True North Podcast

Power Of Collateral | True North Podcast | Ep. 30

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🧭 MSTR True North episode 30: in this episode the crew dives deep into leverage, MSTR’s balance sheet, BTC-backed yield, and market psychology—plus how treasury companies are evolving and why Bitcoin as collateral changes everything. 🎛️ As of this recording, 6/18/25, Strategy's (MSTR) performance:

  • Open: $371.43
  • Close: $369.03
  • Volume: 9,200,500 shares
  • mNAV: 1.85
  • Market Cap: $103.17B
  • U.S. Market Cap Ranking: 97
  • BTC: 592,100
    • ⏱️ TIMESTAMPS & INSIGHTS:
  • 00:00:00 - Que the music
  • 00:01:12 - Episode 30 agenda
  • 00:05:44 - Leverage ratio explained: debt, equity & BTC collateral
  • 00:10:12 - Trader psychology: cost basis bias, tax impact & conviction
  • 00:15:09 - Sentiment analysis: zooming out amid noise & opportunities in BTC space
  • 00:22:36 - Trading vs investing: understanding the players at the table & OTC tickers
  • 00:28:46 - Safe havens & bear markets: strategy resilience & the power of scale
  • 00:31:43 - Chanos short analysis: misunderstanding the playbook & Over-collateralization 101
  • 00:38:18 - Bitcoin as the new risk-free asset: fixed income demand is the signal
  • 00:45:13 - Banking of the future: how Strategy’s products are redesigning the future banking system
  • 00:47:49 - Evaluating BTC treasury companies: identifying survivors vs hype
  • 01:01:51 - Fed, interest rates & impact on BTC/MSTR: how this impacts BTC torque
  • 01:06:50 - New investment products: ETFs, diversified exposure & position sizing
  • 01:17:20 - $MSTY & $WNTR: what is the craze? Solei competition with MSTY update
  • 01:25:35 - Common share ATM: BTC yield using the preferred’s
  • 01:29:16 - Q2 countdown: S&P 500 inclusion, bewilderment intensifying and EPS
  • 01:27:22 - Valuation of BTC-backed companies
  • 01:37:39 - BTC vs MSTR: collateral, dividends, scale
  • 01:45:45 - Zero carry cost: low cap ex with large appreciation
  • 01:48:15 - Tim in Prague: home of the largest castle complex in the world & BTC Prague
  • 01:51:00 - Final thoughts: we’re going higher
    • 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://www.mstrtruenorth.com
  • X: https://x.com/MSTRTrueNorth
  • đź›’ 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.
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