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"High Powered Digital Money" | True North Podcast | Ep. 48
🧠MSTR True North episode 48: The crew does a deep dive into Bitcoin markets, macro signals, credit cycles, and capital structure. We break down trend data, EPS thresholds, leverage, mNAV, Fed policy, and why Bitcoin sits at the center of the next liquidity cycle. 🎛️ As of this recording, 12/10/25, Strategy's (MSTR) performance:
⏱️ TIMESTAMPS & INSIGHTS: 00:00:00 - Intro: NFA, agenda and True North overview 00:03:10 - Event Context: Conviction, networking and market backdrop 00:04:42 - Trend Signals: Chart mechanics, death cross and momentum turn 00:08:10 - Higher-Timeframe Structure: Weekly levels, higher lows and trend context 00:09:06 - Multi-Frame Review: Monthly and yearly recovery signals 00:12:12 - EPS Thresholds: Required BTC price for positive earnings 00:14:14 - Survey Momentum: Gauging ATH expectations and sentiment 00:16:38 - Rate Regime Change: Volatility and QE effects 00:18:14 - Supply Crunch Setup: ETF flows and treasury accumulation 00:20:04 - Fed Signals: GDP revisions and future rate cuts 00:22:00 - Productivity Shock: AI-driven deflation and policy response 00:23:57 - Fiscal Strain: Debt path, shutdown risk and tax limits 00:26:19 - Consumer Credit Stress: Debt stacking and inequality 00:29:14 - Tech Concentration: MAG7 dominance and return skew 00:32:45 - Hard Money Hedge: Bitcoin as monetary protection 00:34:57 - Treasury Math: Why printing is structurally required 00:37:39 - Policy Shifts: Pro-crypto Fed leadership probabilities 00:38:36 - Collateral Upgrade: BTC/ETH/USDC for derivatives margin 00:42:08 - Financial Engineering: Reserves, ratings and dividend strategy 00:46:07 - Buyback Mechanics: Supply reduction and accretive impact 00:48:06 - Treasury Strength: Dividend runway and BTC-backed reserves 00:50:07 - Capital Stack: Prefs, converts and liquidation coverage 00:52:05 - Indexing Rebuttal: Why digital treasuries aren’t funds 00:55:51 - Investor Discipline: Fear cycles and recovery patterns 00:57:54 - Reserve Strategy: Cash buffers for extended bear markets 00:59:37 - Debt Spiral: Election-year constraints and forced rate cuts 01:01:47 - Future Prep: Automation risk and asset-based resilience 01:03:10 - Bitcoin Integration: Payments, emerging markets and rails 01:04:20 - Final thoughts: Strategy World networking and key figures Be part of the True North In-Side Event experience. Tickets available here: 👉 https://luma.com/tnb4c26 Strategy World sign-up: https://www.strategysoftware.com/worl… Use discount code TrueNorth for 20% off your registration—just a little bonus for our True North community. MSTR TRUE NORTH LINKS:
MSTR Links:
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.
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By True North Podcast🧠MSTR True North episode 48: The crew does a deep dive into Bitcoin markets, macro signals, credit cycles, and capital structure. We break down trend data, EPS thresholds, leverage, mNAV, Fed policy, and why Bitcoin sits at the center of the next liquidity cycle. 🎛️ As of this recording, 12/10/25, Strategy's (MSTR) performance:
⏱️ TIMESTAMPS & INSIGHTS: 00:00:00 - Intro: NFA, agenda and True North overview 00:03:10 - Event Context: Conviction, networking and market backdrop 00:04:42 - Trend Signals: Chart mechanics, death cross and momentum turn 00:08:10 - Higher-Timeframe Structure: Weekly levels, higher lows and trend context 00:09:06 - Multi-Frame Review: Monthly and yearly recovery signals 00:12:12 - EPS Thresholds: Required BTC price for positive earnings 00:14:14 - Survey Momentum: Gauging ATH expectations and sentiment 00:16:38 - Rate Regime Change: Volatility and QE effects 00:18:14 - Supply Crunch Setup: ETF flows and treasury accumulation 00:20:04 - Fed Signals: GDP revisions and future rate cuts 00:22:00 - Productivity Shock: AI-driven deflation and policy response 00:23:57 - Fiscal Strain: Debt path, shutdown risk and tax limits 00:26:19 - Consumer Credit Stress: Debt stacking and inequality 00:29:14 - Tech Concentration: MAG7 dominance and return skew 00:32:45 - Hard Money Hedge: Bitcoin as monetary protection 00:34:57 - Treasury Math: Why printing is structurally required 00:37:39 - Policy Shifts: Pro-crypto Fed leadership probabilities 00:38:36 - Collateral Upgrade: BTC/ETH/USDC for derivatives margin 00:42:08 - Financial Engineering: Reserves, ratings and dividend strategy 00:46:07 - Buyback Mechanics: Supply reduction and accretive impact 00:48:06 - Treasury Strength: Dividend runway and BTC-backed reserves 00:50:07 - Capital Stack: Prefs, converts and liquidation coverage 00:52:05 - Indexing Rebuttal: Why digital treasuries aren’t funds 00:55:51 - Investor Discipline: Fear cycles and recovery patterns 00:57:54 - Reserve Strategy: Cash buffers for extended bear markets 00:59:37 - Debt Spiral: Election-year constraints and forced rate cuts 01:01:47 - Future Prep: Automation risk and asset-based resilience 01:03:10 - Bitcoin Integration: Payments, emerging markets and rails 01:04:20 - Final thoughts: Strategy World networking and key figures Be part of the True North In-Side Event experience. Tickets available here: 👉 https://luma.com/tnb4c26 Strategy World sign-up: https://www.strategysoftware.com/worl… Use discount code TrueNorth for 20% off your registration—just a little bonus for our True North community. MSTR TRUE NORTH LINKS:
MSTR Links:
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.