisions. All investments involve risks, and you are responsible for your own decisions.
⢠True North does not intend for anything herein to be considered an offer or sale of any securities, including those of Strive. True North encourages listeners to consult with their tax and investment advisors. Additional information on any securities or issuers referenced herein can be found in such issuersâ filings with the Securities and Exchange Commission (âSECâ), including any registration statements, prospectuses and prospectus supplements for each issuersâ securities. Listeners should read such documents and other documents incorporated by reference therein or that such issuer has filed with the SEC for more complete information. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov.
Any securities referred to herein, including those of True Northâs parent Strive, are not collateralized by underlying bitcoin holdings and may be subordinated to senior claims. There are no guarantee of returns liquidity or future performance. The securities referred to herein are neither bank deposits, nor FDIC insured, nor regulated in the same way, and do not have the same regulatory and other protections as bank accounts, money market funds, treasuries, or similar investments and as a result may not be comparable investments. Current trading prices and effective yields may vary, current rates are not indicative of future rates, and in some cases rates are subject to frequent adjustments and may be significantly lower than discussed herein. Cash dividends are not guaranteed. In some cases, dividends have not been paid and may not be paid in the future. Ownership of securities referred to in herein does not confer ownership in the underlying assets, including bitcoin. -
đ§ MSTR True North episode 55: We break down Strategyâs capital structure, mNAV, leverage, and the emerging digital credit markets. Learn more about how institutional capital actually moves in Bitcoin an how to think about risk in this marketplace.
đď¸ As of this recording, 2/11/26, Strategy's (MSTR) performance: Open: $133.68 Close: $126.07 Volume: 25.84M Shares mNAV: ~0.95 Market Cap: ~ $41.9B U.S. Market Cap Ranking: 252 BTC: 714,644
âąď¸ TIMESTAMPS & INSIGHTS:
00:00:00 - Intro agenda framing: NFA context and True North overview
00:03:36 - Bitcoin Mindset Shift: Personal wealth framework transformation
00:06:06 - MSTR Relative Strength: Premium signaling potential bottom
00:08:26 - Balance Sheet Expansion: Billions raised and liquidity strength
00:09:28 - Risk Mispricing Debate: Bitcoin supply underwriting blind spot
00:11:03 - Options Yield Strategies: Dividend pricing and put premiums
00:13:20 - AI Prompting & Workflow: Stress testing valuation frameworks
00:15:32 - Strategy World Preview: Treasury operators and securitization focus
00:20:17 - Bitcoin Treasury Growth: 100K to 714K BTC scale
00:23:00 - Market Sentiment & Macro: 2026 ATH polls and Goldilocks outlook
00:26:39 - Bitcoin Per Share Context: KPI adoption and seasoning phase
00:30:15 - Preferred Equity Acceleration: Rapid STRF STRD STRC expansion
00:33:06 - BTC Exposure Debate: Leverage mechanics and dilution tradeoffs
00:35:55 - Capital Structure Pivot: Converts toward perpetual preferred era
00:38:53 - Public Pref Market Shift: Tickered equity and retail access
00:42:05 - STRC Market Data Review: Yield stability despite BTC drawdown
00:46:55 - Media Narrative & Refi Risk: $8K scenario and press dynamics
00:51:51 - Capital Raise Velocity: Scaling from millions to billions
00:54:11 - Institutional Execution Reality: Timing risk and OTC mechanics
00:58:13 - Coinbase Valuation Gap: Leverage, goodwill, and moat contrast
01:05:00 - Treasury Model Walkthrough: BTC growth and dilution math
01:17:15 - mNAV & CAGR Sensitivity: Growth scenarios toward $1M target
01:19:04 - Final Thoughts: Weather volatility and long-term conviction
Be part of the True North In-Side Event experience.
Tickets available here: đ https://luma.com/tnb4c26
Strategy World sign-up: https://www.strategysoftware.com/world26/register
Use discount code TrueNorth for 20% off your registrationâjust a little bonus for our True North community.
MSTR TRUE NORTH LINKS:
True North Website: https://www.mstrtruenorth.com
X: https://x.com/MSTRTrueNorth
đ MERCH: https://thehodlshop.com/collections/true-north
Youtube: @MSTRTrueNorth
MSTR Links: https://www.mstr-tracker.com https://saylortracker.com/ https://robinhood.com/us/en/stocks/MSTR/ https://www.strategy.com/
Disclaimer: The content in this video is for informational and educational purposes only and should not be considered financial advice. We are not financial advisors, and you should consult with a qualified professional before making any financial decisions. All investments involve risks, and you are responsible for your own decisions.
⢠True North does not intend for anything herein to be considered an offer or sale of any securities, including those of Strive. True North encourages listeners to consult with their tax and investment advisors. Additional information on any securities or issuers referenced herein can be found in such issuersâ filings with the Securities and Exchange Commission (âSECâ), including any registration statements, prospectuses and prospectus supplements for each issuersâ securities. Listeners should read such documents and other documents incorporated by reference therein or that such issuer has filed with the SEC for more complete information. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov.
Any securities referred to herein, including those of True Northâs parent Strive, are not collateralized by underlying bitcoin holdings and may be subordinated to senior claims. There are no guarantee of returns liquidity or future performance. The securities referred to herein are neither bank deposits, nor FDIC insured, nor regulated in the same way, and do not have the same regulatory and other protections as bank accounts, money market funds, treasuries, or similar investments and as a result may not be comparable investments. Current trading prices and effective yields may vary, current rates are not indicative of future rates, and in some cases rates are subject to frequent adjustments and may be significantly lower than discussed herein. Cash dividends are not guaranteed. In some cases, dividends have not been paid and may not be paid in the future. Ownership of securities referred to in herein does not confer ownership in the underlying assets, including bitcoin. -
đ§ MSTR True North episode 54:
A deep dive into Bitcoinâs drawdown, macro liquidity, and why this cycle differs. We break down capital structure, leverage myths, margin-call fears, treasury concentration, short-risk asymmetry, and how convex balance sheets create explosive upside.
đď¸ As of this recording, 2/4/26, Strategy's (MSTR) performance: Open: $120.25 Close: $129.09 Volume: 23.8M Shares mNAV: ~1.03 Market Cap: ~$38.9B U.S. Market Cap Ranking: BTC: 713,502
âąď¸ TIMESTAMPS & INSIGHTS:
00:00:00 - Intro agenda framing: NFA context and True North overview
00:03:38 - Bitcoin market drawdown: 42 percent decline framing
00:09:23 - Proof of reserves debate: Custody transparency and risk
00:12:39 - Macro framework setup: Rates liquidity and context
00:15:10 - Macro regime comparison: Liquidity rising versus 2022 contraction
00:18:02 - MSTR market dynamics: Equity pressure and hedging behavior
00:20:00 - Institutional market lens: Event context and capital markets views
00:26:25 - Margin call misconceptions: Liquidity versus leverage reality
00:28:41 - Capital structure deep dive: Balance sheet leverage and FUD breakdown
0:35:35 - Accretion and convexity mechanics: Bitcoin per share and upside asymmetry
00:41:12 - Capital model transition: Converts replaced by preferred equity
00:43:12 - Regulatory and stablecoin shifts: TradFi integration
00:46:04 - Bitcoin treasury model: Balance sheet-first companies
00:51:07 - Treasury concentration risk: Dominant holder analysis
00:55:04 - Bitcoin scarcity math: Rule of 72 framework
00:57:25 - Coverage framework reset: Net capital versus leverage fear
01:05:29 - Capital stack hierarchy: Senior debt preferred and equity
01:10:08 - Converts versus common equity: Dilution and coverage math
01:13:33 - Upcoming earnings call: What to watch and why it matters
01:20:49 - Balance sheet resilience: Liquidity runway and no margin calls
01:27:45 - Treasury concentration and survivability: Why failures donât matter
01:32:38 - Treasury concentration math: Scale dominance and systemic impact
01:35:41 - Bitcoin technical distributions: Wallet structure and custody flows
01:41:14 - Short risk asymmetry: Explosive upside and forced covering
01:42:50 - Balance sheet endgame: Bitcoin as reserve asset
01:45:08 - Final thoughts from the team
Be part of the True North In-Side Event experience. Tickets available here: đ https://luma.com/tnb4c26
Strategy World sign-up: https://www.strategysoftware.com/world26/register
Use discount code TrueNorth for 20% off your registrationâjust a little bonus for our True North community.
MSTR TRUE NORTH LINKS:
True North Website: https://www.mstrtruenorth.com
X: https://x.com/MSTRTrueNorth
đ MERCH: https://thehodlshop.com/collections/true-north
Youtube: @MSTRTrueNorth
MSTR Links: https://www.mstr-tracker.com https://saylortracker.com/ https://robinhood.com/us/en/stocks/MSTR/ * https://www.strategy.com/
Disclaimer: The content in this video is for informational and educational purposes only and should not be considered financial advice. We are not financial advisors, and you should consult with a qualified professional before making any financial decisions. All investments involve risks, and you are responsible for your own decisions.
⢠True North does not intend for anything herein to be considered an offer or sale of any securities, including those of Strive. True North encourages listeners to consult with their tax and investment advisors. Additional information on any securities or issuers referenced herein can be found in such issuersâ filings with the Securities and Exchange Commission (âSECâ), including any registration statements, prospectuses and prospectus supplements for each issuersâ securities. Listeners should read such documents and other documents incorporated by reference therein or that such issuer has filed with the SEC for more complete information. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov.
Any securities referred to herein, including those of True Northâs parent Strive, are not collateralized by underlying bitcoin holdings and may be subordinated to senior claims. There are no guarantee of returns liquidity or future performance. The securities referred to herein are neither bank deposits, nor FDIC insured, nor regulated in the same way, and do not have the same regulatory and other protections as bank accounts, money market funds, treasuries, or similar investments and as a result may not be comparable investments. Current trading prices and effective yields may vary, current rates are not indicative of future rates, and in some cases rates are subject to frequent adjustments and may be significantly lower than discussed herein. Cash dividends are not guaranteed. In some cases, dividends have not been paid and may not be paid in the future. Ownership of securities referred to in herein does not confer ownership in the underlying assets, including bitcoin. -
đ§ MSTR True North episode 53:
The group does a deep dive into Bitcoin credit risk, preferred equity, leverage, and mNAV. Covers MSTR balance sheet math, metals vs Bitcoin flows, Tether reserves, credit models, macro signals, liquidity, and risk/reward across cycles.
đď¸ As of this recording, 1/28/26, Strategy's (MSTR) performance: Open: $164.45 Close: $158.45 Volume: 14.08M Shares mNAV: 0.91 Market Cap: $57.70B U.S. Market Cap Ranking: ~#200 BTC: 712,647
âąď¸ TIMESTAMPS & INSIGHTS: 00:00:00 - Intro: NFA agenda and True North overview
00:03:38 - Credit risk overview: Metals mania and risk framing
00:06:34 - Preferred equity dynamics: Issuance demand and mNAV behavior
00:10:53 - Risk-off credit rotation: Stress testing yield products
00:13:30 - MSTR balance sheet leverage: Assets debt and pref math
00:17:15 - Macro incentives outlook: Election liquidity tailwinds
00:18:25 - True North Vegas event: Digital credit and macro agenda
00:23:41 - Metals market structure: Silver surge and physical premiums
00:31:02 - Tether reserve strategy: Gold and Bitcoin accumulation
00:34:22 - Bitcoin adoption curve: Capital rotation mechanics
00:37:05 - Sovereign risk signals: Yen and risk free rates
00:40:55 - Gold revaluation theory: Bitcoin reserve funding idea
00:44:03 - Algorithmic digital credit: Machines prefer native assets
00:49:32 - Bitcoin as AI hedge: Passive exposure to innovation
00:54:02 - Risk reward framing: Digital convenience tradeoffs
00:58:35 - Preferred equity modeling: Amplification risk analysis
01:03:01 - mNAV downside math: Collateral threshold scenarios
01:07:02 - Macaulay duration focus: Dividend obligation stress
01:12:07 - Institutional underwriting: Capital absorbs Bitcoin risk
01:15:52 - STRC drawdown case: Yield spikes create opportunity
01:22:16 - Bitcoin earnings model: Interest coverage framework
01:27:00 - High amplification scenario: USD reserves versus returns
01:32:47 - Cash reserve signaling: Ratings driven capital buffers
01:39:18 - Financial engineering example: Real estate leverage analogy
01:43:50 - Digital credit parity: Comparing high yield debt
01:48:05 - Fair value accounting: Bitcoin treasury volatility optics
01:53:44 - Final thoughts: Roundtable final takes
Be part of the True North In-Side Event experience.
Tickets available here: đ https://luma.com/tnb4c26
Strategy World sign-up: https://www.strategysoftware.com/world26/register
Use discount code TrueNorth for 20% off your registrationâjust a little bonus for our True North community.
MSTR TRUE NORTH LINKS:
True North Website: https://www.mstrtruenorth.com
X: https://x.com/MSTRTrueNorth
đ MERCH: https://thehodlshop.com/collections/true-north
Youtube: @MSTRTrueNorth
MSTR Links: https://www.mstr-tracker.com https://saylortracker.com/ https://robinhood.com/us/en/stocks/MSTR/ https://www.strategy.com/
Disclaimer: The content in this video is for informational and educational purposes only and should not be considered financial advice. We are not financial advisors, and you should consult with a qualified professional before making any financial decisions. All investments involve risks, and you are responsible for your own decisions.
⢠True North does not intend for anything herein to be considered an offer or sale of any securities, including those of Strive. True North encourages listeners to consult with their tax and investment advisors. Additional information on any securities or issuers referenced herein can be found in such issuersâ filings with the Securities and Exchange Commission (âSECâ), including any registration statements, prospectuses and prospectus supplements for each issuersâ securities. Listeners should read such documents and other documents incorporated by reference therein or that such issuer has filed with the SEC for more complete information. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov.
Any securities referred to herein, including those of True Northâs parent Strive, are not collateralized by underlying bitcoin holdings and may be subordinated to senior claims. There are no guarantee of returns liquidity or future performance. The securities referred to herein are neither bank deposits, nor FDIC insured, nor regulated in the same way, and do not have the same regulatory and other protections as bank accounts, money market funds, treasuries, or similar investments and as a result may not be comparable investments. Current trading prices and effective yields may vary, current rates are not indicative of future rates, and in some cases rates are subject to frequent adjustments and may be significantly lower than discussed herein. Cash dividends are not guaranteed. In some cases, dividends have not been paid and may not be paid in the future. Ownership of securities referred to in herein does not confer ownership in the underlying assets, including bitcoin. -
đ§ MSTR True North episode 52: The crew discusses Bitcoin, digital credit, and MSTRâs capital structure. Tune in to hear analysis on leverage, mNAV, yield curve control and macro deficits, plus Ray Dalioâs gold vs Bitcoin view and why credit drives demand.
đď¸ As of this recording, 1/21/26, Strategy's (MSTR) performance: Open: $161.27 Close: $163.81 Volume: 18,440,820 Shares mNAV: 1.07 Market Cap: $54.09B U.S. Market Cap Ranking: #201 BTC: 709,715
âąď¸ TIMESTAMPS & INSIGHTS:
00:00:00 - Intro: NFA, agenda and True North overview
00:02:09 - Stretch price behavior: Volatility compression versus Bitcoin
00:04:18 - Balance sheet strategy: 1x mNAV and ATM expansion logic
00:06:49 - Capital structure model: Bitcoin, equity, credit flywheel
00:09:43 - Yield curve control: Variable dividend preferred mechanics
00:11:07 - Supply discipline approach: Peg defense and issuance limits
00:13:30 - Rate cut asymmetry: Falling rates boost credit spread
00:15:27 - TN event: join the crew in Las Vegas
00:16:51 - Fiscal dominance reality: Structural US deficit regime
00:20:05 - Monetary financing loop: Deficits force money creation
00:23:10 - Debt compounding risk: Interest burden and debasement cycle
00:26:46 - Product market fit: Stretch outperforming other credit tools
00:29:37 - Fiscal responsibility debate: Fed, deficits, real rate risk
00:32:17 - Bitcoin-backed credit thesis: Alternative to sovereign bonds
00:34:10 - Capital raise capacity: ATM runway and mNAV leverage
00:36:33 - mNAV leverage durability: Dividend funding in bear markets
00:38:17 - Global macro signal: Japan rates and carry trade unwind
00:43:34 - Generational capital shift: Exiting legacy financial assets
00:45:33 - Ray Dalio perspective: Bitcoin versus gold debate
00:48:45 - Macro landing scenarios: Debasement versus crisis outcomes
00:53:00 - Bitcoin moat math: Relative ownership and scarcity
00:56:17 - Convert dilution dynamics: Delta hedging fade thesis
00:57:06 - Bull case modeling: Million Bitcoin accumulation path
00:59:30 - Long-term supply capture: 2035 Bitcoin ownership projection
01:03:01 - MNAV upside bounds: Convert structure constraints
01:04:30 - Final thoughts
Be part of the True North In-Side Event experience. Tickets available here: đ https://luma.com/tnb4c26
Strategy World sign-up: https://www.strategysoftware.com/world26/register
Use discount code TrueNorth for 20% off your registrationâjust a little bonus for our True North community.
MSTR TRUE NORTH LINKS:
True North Website: https://www.mstrtruenorth.com
X: https://x.com/MSTRTrueNorth
đ MERCH: https://thehodlshop.com/collections/true-north
Youtube: @MSTRTrueNorth
MSTR Links: https://www.mstr-tracker.com https://saylortracker.com/ https://robinhood.com/us/en/stocks/MSTR/ * https://www.strategy.com/
Disclaimer: The content in this video is for informational and educational purposes only and should not be considered financial advice. We are not financial advisors, and you should consult with a qualified professional before making any financial decisions. All investments involve risks, and you are responsible for your own decisions.
⢠True North does not intend for anything herein to be considered an offer or sale of any securities, including those of Strive. True North encourages listeners to consult with their tax and investment advisors. Additional information on any securities or issuers referenced herein can be found in such issuersâ filings with the Securities and Exchange Commission (âSECâ), including any registration statements, prospectuses and prospectus supplements for each issuersâ securities. Listeners should read such documents and other documents incorporated by reference therein or that such issuer has filed with the SEC for more complete information. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov.
Any securities referred to herein, including those of True Northâs parent Strive, are not collateralized by underlying bitcoin holdings and may be subordinated to senior claims. There are no guarantee of returns liquidity or future performance. The securities referred to herein are neither bank deposits, nor FDIC insured, nor regulated in the same way, and do not have the same regulatory and other protections as bank accounts, money market funds, treasuries, or similar investments and as a result may not be comparable investments. Current trading prices and effective yields may vary, current rates are not indicative of future rates, and in some cases rates are subject to frequent adjustments and may be significantly lower than discussed herein. Cash dividends are not guaranteed. In some cases, dividends have not been paid and may not be paid in the future. Ownership of securities referred to in herein does not confer ownership in the underlying assets, including bitcoin. -
đ§ MSTR True North episode 51: đď¸ As of this recording, 1/14/26, Strategy's (MSTR) performance:
Open: $178.64Close: $179.33Volume: 40,257,000 SharesmNAV: 1.07Market Cap: $57.32BU.S. Market Cap Ranking: #192BTC: 687,410âąď¸ TIMESTAMPS & INSIGHTS:
00:00:00 - Intro: NFA, agenda and True North overview00:04:50 - Capital Structure Overview: MSTR and STRC balance sheet changes00:07:27 - Leverage & mNAV Dynamics: Common and preferred equity expansion00:10:33 - Digital Credit Impact: Bid creation on Bitcoin price00:16:34 - Stretch Interest Rate Effects: Potential rate hikes and market response00:17:40 - Symmetry Test Explained: Raising equity at positive mNAV00:23:31 - Capital Raising Strategy: Common and preferred equity interplayBe part of the True North In-Side Event experience. Tickets available here: đ https://luma.com/tnb4c26 Strategy World sign-up: https://www.strategysoftware.com/worl⌠Use discount code TrueNorth for 20% off your registrationâjust a little bonus for our True North community. MSTR TRUE NORTH LINKS:True North Website: https://www.mstrtruenorth.comX: https://x.com/MSTRTrueNorthđ MERCH: https://thehodlshop.com/collections/t...Youtube: @MSTRTrueNorthMSTR Links:
https://www.mstr-tracker.comhttps://saylortracker.com/https://robinhood.com/us/en/stocks/MSTR/https://www.strategy.com/Disclaimer: The content in this video is for informational and educational purposes only and should not be considered financial advice. We are not financial advisors, and you should consult with a qualified professional before making any financial decisions. All investments involve risks, and you are responsible for your own decisions.
⢠True North does not intend for anything herein to be considered an offer or sale of any securities, including those of Strive. True North encourages listeners to consult with their tax and investment advisors. Additional information on any securities or issuers referenced herein can be found in such issuersâ filings with the Securities and Exchange Commission (âSECâ), including any registration statements, prospectuses and prospectus supplements for each issuersâ securities. Listeners should read such documents and other documents incorporated by reference therein or that such issuer has filed with the SEC for more complete information. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov.
Any securities referred to herein, including those of True Northâs parent Strive, are not collateralized by underlying bitcoin holdings and may be subordinated to senior claims. There are no guarantee of returns liquidity or future performance. The securities referred to herein are neither bank deposits, nor FDIC insured, nor regulated in the same way, and do not have the same regulatory and other protections as bank accounts, money market funds, treasuries, or similar investments and as a result may not be comparable investments. Current trading prices and effective yields may vary, current rates are not indicative of future rates, and in some cases rates are subject to frequent adjustments and may be significantly lower than discussed herein. Cash dividends are not guaranteed. In some cases, dividends have not been paid and may not be paid in the future. Ownership of securities referred to in herein does not confer ownership in the underlying assets, including bitcoin. - Laat meer zien
