Description: In this episode, Nik answers questions from Demian about the structural drivers behind Bitcoin’s strength near all-time highs. He explains how tightening credit spreads on Strategy’s Bitcoin-backed debt reflect growing investor confidence, and why capital is flowing into Bitcoin through corporate capital structures and yield-bearing instruments. The discussion covers index inclusion, passive portfolio flows, and how Bitcoin exposure is increasingly being built into traditional financial products. Nik also examines Treasury market conditions, real yields, and why Bitcoin depends on credit stability—not chaos—for its next leg higher.

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