From the Bitcoin Treasuries NYC Unconference, Ben Werkman, Chief Investment Officer at Swan Bitcoin, Chaitanya Jain, Bitcoin Strategy Manager at Strategy, and Adrian Morris of True North take the stage to discuss whether operating businesses of Bitcoin Treasury companies are ultimately a differentiator or a distraction. 

- this episode is sponsored by Onramp - $150 in Bitcoin to get your account started.

https://onrampbitcoin.com/

- This episode is sponsored by Stamp Seed. Use the code "Tim15" at check out for 15% off site wide

https://www.stampseed.com/

Disclaimer: NOT FINANCIAL ADVICE - For entertainment purposes only.

Tim Kotzman on X: https://x.com/TimKotzman

Ben Werkman on X: https://x.com/BenWerkman

Chaitanya Jain on X: https://x.com/_ChaitanyaJ

Adrian Morris on X: https://x.com/Adrian_R_Morris

0:00 - Intro

0:30 - Chaitanya Jain on the true measure of success for a Bitcoin Treasury company

5:48 - Adrian Morris on the counterintuitiveness of mNAV 

9:26 - Ben Werkman on the separation of metrics as a strategy grows

15:18 - How should companies communicate about their mNAV with the market?

20:53 - Bitcoin derivatives and applying leverage

#podcast #bitcoin #microstrategy #investing #mstr #btc