Agenda:

BTC Relative Market Analysis

Coffeezilla x Jeff Walton Debate

Strategy Q and A

Other Topics

Thank you to our Sponsors:

BitGo: https://www.bitgo.com/

SALT: https://saltlending.com/

Abundant Mines: https://abundantmines.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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Agenda:

Have questions you want covered in the livestream? Ask them here: https://tnorth.com/ask/

Check out our upcoming live event in Oregon and join us in person! https://tnorth.com/events/bitcoin-for-business-2026/

Thank you to our Sponsors:

BitGo: https://www.bitgo.com/

SALT: https://saltlending.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.

Agenda:

Semi-Monthly Dividends

Income Statement vs. Balance Sheet

STRC Mainly Retail?

Equity Story

Bottom Signals

Have questions you want answered on the stream? Ask them here: https://tnorth.com/ask

Thank you to our Sponsors:

BitGo: https://www.bitgo.com/

SALT: https://saltlending.com/

MSTR Links:

* https://www.mstr-tracker.com

* https://saylortracker.com/

* https://robinhood.com/us/en/stocks/MSTR/

* https://www.strategy.com/

* https://strc.live/

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.

🎛️ As of this recording, 4/15/26, Strategy's (MSTR) performance:

* Open: $139.75

* Close: $143.54

* Volume: 13.9M Shares

* mNAV: ~1.15

* Market Cap: ~ $47.9B

* BTC: 780,897

⏱️ TIMESTAMPS & INSIGHTS:

* 00:00:00 - Intro: TN trailer and not financial advice

* 00:03:33 - True North Agenda: Purpose, hosts, and show structure

* 00:05:19 - Team First Takes: Macro outlook, Bitcoin, and sentiment

* 00:13:59 - STRC Arbitrage Setup: Dividend pricing inefficiency explained

* 00:18:08 - Capital Scale Visualized: Billion-scale liquidity perspective

* 00:19:23 - Capital Markets Shift: New credit instruments driving demand

* 00:25:42 - Balance Sheet Flywheel: Capital infrastructure capturing flows

* 00:27:15 - STRC Demand Growth: Institutional scale and liquidity expansion

* 00:32:36 - Yield Dislocation Signals: Pricing inefficiencies and buyer dominance

* 00:34:20 - Credit Market Expansion: Digital credit targeting large TAM

* 00:36:42 - Inflation Mechanics Breakdown: Monetary expansion and asset impact

* 00:37:28 - Debasement Math Framework: Rule of 72 purchasing erosion

* 00:41:43 - Leverage Risk Analysis: Balance sheets, collateral, downside risk

* 00:47:48 - Issuance Constraints Explained: Collateral limits and leverage capacity

* 00:52:00 - Bitcoin Price Impact: Capital deployment influencing market structure

* 00:53:17 - mNAV Allocation Strategy: Dilution timing and capital efficiency

* 00:57:15 - Rate Regime Dynamics: Interest rates shaping capital allocation

* 00:58:15 - Financial Repression Setup: Policy pressure driving risk assets

* 01:01:55 - Instrument Pricing Inefficiency: Yield distortions and gaps

* 01:05:01 - Market Structure Signals: Liquidity shifts and capital rotation

* 01:07:24 - Options Strategy Framework: Yield capture, leverage, positioning dynamics

* 01:13:14 - Capital Allocation Deep Dive: mNAV, BTC per share, scaling strategy

* 01:19:33 - Issuance Scaling Dynamics: Capital deployment and BTC accumulation pace

* 01:23:09 - Capital Structure Mechanics: Issuance layering and efficiency gains

* 01:24:44 - Media Narrative Debate: Coffeezilla, Bankless, and risk framing

* 01:26:42 - Soleil's Final Thoughts

* 01:29:05 - Mason's Final Thoughts

* 01:33:29 - Grain's final thoughts

* 01:38:38 - Dan's Final Thoughts

* 01:39:55 - Jeff's Final Thoughts

Thank you to our Sponsors:

BitGo: https://www.bitgo.com/

Horizon: https://joinhorizon.com/?ref=TRUENORTH

SALT: https://saltlending.com/

MSTR Links:

* https://www.mstr-tracker.com

* https://saylortracker.com/

* https://robinhood.com/us/en/stocks/MSTR/

* https://www.strategy.com/

* https://strc.live/

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.

Agenda:

Thank you to our Sponsors:

BitGo: https://www.bitgo.com/

Horizon: https://joinhorizon.com/?ref=TRUENORTH

Have questions? Ask the team here: https://tnorth.com/ask/

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.

🧭 True North episode 61: Bitcoin meets capital markets as investors explore digital credit, leverage, and macro risk. From MSTR aalysis to portfolio construction, the discussion breaks down adoption, liquidity dynamics, and why Bitcoin is reshaping capital allocation.

🎛️ As of this recording, 4/1/26, Strategy's (MSTR) performance:

Have questions you want covered in the livestream? Ask them here: https://tnorth.com/ask/

⏱️ TIMESTAMPS & INSIGHTS:

Check out our upcoming live events and join us in person! https://tnorth.com/events/

Thank you to our Sponsors:

BitGo: https://www.bitgo.com/

Horizon: https://joinhorizon.com/?ref=TRUENORTH

TRUE NORTH LINKS:

🧭 True North episode 60:

🎛️ As of this recording, 3/25/26, Strategy's (MSTR) performance:

* Open: $144.99

* Close: $140.40

* Volume: 18.7M Shares

* mNAV: ~1.19

* Market Cap: ~ $48.8 and 3B

* BTC: 762,099

⏱️ TIMESTAMPS & INSIGHTS:

* 00:00:00 - Intro: Podcast setup and discussion scope

* 00:02:18 - Market Events Overview: Macro news and volatility drivers

* 00:04:52 - Information Warfare Shift: Social media distorts market signals

* 00:06:50 - Geopolitical Risk Premium: Conflict uncertainty drives Bitcoin demand

* 00:08:58 - MSTR Capital Strategy: ATM programs and capital structure expansion

* 00:12:52 - STRC Arbitrage Window: Record date flows and liquidity dynamics

* 00:17:50 - Options Hedging Framework: Intraweek options and credit hedging strategies

* 00:20:28 - Carry Trade Risks: Dividend timing and execution risk dynamics

* 00:26:04 - Yield Stability Thesis: Dividend demand and arbitrage compression

* 00:31:35 - Private Credit Breakdown: Liquidity stress and structural cracks

* 00:37:13 - Generational Capital Shift: Wealth transfer and investment behavior

* 00:39:15 - Real Estate Thesis: Land value, credit, and AI impact

* 00:50:20 - Credit Rating Debate: Bitcoin valuation and rating implications

* 00:54:10 - Cost of Capital Dynamics: Yield thresholds and capital allocation shifts

* 00:58:21 - Bitcoin Re-Rating Catalyst: Credit upgrade and S&P inclusion implications

* 01:02:03 - Digital Credit Strategy: Revenue model and business pivot decisions

* 01:06:19 - Market Perception Shift: Bitcoin legitimacy and institutional framing

* 01:09:09 - Bitcoin Legitimacy Curve: Institutional adoption and risk reframing

* 01:15:10 - Digital Credit Platform: Tools, models, and research ecosystem

* 01:20:47 - AI Compute Economics: Monetization models and infrastructure risks

* 01:35:04 - AI Infrastructure Evolution: Local models and compute commoditization

* 01:38:50 - Local AI Breakthrough: Compression enables on-device intelligence

* 01:46:55 - Digital Capital Future: Bitcoin, AI, and credit convergence

* 01:54:39 - Closing thoughts

Powered by:

Strive: https://Strive.com

True North Website: https://www.tnorth.com

Thank you to our Sponsors:

BitGo: https://www.bitgo.com/

Horizon: https://joinhorizon.com/?ref=TRUENORTH

TRUE NORTH LINKS:

* True North Website: https://tnorth.com

* X: https://x.com/MSTRTrueNorth

* 🛒 MERCH: https://thehodlshop.com/collections/true-north

* 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.

🧭 True North episode 59: Explore how institutional flows, leverage, and digital credit are reshaping markets, driving Bitcoin demand, and setting up a massive capital reallocation with the True North team.

🎛️ As of this recording, 3/18/26, Strategy's (MSTR) performance:

⏱️ TIMESTAMPS & INSIGHTS:

Thank you to our Sponsors:

BitGo: https://www.bitgo.com/

Horizon: https://joinhorizon.com/?ref=TRUENORTH

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.

• 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.

🧭 MSTR True North episode 58: A deep dive into Bitcoin’s evolving capital markets, covering digital credit, private credit risks, institutional adoption, and the financial innovations shaping the future of money, markets, and technology.

🎛️ As of this recording, 3/11/26, Strategy's (MSTR) performance:

⏱️ TIMESTAMPS & INSIGHTS:

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.

• 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.

🧭 MSTR True North episode 57:

🎛️ As of this recording, 3/5/26, Strategy's (MSTR) performance:

* Open: $143.83

* Close: $146.44

* Volume: 37.4M Shares

* mNAV: ~1.22

* Market Cap: ~ $48.9B

* U.S. Market Cap Ranking: ~#220

* BTC: 720,737

⏱️ TIMESTAMPS & INSIGHTS:

* 00:00:00 - Intro agenda framing: NFA context and True North overview

* 00:02:50 - True North Event Insights: Global investors discuss Bitcoin credit innovation

* 00:10:20 - Bitcoin Gravity Trade: Macro capital flows toward BTC strategies

* 00:14:17 - Bitcoin Credit Flywheel: STRC demand potentially driving $1M BTC

* 00:17:01 - Capital Structure Strategy: Bitcoin buybacks and amplification dynamics

* 00:23:48 - Capital Stack Instruments: Strike and STRD positioning within Strategy credit structure

* 00:28:10 - Credit Risk Mispricing: Markets misunderstanding STRC capital stack

* 00:30:18 - Geopolitical Macro Signals: Conflict uncertainty and capital deployment

* 00:35:34 - Policy Catalysts: Regulatory shifts supporting Bitcoin adoption

* 00:39:00 - MSTR STRC Trading Pair: Rotating equity and credit exposure

* 00:42:00 - Corporate Treasury Strategy: Companies adopting STRC as high-yield cash reserve

* 00:48:25 - Bond Market Disruption: Digital credit liquidity vs traditional prefs

* 00:55:49 - Private Credit Trap: Illiquidity risk and locked capital

* 00:59:31 - Bitcoin Analytics Tools: STRC dashboards and yield calculators

* 01:03:46 - AI Risk Pricing: Machines reallocating capital toward digital credit

* 01:10:21 - Corporate Bitcoin Treasuries: BTC balance sheets improving credit access

* 01:15:16 - Institutional STRC Demand: Desks and buyers driving issuance

* 01:16:57 - Downside Protection Trade: STRC put strategy for asymmetric yield

* 01:21:45 - Digital Equity Model: Bitcoin capital vs credit volatility transfer

* 01:25:05 - Market Cycle Timing: Navigating bull and bear uncertainty

* 01:28:57 - Perpetual Funding Model: Financing projects with infinite duration capital

* 01:31:55 - Monetary Debasement Hedge: Stretch as non-debasing capital instrument

* 01:35:22 - Institutional Education Gap: Comparing digital credit to legacy bonds

* 01:37:30 - STRC Adoption Curve: Path toward $300B preferred market scale

* 01:40:29 - Credit First Strategy: Saylor prioritizes balance sheet strength

* 01:42:47 - Capital Amplification Engine: Digital credit expanding Bitcoin exposure

* 01:44:28 - Banking Infrastructure Shift: Wall Street adapting to crypto capital

* 01:47:28 - Banking System Pressure: Bitcoin reserves challenging traditional rehypothecation model

* 01:52:02 - Control System Debate: AI, stablecoins, and financial surveillance

MSTR TRUE NORTH LINKS:

* True North Website: https://www.mstrtruenorth.com

* X: https://x.com/MSTRTrueNorth

* 🛒 MERCH: https://thehodlshop.com/collections/true-north

* 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.