May 21, 2025

BTC Opportunity Cost EVERYWHERE | True North Podcast | Ep. 27

2 hours 6 minutes

🧭 MSTR True North episode 27: The crew dives deep into the institutional adoption of Bitcoin globally. Tune in to hear more about MetaPlanet, MSTR, Bitcoin treasuries, market sentiment, and why 2025 could be the breakout year for Bitcoin-aligned equities and cooperative finance. 🎛️ As of this recording, 5/21/25, Strategy's (MSTR) performance:

Open: $415.92

Close: $402.69

Volume: 18,373,500 shares

mNAV: 1.90

Market Cap: $112.11B

U.S. Market Cap Ranking: 85

BTC: 576,230

⏱️ TIMESTAMPS & INSIGHTS:

00:00:00 - The intro: agenda, MetaPlanet buzz, and BTC price discovery

00:04:00 - $BTC/$MSTR outlook: the rise of a decentralized computer network & sentiment challenges

00:08:16 - volatility DNA: options market, leverage in MSTR & trading psychology

00:15:25 - japan bonds: high yields push investors to equities & BTC

00:18:33 - $MTPLF: most shorted stock in JPN and their BTC treasury strategy

00:23:40 - cyber wolf pack: BTC-led corporate coordination and feedback loops

00:28:49 - $BTC cooperation: equity cycles, leverage, and institutional shifts

00:34:56 - mNAV risks: copycats, sentiment metrics, and reflexivity traps

00:44:00 - liquidity: trading volumes of Strategy vs MetaPlanet

00:47:29 - $BTC treasury evolution: BTC value vs growth plays and capital markets access

01:02:05 - $MSTR fundamentals: bitcoin holdings, leverage, and debt strategy

01:08:00 - $STRK deep-dive: yield, convertibility, and comparison to real estate

01:17:28 - yield analysis: $STRK vs property returns and investment risks

01:27:20 - S&P 500 potential: MSTR Q2 earnings, valuation confusion, and market impact

01:35:39 - 2025 outlook: bitcoin treasuries, institutional momentum, and growth trends

01:40:20 - The power of collateral: the transition from selling to borrowing

01:46:05 - $BTC quietly @ ATH: google trends review, institutional interest & strength of the first principles

01:56:00 - Closing thoughts & peaceful portfolios: price discovery and the path to work on your passion

SOCIAL MEDIA:

X: https://x.com/PunterJeff

X: https://x.com/BenWerkman

X: https://x.com/nithusezni

X: https://x.com/TimKotzman

X: https://x.com/Z06Z07

X: https://x.com/Adrian_R_Morris

X: https://x.com/RealTrollstein

X: https://x.com/MasonFoard

X: https://x.com/hillery_dan

X: https://x.com/JBerneburg

X: https://x.com/TheJesseMK

X: https://x.com/thebitcoingal

MSTR TRUE NORTH LINKS:

True North Website: https://tnorth.com

X: https://x.com/MSTRTrueNorth

🛒 MERCH: https://thehodlshop.com/collections/t...

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 issuers’ filings with the Securities and Exchange Commission (“SEC”), including any registration statements, prospectuses and prospectus supplements for each issuers’ 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 North’s 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.

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