Strategy's STRC just crossed $5 billion in AUM — and now it's being tokenized for the 4 billion people who can never open a US brokerage account. At the same time, Morgan Stanley just launched the lowest-fee Bitcoin ETF in the market, threatening to pull billions away from BlackRock's IBIT. The Bitcoin capital stack is being rebuilt outside the US in real time, and the people doing it are on this week's roundtable.
Two weeks ago Capital B became the first publicly listed Bitcoin treasury in Europe to have its shares tokenized on Liquid via Stoker. Three months ago a former Uber exec launched BuckToken — a dollar savings coin collateralized by Strategy's STRC paying 10% yield to non-US holders. These are not unrelated stories. This is the Bitcoin capital stack building and scaling outside the US, reassembling itself on Bitcoin rails for the rest of the world.
Why BuckToken — a single token starting at $1 that accrues to $1.10 over one year — solves the savings problem for 4 billion people without US brokerage access
How Stokr tokenized Capital B shares on Liquid and why Bitcoin treasury companies trading against BTC pairs is the next unlock
Why Morgan Stanley's new Bitcoin ETF with 14 basis point fees could be as important as all other Bitcoin ETFs combined — and why BlackRock will have to respond
How STRC hit $5 billion in AUM faster than most consumer product launches in history
Why the tokenization of STRC happened faster than any traditional financial asset tokenization — and what that signals
Why Alexandre says digital credit is the answer for 90% of the population and 90% of corporations
How tax loss harvesting between Bitcoin ETFs could drive massive capital rotation into Morgan Stanley's new fund
Why Arnab sees a trillion dollar market in Bitcoin derivatives and structured products settling against stablecoins
The macro case: ceasefire in Iran, Bitcoin at $70K, and why Alexandre says the bottom is in in gold terms
00:00 Cold Open
01:57 State of the Bitcoin Market & Geopolitical Winds
06:32 Tokenization and Its Impact on Bitcoin & Equities
11:18 The Rise of Digital Credit Innovation & BuckToken
13:28 STRC: Can Saylor Harvest All Of The Demand?
15:25 A Bitcoin-Backed Tokenized Future?
26:22 Morgan Stanley's ETF MSBT & What It Means For BTC
36:12 Future of Digital Credit and Global Market Expansion
38:47 Who's Really Buying STRC?
41:25 Digital Credit's Affect On Treasury Company Risk Ratings
46:43 Bullish Short-Term Signals
Dan Hillery — Co-founder of BuckToken (buck.io), former Uber exec and Bitcoin digital credit builder.
Follow Dan at https://twitter.com/@hillery_dan
Arnab Naskar — Co-founder of Stokr, Bitcoin asset tokenization platform with $1B+ in tokenized assets.
Follow Arnab at https://twitter.com/@Arnab_Naskarr
Alexandre Laizet — Board Director of Bitcoin Strategy at Capital B, Europe's Bitcoin treasury company.
Follow Alexandre at https://twitter.com/@AlexandreLaizet
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Bitcoin Treasuries with Tyler Rowe interviews executives, investors, and industry leaders navigating the Bitcoin treasury revolution.
This podcast is for informational purposes only. Not financial advice. Always do your own research.
