True North Podcast

By True North Podcast

MSTR True North is a supergroup investment club charting the edge of the new financial frontier. Where Bitcoin, Strategy ($MSTR), and macro conviction converge, we dig into asymmetric bets, dissect

... more

Download on the App Store

Download on the App Store

Get it on Google Play

FAQs about True North Podcast:

How many episodes does True North Podcast have?

The podcast currently has 73 episodes available.

True North Podcast episodes:

July 16, 2025Inject The Bitcoin Volatility Virus | True North Podcast | Ep. 33
🧭 MSTR True North episode 33: The crew discusses how MSTR is transforming corporate finance by holding permeant, digital capital on the balqnce sheet. This episode breaks down Strategy’s evolving playbook, institutional adoption, leverage, and why Bitcoin is becoming oxygen for forward-looking companies. 🎛️ As of this recording, 7/16/25, Strategy's (MSTR) performance:
Open: $448.31
Close: $455.90
Volume: 10,575,450 shares
mNAV: 2.01
Market Cap: ~$128.52B
U.S. Market Cap Ranking: 80
BTC: 601,550
⏱️ TIMESTAMPS & INSIGHTS:
00:00:00 - Cue the music
00:01:10 - Agenda & True North mission
00:04:23 - Surrending capital: using risk to attract capital, accelerate innovation and reset TradFi
00:12:35 - BTC adoption: how few companies hold Bitcoin on their treasury today
00:14:44 - Winter?: Saylor’s conviction that the seasons are over
00:16:39 - Institutional growth: big money reshaping Bitcoin markets
00:23:05 - Optionality fueled by collateral : $670B buybacks signal stagnation, not strength
00:27:30 - $STRF narrative & mNAV justification: is Chanos better off buying Strife
00:32:03 - MSTR leverage: how Bitcoin boosts corporate equity value
00:34:30 - Redefining valuation frameworks: breaking down Phong Le’s recent commentary on valuation
00:37:26 - Q2 earnings: strategy’s $11.1B profit and how thr market might digest the news
00:47:59 - Leverage update: health of the balance sheet and financial strength built on BTC
00:55:00 - MSTR’s Financial vehicles: preferreds, converts, and innovation in products
01:03:20 - Capital stack: why Strife leads MSTR’s structure
01:05:54 - Bond pricing: convertible arbitrage and pricing dynamics
01:11:58 - Dilution effects: how convertibles vs. preferreds impact share count
01:17:21 - Perpetual preferreds: why they work with Bitcoin’s nature
01:22:22 - Raising capital: market cycles and creative deal-making
01:28:30 - pricing opportunity: weekly volume analysis and identifying pricing discrepancies
• 01:34:51 - valuation model: projecting multi-trillion dollar companies • 01:40:31 - Secured debt: btc-backed preferreds vs. junk bonds
01:43:04 - Index inclusion: analysis and catalyst for price appreciation
• 01:49:56 - $MSTR vs $PLTR: looking at the numbers and EPS bewilderment • 01:58:54 - Impact of BTC on job market: capitalizing on sound capital and AI is transforming professions globally • 02:01:20 - Q2 earnings call: True North coverage plan • 02:02:15 - Moon math: Jeff’s path to $MSTR all-time highs
02:05:30 - Final thoughts
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
🛒 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.
...more
2h 11min
July 09, 2025Rewiring The Credit Curve | True North Podcast | Ep. 32
🧭 MSTR True North episode 32: The crew does a deep dive into Strategy’s capital stack, leverage, and preferred instruments like Strike, Strife and Stride—exploring risk, credit, and how institutional capital is recognizing the tue credit worthiness of a treasury powered by Bitcoin. 🎛️ As of this recording, 7/9/25, Strategy's (MSTR) performance:
Open: $401.60
Close: $415.41
Volume: 13,065,370 shares
mNAV: 1.96
Market Cap: ~$116B
U.S. Market Cap Ranking: 93
BTC: 597,325
⏱️ TIMESTAMPS & INSIGHTS:
00:00:00 - cue the music: reggae vibes
00:01:07 - agenda rundown
00:03:51 - bitcoin leverage: MSTR’s capital stack and strategic asset breakdown
00:08:55- law of large numbers: market dynamics and shifts in the playbook globally
00:16:50 - EOY BTC holdings predictions: reflecting on initial predictions & re-evaluating possibilities
00:19:05 - S&P 500 catalyst: capital surges and strategic timing with indexes
00:25:05 - credit hierarchy: analysis of the capital stack & the creation of the credit curve
00:27:48 - risk premium: preferreds closing in on the risk-free rate
00:32:10 - pricing curve: preferreds moving from distressed to fair value
00:40:44 - strike convertibility: upside, dividends, and embedded call options
00:49:11 - liquidation logic: how claim seniority impacts bitcoin instrument value
00:56:10 - investor psychology: simplicity and yield driving adoption of new tools
01:03:45 - capital stack math: bitcoin CAGR vs. risk-free rate over time
01:09:15 - software business hiring reflex: why bitcoin-focused firms attract top software talent
01:15:20 - $STRF architecture: CAGR assumptions that outpace risk free rate indefinitely
01:17:30 - $MSTY obsession: risk/reward breakdown and the impact of slippage
01:24:40 - market evolution: strike as self-replicating perpetual call option & importance of scale
01:29:05 - index fuel: index inclusion as rocket fuel & MSTR's scale advantage with BTC moat
01:34:20 - buybacks vs. bitcoin: what Apple and Chevron could’ve gained
01:46:35 - earnings per employee: the reality of earnings powered by Bitcoin
01:50:20 - final thoughts
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
🛒 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.
...more
1h 55min
June 25, 2025Wall Street Digital Gold Rush | True North Podcast | Ep. 31
🧭 MSTR True North episode 31: Led by captain Solei, the crew does a deep dive on l the different Bitcoin treasury strategies, convertible notes, market sentiment, and how global investment dynamics—from the U.S. to Japan—are shaping the future of BTC-backed corporate finance. 🎛️ As of this recording, 6/25/25, Strategy's (MSTR) performance:
Open: $384.83
Close: $388.67
Volume: 10,606,562 shares
mNAV: 1.89
Market Cap: $108.67B
U.S. Market Cap Ranking: 93
BTC: 592,345
⏱️ TIMESTAMPS & INSIGHTS:
00:00:00 - Que the music
00:01:48 - Captain Solei & Agenda
00:04:06 - Future of converts: delta hedging, MSTR shorting & note-holder risks
00:09:36 - Market demand: Current conditions in demand & strategic selectivity
00:12:51 - Expanding the BTC economy: using acquisitions to justify higher multiples
00:17:15 - Tools for LBE growth: long-term play, tools for scaling strategy for future success
00:21:46 - Peeling back leverage: how capital structure impacts BTC price swings & delta hedging 101
00:26:15 - Debt risk: secured vs. unsecured debt & liquidation exposure
00:30:36 - Bailouts: can major holders buffer market failure contagion?
00:35:49 - Takeovers in the future?: activist models to acquire Bitcoin under distress
00:39:30 - Playbook analysis: MetaPlanet & the blueprint for treasury success
00:47:05 - BTC strategies: what defines a Bitcoin treasury vs. just holding BTC
00:52:40 - Levers driving sentiment: buybacks, NAV defense, and market signals
00:56:55 - Float: stock dilution, buybacks, and S&P 500 inclusion
01:10:14 - Types of investors: technical vs. fundamental perspectives
01:17:23 - Catalysts: regulatory deadlines and upcoming BTC triggers that drive MSTR appeal
01:20:08 - $STRK, $STRD & $STRF: product deep dive & BTC upside analysis
01:28:04 - BTC Prague 2025: conference insights, Lightning, and BTC adoption
01:33:00 - Euro/Japan market: investment culture lag & tax-advantaged accounts
01:38:33 - Accessibility: US investors lead in retail access & financial tools
01:41:05 - BTC treasury company niche in Prague: MSTR leads the charge with interest growing
01:45:00 - S&P 500 qualification status: the numbers that capture eligibility
01:47:50 - Moon math: the model behind landing on the moon
01:51:00 - IBIT/MSTR: trend line and analysis
01:55:50 - final thoughts
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
🛒 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.
...more
2h 2min
June 18, 2025Power Of Collateral | True North Podcast | Ep. 30
🧭 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
🛒 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.
...more
1h 55min
June 11, 2025Fishing For The Fixed Income | True North Podcast | Ep. 29
🧭 MSTR True North episode 29: The crew does a deep dive into MSTR's leverage and the future outlook! Also included - Stride IPO insights, Bitcoin volatility, BTC yield projections, S&P 500 potential, fixed income appetite for yield & why Bitcoin-backed products are disrupting markets. 🎛️ As of this recording, 6/11/25, Strategy's (MSTR) performance:
Open: $391.23
Close: $387.11
Volume: 6,812,152 shares
mNAV: 1.91
Market Cap: $108.13B
U.S. Market Cap Ranking: 94
BTC: 580,955
⏱️ TIMESTAMPS & INSIGHTS:
00:00:00 - Intro: Que the music and agenda overview
00:04:47 - MSTR leverage: Debunking MSTR’s leverage myths with data
00:12:02 - STRD IPO: How Stride IPO works & why it matters for MSTR
00:20:41 - BTC volatility: Impact of Bitcoin volatility on MSTR’s capital strategy
00:24:52 - Future products: What’s next? Potential new products & global expansion
00:33:00 - Yield curve & credit spreads: Fixed income ideas & STRK, STRF, STRD comparison
00:45:00 - BTC as collateral: How the market is starting to price Bitcoin as collateral
00:50:59 - Leverage & $STRD: MSTR leverage strategy for future market downturns
00:58:00 - market dynamics: Demand trends & capital stack effects
01:04:06 - Q2 earnings: MSTR Q2 earnings estimates & S&P 500 potential
01:11:00 - BTC yield: Long-term Bitcoin yield projections to 2035
01:22:52 - BTC CAGR: Why Bitcoin’s CAGR could fuel exponential market cap growth
01:30:42 - Market sentiment: Investor reactions & long vs short-term strategy debate
01:35:45 - Seeing into the future: thinking like a visionary and pattern recognition
01:42:46 - Why hold an equity?: pay now for future performance & DNA of future MAG7
01:48:52 - The BTC Standard: a world with energy that’s doesn’t decay; BTC exposure and UBI
02:00:00 - closing insights: Final thoughts on strategy, risk, and market opportunity
SOCIAL MEDIA:
X: https://x.com/PunterJeff
X: https://x.com/BenWerkman
X: https://x.com/nithusezni
X: https://x.com/TimKotzman
X: https://x.com/Z06Z07
X: https://x.com/Adrian_R_Morris
X: https://x.com/RealTrollstein
X: https://x.com/MasonFoard
X: https://x.com/hillery_dan
X: https://x.com/JBerneburg
X: https://x.com/TheJesseMK
X: https://x.com/thebitcoingal
MSTR TRUE NORTH LINKS:
True North Website: https://www.mstrtruenorth.com
X: https://x.com/MSTRTrueNorth
🛒 MERCH: https://thehodlshop.com/collections/t...
Youtube: @MSTRTrueNorth
MSTR Links:
https://www.mstr-tracker.com
https://saylortracker.com/
https://robinhood.com/us/en/stocks/MSTR/
https://www.strategy.com/
Disclaimer: The content in this video is for informational and educational purposes only and should not be considered financial advice. We are not financial advisors, and you should consult with a qualified professional before making any financial decisions. All investments involve risks, and you are responsible for your own decisions.
...more
2h 4min
June 04, 2025$STRDing Toward BTC Fixed Income | True North Podcast | Ep. 28
🧭 MSTR True North episode 28: In this episode the crew breaks down MSTR’s capital stack, Saylor's latest fixed income product creations, leverage analysis, and how digital yield products could reshape traditional finance. 🎛️ As of this recording, 6/4/25, Strategy's (MSTR) performance:
Open: $385.80
Close: $378.10
Volume: 8,472,192 shares
mNAV: 1.90
Market Cap: $105.62B
U.S. Market Cap Ranking: 94
BTC: 580,955
⏱️ TIMESTAMPS & INSIGHTS: Timestamps:
00:00:00 - Agenda: cue the music and NFA
00:03:25 - $MSTR leverage: BTC holdings, debt ratios, and over-collateralization
00:07:07 - Capital strategy: Strike/Strife ATMs, growth potential, and leverage expansion
00:09:30 - The capital stack: Structure, liquidation preference, and investment-grade terms
00:15:15 - Risk tiers: Pyramid mechanics and creditworthiness of BTC-backed instruments
00:16:50: Why $STRD vs $STRF: Spread breakdown, market yields and pricing
00:23:12 - High yield appetite: STRD as a Bitcoin-native junk bond
00:28:50 - Institutional angles: How insurance, banks, and pensions fit $STRD in portfolios & market comps
00:37:00 - $STRF moat: Scale, BTC trust, and sustainable yield thesis
00:42:55 - Digital capital shift: Rethinking credit spreads, collateral risk & the power of liquidity
00:46:50 - Bear defense: Using Stride to defend NAV and disincentivize short pressure
00:52:48 - Bull thesis: Rising prices, credit rating catalysts and qualified dividends
00:58:50 - Portfolio fit: STRF/STRD as yield anchors in digital-first portfolios
01:01:31 - Collateral moat: STRF as benchmark BTC treasury product & investment grade quality analysis
01:07:35 - Assessing legitimacy: Trust, scale, perpetual BTC yield as must-haves
01:11:55 - Proof-of-reserves debate: Security, audit, and credibility issues unpacked
01:15:19 - New adopters: Surge in corporate Bitcoin treasury conversions expected
01:19:48 - Valuation clarity: Dan’s analysis of non-cumulative preferred stocks and MSTR dividend security
01:24:37 - Community recap: BTC Conference stories, meetups, and strategy culture
01:38:57 - Translating Bitcoin: meeting investors where they are to fuel adoption
01:42:10 - Pre-IPO BTC Treasury investing: Overview of reverse merger & SPAC strategies
01:53:00 - Moon math: mNAV expansion price predictions
01:57:10 - S&P 500 inclusion: review the latest status and push for September
01:58:50 - Final thoughts: Roundtable takeaways
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
🛒 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.
...more
2h 8min
May 21, 2025BTC Opportunity Cost EVERYWHERE | True North Podcast | Ep. 27
🧭 MSTR True North episode 27: The crew dives deep into the institutional adoption of Bitcoin globally. Tune in to hear more about MetaPlanet, MSTR, Bitcoin treasuries, market sentiment, and why 2025 could be the breakout year for Bitcoin-aligned equities and cooperative finance. 🎛️ As of this recording, 5/21/25, Strategy's (MSTR) performance:
Open: $415.92
Close: $402.69
Volume: 18,373,500 shares
mNAV: 1.90
Market Cap: $112.11B
U.S. Market Cap Ranking: 85
BTC: 576,230
⏱️ TIMESTAMPS & INSIGHTS:
00:00:00 - The intro: agenda, MetaPlanet buzz, and BTC price discovery
00:04:00 - $BTC/$MSTR outlook: the rise of a decentralized computer network & sentiment challenges
00:08:16 - volatility DNA: options market, leverage in MSTR & trading psychology
00:15:25 - japan bonds: high yields push investors to equities & BTC
00:18:33 - $MTPLF: most shorted stock in JPN and their BTC treasury strategy
00:23:40 - cyber wolf pack: BTC-led corporate coordination and feedback loops
00:28:49 - $BTC cooperation: equity cycles, leverage, and institutional shifts
00:34:56 - mNAV risks: copycats, sentiment metrics, and reflexivity traps
00:44:00 - liquidity: trading volumes of Strategy vs MetaPlanet
00:47:29 - $BTC treasury evolution: BTC value vs growth plays and capital markets access
01:02:05 - $MSTR fundamentals: bitcoin holdings, leverage, and debt strategy
01:08:00 - $STRK deep-dive: yield, convertibility, and comparison to real estate
01:17:28 - yield analysis: $STRK vs property returns and investment risks
01:27:20 - S&P 500 potential: MSTR Q2 earnings, valuation confusion, and market impact
01:35:39 - 2025 outlook: bitcoin treasuries, institutional momentum, and growth trends
01:40:20 - The power of collateral: the transition from selling to borrowing
01:46:05 - $BTC quietly @ ATH: google trends review, institutional interest & strength of the first principles
01:56:00 - Closing thoughts & peaceful portfolios: price discovery and the path to work on your passion
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
🛒 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.
...more
2h 7min
May 14, 2025Capital Gravity Converging & Teeth Scarcity | True North Podcast | Ep. 26
🧭 MSTR True North episode 26: The crew does a deep dive into MSTR, Bitcoin leverage, $STRK, and S&P 500 dynamics. Special guest LaDoger add his perspective on the behind-the-scenes from the True North event. 🎛️ As of this recording, 5/14/25, Strategy's (MSTR) performance:
Open: $420.40
Close: $416.75
Volume: 10,681,100 shares
mNAV: 2.13
Market Cap: $113.94B
U.S. Market Cap Ranking: 84
BTC: 568,840
⏱️ TIMESTAMPS & INSIGHTS:
0:00:00 - Introduction: Podcast themes, tone, and guest introductions
0:05:35 - MSTR True North Origins: why it all started & the laser focus on BTC treasury companies
0:11:37 - MSTR Financials: BTC on balance sheet, leverage, equity strength and BTC Torque
0:17:35 - New Markets: Preferred stock & wildfire risk parallels
0:25:15 - $STRK’s purpose: High-yield fixed income meets Bitcoin exposure
0:32:14 - $STRK vs MSTR: Equity structure, mispricing, synthetic value
0:37:12 - Conference Recap: 2025 Strategy World highlights and community engagement
0:45:46 - Grain of Salt reveal: Vegas plans, documentary filming, team efforts
0:59:02 - Investor Relations: Digital shift, AI integration, Phong's leadership
1:03:50 - LaDoger’s HQ trip: recap of his trip to DC
1:07:07 - Why torque, not leverage: Saylor’s reason for using Torque
1:13:30 - S&P 500: Inclusion mechanics, passive flows, market reaction
1:33:03 - Media Critique: Financial Times misrepresentation, narrative control
1:38:54 - Knowledge Gaps: Economic understanding, humility challenge and Grain’s rant
1:50:25 - Optimism vs Reality: Conference contrast, financial clarity
1:56:50 - Bitcoin treasury movement: escape velocity incoming and the adoption curve
2:18:40 - Final thought: The flywheel has initiated
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
Special guest:
X: https://x.com/LaDoger21
MSTR TRUE NORTH LINKS:
True North Website: https://www.mstrtruenorth.com
X: https://x.com/MSTRTrueNorth
🛒 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.
...more
2h 20min
April 30, 2025T'was The Night Before Earnings | True North Podcast | Ep. 25
🧭 MSTR True North episode 25: The team dives into market trends, MSTR Q1 earnings preview, and insights from the recent Bitcoin for Corporations event hosted by Bitwise. 🎛️ As of this recording, 4/30/25, Strategy's (MSTR) performance:
Open: $373.78
Close: $380.11
Volume: 13,713,700 shares
mNAV: 2.13
Market Cap: $103.74B
U.S. Market Cap Ranking: 86
BTC: 553,555
⏱️ TIMESTAMPS & INSIGHTS:
00:00:00 - Kickoff: Back from Bitwise, upcoming MSTR TN World and Agenda
00:03:30 - Swan’s getting to Werk: Ben’s new CIO role
00:07:17 - MSTR TN World: latest updates from the team
00:14:13 - MSTR by the numbers: BTC holdings, leverage ratio and capital position
00:19:30 - Narrative shift: From ETF doubts to MSTR dominance and growing moat
00:24:00 - Investing strategy: Picking BTC treasury companies
00:27:01 - MSTR’s moat: Why competitors can’t catch up
00:30:42 - Trust and debt: Why MSTR is built on a network of trust
00:34:40 - Credit spreads: Relative risk comparisons for $MSTR vs others
00:42:35 - Meeting Saylor: Converts, marketing and insights
00:47:52 - Market maturity: New derivative products and options
00:53:00 - Bitcoin flywheel: Ecosystem growth, financialization and cooperation
01:07:20 - Corporate BTC: How adoption could spread fast
01:13:06 - Earnings preview: Mark-to-market impact and Q1 outlook
01:18:13 - Future forecast: MSTR as a top-10 stock if BTC hits $150K
01:22:04 - S&P 500 talk: What MSTR inclusion could mean
01:24:00 - Final words: Event prep, gratitude, and next steps
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
MSTR TRUE NORTH LINKS:
True North Website: https://www.mstrtruenorth.com
X: https://x.com/MSTRTrueNorth
🛒 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.
...more
1h 32min
April 16, 2025The Bitcoin Orchestra | True North Podcast | Ep. 24
🧭 MSTR True North episode 24: Deep dive into Strategy's securitized BTC financial products, covered calls, market cycles, and how AI and macro trends are shaping the future of Bitcoin and investing. Insightful, raw, and packed with alpha. 🎛️ As of this recording, 4/16/25, Strategy's (MSTR) performance:
Open: $306.06
Close: $311.66
Volume: 12,814,000 shares
mNAV: 2.06
Market Cap: $83.26B
U.S. Market Cap Ranking: 111
BTC: 531,644
⏱️ TIMESTAMPS & INSIGHTS:
00:00:00 - Intro: Agenda overview
00:04:00 - MSTR Financials Update: 531K BTC, capital structure, and risk thresholds
00:06:00 - Strategy World: Event details, tickets, sponsors, and community building
00:14:12 - BTC Financial Harmony: New Bitcoin-linked products and portfolio design
00:17:45 - Strategy Exposure: Convertible structure, and yield advantage
00:20:00 - Strategy Economy: Volatility as yield, passive BTC buying through equities
00:23:54 - MSTR’s ATM & Yield: Debt coverage and sustainable yield through equity issuance
00:37:40 - MBS vs BTC: Parallels between mortgage-backed securities and Bitcoin securitization
00:42:50 - Impact of AI: disrupting the traditional moat
00:47:30 - BTC Equity Exposure - openness to embrace volatility and different BTC type exposure
00:54:40 - Covered Calls: Mistakes, lessons, and how to tactically manage call options
01:21:20 - Grant Cardone: BTC-backed real estate fund and hybrid investment model
01:25:00 - Private Credit: Bitcoin-based lending and the evolution of structured finance
01:28:00 - Market Trends: Decoupling, inflation fears, and short-term sentiment
01:32:05 - Trade Wars: Why Bitcoin may outperform during tariff-driven uncertainty
01:41:52 - 2008 Parallels: TARP, liquidity, and government intervention redux
01:49:00 - Tax Strategy: Harvesting losses and planning for capital gains
01:54:50 - Closing Thoughts: final takes from the crew
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
MSTR TRUE NORTH LINKS:
True North Website: https://www.mstrtruenorth.org
X: https://x.com/MSTRTrueNorth
🛒 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.
...more
2h 1min

FAQs about True North Podcast:

How many episodes does True North Podcast have?

The podcast currently has 73 episodes available.