#Bitcoin #Crypto #Investing
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⭐️ Follow Cory Klippsten & Swan
X: https://x.com/coryklippsten
Swan: https://www.swan.com/
Today’s conversation is with Cory Klippsten, CEO of Swan.com, Bitcoin maximalist, and one of the most influential voices shaping the future of Bitcoin.
Cory has spent over a decade helping build the Bitcoin ecosystem, advising and investing in more than 60 early-stage tech companies, co-founding multiple Bitcoin investment funds, and leading Swan’s mission to accelerate global Bitcoin adoption.
Before Bitcoin, Cory worked at Google, McKinsey, Microsoft, and Morgan Stanley, and earned his MBA from the University of Chicago. He grew up in Seattle, split 15 years between New York and Chicago, and now lives in Los Angeles with his wife and daughters, sneaking in basketball and travel whenever he can.
In this episode, we explore one of the biggest puzzles in markets today:
📉 Why are Bitcoin treasury companies trading BELOW the value of the Bitcoin they hold, and what does that mean for investors?
We dig into whether this new class of Bitcoin-based equities will consolidate or explode in number, how many will survive, and where the opportunities really are.
Cory shares why he’s still Bitcoin-only, his views on crypto’s other use cases, and what he expects for Bitcoin through 2025 and 2026.
We also discuss Sequans Communications ($SQNS) — how their Bitcoin treasury strategy evolved, the PIPE transaction’s impact on investors, and where things could go next.
Stick around through the end — Cory doesn’t hold back.
Timestamps:
00:00 – Intro
00:12 – Why some Bitcoin treasury companies are now trading below their net asset value
13:38 – Consolidation or proliferation in the Bitcoin treasury space?
18:12 – How many will survive long-term?
21:43 – Digital Asset Treasuries (DATs) beyond Bitcoin
29:08 – Cory’s Bitcoin-only argument
32:30 – Different use cases within crypto
42:14 – Sequans Communications: Bitcoin strategy overview
45:47 – Why Sequans’ Bitcoin purchases have slowed
47:28 – Sequans' PIPE deal and effects on investors
52:57 – Cory’s Bitcoin outlook for 2025–2026
57:34 – Cory’s history in Bitcoin
58:05 – Final thoughts on $SQNS
About Cory Klippsten:
Cory is the CEO of Bitcoin financial services firm Swan.com He is a partner in Bitcoiner Ventures, El Zonte Capital, and The Bitcoin Opportunity Fund, and as an angel has funded more than 60 early stage tech companies. Before startups, Klippsten worked for Google, McKinsey, Microsoft and Morgan Stanley, and earned an MBA from the University of Chicago. He grew up in Seattle, split 15 years between NYC and Chicago, and now lives in LA with his wife and daughters. His hobbies include basketball, history and travel (Istanbul and Barcelona are favorites).
Intro Song:Electronic Future Beats_Fadeout by QubeSounds
This content is for informational and educational purposes only and should not be construed as financial, investment, legal, tax, or any other form of advice. Nothing contained in this program constitutes a solicitation, recommendation, endorsement, or offer by Proof of Thought Podcast (“PoT”) or its guests to buy or sell any securities, cryptocurrencies, or other financial instruments.
Investing involves substantial risk, including the possible loss of principal. Do your own research and consult qualified financial professionals before making any investment decisions.
The views expressed by guests are their own and do not necessarily reflect those of PoT, its hosts, sponsors, or affiliates. PoT and its participants may hold positions in or receive compensation from companies, assets, or products mentioned.
PoT, its hosts, and its guests are not financial advisors and are not responsible for any losses, damages, or actions taken based on the information presented. Use of this content is at your own risk.
Contact: inquiriespot@gmail.com
⭐️ Follow Jeff Grant & Black Pill Capital (BPC)
X: https://x.com/BlackPillCap21
BPC Website: https://blackpillcapital.com/team/
Today’s conversation is with Jeff Grant, CEO and Founder of Black Pill Capital, a hedge fund focused on Bitcoin treasury companies.
Jeff’s career spans over 30 years of innovation — from designing parts that orbit Earth at NASA, to inventing over 100 patented products at IDEO, InVue, and Bank of America.
With a Stanford engineering background and a proven record of transforming ideas into global solutions, Jeff brings a rare combination of technical depth and investor insight to Bitcoin.
In this episode, we explore how Jeff went from discovering Bitcoin to building conviction in Bitcoin treasury companies, why he believes they’re key to accelerating Bitcoin adoption, and how his engineering background shapes his investment philosophy.
Jeff also breaks down his thoughts on Michael Saylor, risk management, and portfolio construction, and what it takes to identify asymmetric opportunities in this new era of Bitcoin-based equity investing.
Stick around until the end — Jeff shares his vision for Black Pill Capital, how he’s bringing both investors and family along for the ride, and what success looks like for the next several years.
Timestamps:
00:00 - Jeff’s Background and Career Journey
08:33 - Jeff’s Bitcoin Awakening
18:13 - From Believing in Bitcoin to Believing in Bitcoin Treasury Companies
26:54 - How Jeff’s Engineering Background Supports His Hedge Fund Approach
29:56 - Most Important Features of Bitcoin From an Engineering Design Perspective
33:38 - Would Jeff Add Anything to Bitcoin or Leave the Protocol Untouched?
35:35 - The 4-Year Bitcoin Cycle Happening in About 4 Months for Bitcoin Treasury Companies
47:33 - How Treasury Companies Can Improve the Timing of Their Bitcoin Purchases
51:12 - Managing Risk: “Heads I Win, Tails I Don’t Lose Much”
53:09 - Jeff’s Top Two Bitcoin Treasury Company Picks for the Next Four Years
55:31 - Thoughts on Michael Saylor
58:26 - Defining Success for Jeff and Black Pill Capital
1:00:33 - Orange and Black Pilling His Wife and Investors
1:03:12 - Where to Follow Jeff & Black Pill Capital
About Jeff Grant:
Jeff Grant is the Founder and CEO of Black Pill Capital, a hedge fund focused on Bitcoin treasury companies. With over 30 years of innovation experience and 117 issued utility patents (99.9th percentile in the U.S.), Jeff’s background spans NASA, IDEO, InVue, and Bank of America.
A Stanford University graduate in Engineering, Jeff combines an engineer’s precision with an investor’s foresight — bringing a unique perspective to how Bitcoin and public markets will intersect in the decade ahead.
Intro Song:
Electronic Future Beats_Fadeout by QubeSounds
DISCLAIMERS
This content is for informational and educational purposes only and should not be construed as financial, investment, legal, tax, or any other form of advice. Nothing contained in this program constitutes a solicitation, recommendation, endorsement, or offer by Proof of Thought Podcast (“PoT”) or its guests to buy or sell any securities, cryptocurrencies, or other financial instruments.
Investing involves substantial risk, including the possible loss of principal. Do your own research and consult qualified financial professionals before making any investment decisions.
The views expressed by guests are their own and do not necessarily reflect those of PoT, its hosts, sponsors, or affiliates. PoT and its participants may hold positions in or receive compensation from companies, assets, or products mentioned.
PoT, its hosts, and its guests are not financial advisors and are not responsible for any losses, damages, or actions taken based on the information presented. Use of this content is at your own risk.
Contact: inquiriespot@gmail.com
⭐️ Follow Jesse Myers
X: https://x.com/Croesus_BTC
Once-in-a-Species: https://www.onceinaspecies.com/p/once-in-a-species-73b
Today’s conversation is with Jesse Myers, a leading Bitcoin thinker and the Head of Bitcoin Strategy at the Smarter Web Company in the UK. Jesse is focused on helping investors and institutions understand how Bitcoin will reshape global capital markets and unlock new financial frameworks for the decades ahead.
In this episode, Jesse shares his long-term growth expectations for Bitcoin over the next 10 and 21 years, and breaks down how Bitcoin will absorb value from other major asset classes to reach those levels.
We dive deep into his cutting-edge valuation framework for Bitcoin treasury companies — Price over Bitcoin Year Delivered (PBYD) — and discuss how it can be used to assess NAV premiums, risk, and valuations in the Bitcoin treasury space.
Jesse also explores how Bitcoin could capture value from the fixed income market, why he expects consolidation among Bitcoin treasuries, and his thesis that a leading Bitcoin treasury company will emerge in every capital market worldwide.
We close with a rapid-fire round on his work at SWC, what success will look like in a decade, and what he hopes his future self will say to him 20 years from now.
Stick around until the end — Jesse delivers sharp insights into how Bitcoin will redefine finance, yield, and value itself.
Timestamps:
00:00 – Intro
01:09 – Jesse’s Growth Expectations for Bitcoin Over the Next 10 and 21 Years
10:23 – How Bitcoin Will Achieve Jesse’s Expected Growth Rate and Which Asset Classes It Will Take Value From
21:17 – How Jesse Thinks About NAV Premiums and Valuations for Bitcoin Treasury Companies (Introducing PBYD)
30:20 – Risk Considerations Around Bitcoin Treasury NAV Premiums
38:43 – Additional PBYD Considerations: Discounting or Adjusting BTC Yield
46:01 – Price-to-Earnings vs BTC Yield
49:57 – Dissecting Bitcoin’s Big Opportunity in the Fixed Income Market
58:37 – Consolidation in the Bitcoin Treasury Space Over the Coming Months and Years
1:09:09 – Jesse’s Thesis: A Leading Bitcoin Treasury Company in Every Capital Market
1:13:34 – Utility of Bitcoin treasury companies beyond bringing Trapped Capital into Bitcoin and providing Bitcoin-backed yield
1:16:21 – Limitations to Jesse’s Thesis Around Trapped Pools of Capital and Bitcoin Yield
1:18:05 – Thoughts on treasury companies improving the timing of their Bitcoin Purchases
1:21:53 – Rapid Fire: Jesse’s Favorite Aspect of Working at SWC
1:24:10 – Rapid Fire: What Success Looks Like for SWC 10 Years From Now
1:25:11 – Rapid Fire: What Jesse Hopes His 50-Year-Old Self Would Say Today
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Intro Song: Electronic Future Beats_Fadeout by QubeSounds
This content is for informational and educational purposes only and should not be construed as financial, investment, legal, tax, or any other form of advice. Nothing contained in this program constitutes a solicitation, recommendation, endorsement, or offer by Proof of Thought Podcast (“PoT”) or its guests to buy or sell any securities, cryptocurrencies, or other financial instruments.
Investing involves substantial risk, including the possible loss of principal. Do your own research and consult qualified financial professionals before making any investment decisions.
The views expressed by guests are their own and do not necessarily reflect those of PoT, its hosts, sponsors, or affiliates. PoT and its participants may hold positions in or receive compensation from companies, assets, or products mentioned.
PoT, its hosts, and its guests are not financial advisors and are not responsible for any losses, damages, or actions taken based on the information presented. Use of this content is at your own risk.
🧠 Don’t miss future episodes — subscribe to Proof of Thought for more deep investing conversations on disruptive companies, Bitcoin, crypto, and high-performing investment strategies.
⭐️ Follow Eric Jackson
X: https://x.com/ericjackson
Today’s episode features Eric, one of the most outspoken Opendoor investors on social media, known for his bold thesis that Opendoor could 100x from $0.80 to $82, and then 6x again from there to $500.
We dive into Opendoor’s leadership shake-up, its path forward in the real estate market, and why Eric believes Opendoor isn’t just another meme stock but a “cult” stock like Tesla and Palantir.
Eric shares what changes he thinks the new leadership team must make to unlock Opendoor’s full potential, the biggest risks the company faces, and why retail investors — the “Open Army” — may be one of Opendoor’s greatest assets, generating millions of dollars in marketing value every single day.
Beyond the company itself, Eric opens up about his personal investing philosophy — including diversification vs concentration, crypto, and even what Kobe Bryant’s “Mamba Mentality” means to him as an investor.
Stick around until the end — you’ll hear wild stories about Eric spending over a month at Drake’s house trying to pitch him Opendoor, what a Super Bowl ad with Drake could look like, and how music like “God’s Plan” fuels his outlook on life and investing.
Timestamps:
00:00 - Timeline and play-by-play of the Opendoor leadership changes over the past 3 months and the impact to Opendoor’s stock price
09:21 - Changes that Opendoor’s new leadership team can implement from both a technology and business perspective to reach its full potential
13:02 - What the new Opendoor management team needs to be most careful about and what investment or business opportunities should they steer clear of
15:25 - Why Opendoor isn’t a meme stock like Gamestop but a “cult” stock like Tesla and Palantir
20:05 - Eric’s original Opendoor thesis that the stock could 100x from $0.80 to $82, and why he believes the stock can now go to $500
25:27 - Biggest risks to Eric’s Opendoor thesis and how the company can mitigate them
27:05 - Why the global real estate market is a huge opportunity for Opendoor
31:49 - Comparing Opendoor, Uber, and Carvana business models and opportunities
37:12 - How the Open Army may be generating $42 million/day in social media marketing value for Opendoor
42:21 - Spending over a month at Drake’s house to convince him to buy Opendoor stock
49:32 - What a Super Bowl ad with Drake and Opendoor could look like
55:43 - Real estate and crypto takeaways from Eric’s recent dinner with Eric Trump
1:00:25 - Diversification vs concentration: would Eric allocate more than half his liquid portfolio to Opendoor?
1:07:22 - Eric’s upcoming crypto treasury company announcement
1:08:52 - Going through challenging times and the meaning of Kobe Bryant’s “Mamba Mentality”
1:12:30 - What Drake’s song God’s Plan means to Eric
About Eric Jackson:
Eric is an investor and entrepreneur best known for his unapologetically bullish stance on Opendoor and his deep interest in disruptive companies and crypto. His conviction in Opendoor has made him one of the most talked-about figures in the retail investing community, where he continues to push bold ideas about technology, real estate, and personal resilience.
#Investing #Bitcoin #Crypto
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⭐️ Follow British Hodl
X: https://x.com/BritishHodl
Today’s conversation is with British Hodl, a well-known Bitcoin maximalist and former gold, equities, and real estate investor who went all-in on Bitcoin in 2021.
Originally from London, British Hodl is on a mission to create whole-coiners and help people understand why Bitcoin is the most important asset humanity has ever created. His insights span markets, macroeconomics, and the personal transformation that comes with adopting a Bitcoin standard.
In this episode, we dive into his thoughts on Michael Saylor, Microstrategy’s potential inclusion in the S&P500, why Bitcoin is the new hurdle rate, and the possibility of governments — including the U.S. — acquiring Bitcoin directly.
British Hodl also shares his perspective on Bitcoin’s four-year cycle, the impact of interest rate cuts, and why he believes owning at least one Bitcoin is critical.
We wrap up with a personal look at how Bitcoin has shaped his life beyond finance and what a day in the life of a committed Bitcoiner really looks like. Stick around until the end — British Hodl delivers some powerful advice on why it’s not too late to build your Bitcoin position and why one Bitcoin could change everything.
Timestamps:
00:00 - Thoughts On Michael Saylor
02:21 - Will MicroStrategy (MSTR) Be Included In The S&P500? Implications For Bitcoin & Treasury Companies
04:32 - Why MicroStrategy (MSTR) Could Become A $10 Trillion Company
05:20 - MicroStrategy’s ATM Usage & Guidance
14:05 - MicroStrategy’s Fixed Income Products
23:51 - Bitcoin As The New Hurdle Rate
28:50 - Thoughts On The Nakamoto (NAKA) Bitcoin Treasury Strategy
31:36 - Bitcoin’s 4-Year Cycle & Structural Differences This Time Around
37:19 - Upcoming Fed Interest Rate Cuts & The Impact On Bitcoin & The Broader Stock Market
41:00 - Thoughts On Tom Lee’s Comments About The U.S. Government Using MicroStrategy (MSTR) To Acquire Bitcoin
42:52 - Will The U.S. Government Start To Purchase Bitcoin In The Near Future?
45:10 - Speaking With BlackRock & Bitcoiners In New York City (NYC)
50:06 - How British Hodl’s Time In Bitcoin Changed Him Beyond Finances
59:10 - Why British Hodl Thinks It’s So Important To Get To 1 Bitcoin
1:04:05 - How Bitcoin Managed To Succeed Against All Odds & Who Created This Transformational Technology
1:07:22 - A Day In The Life Of British Hodl
About British Hodl:
British Hodl is a London-born investor who transitioned from gold, equities, and real estate into becoming a full-time Bitcoin advocate in 2021. Known for his unapologetically bullish stance, he focuses exclusively on educating others about Bitcoin and encouraging people to become whole-coiners.#Bitcoin #Crypto #Investing
British Hodl: Why Bitcoin Will Hit $5 Million & MSTR To $10 Trillion – The Endgame Is Here!
Outro Song: Electronic Future Beats_Fadeout by QubeSounds
⭐️ Follow Zynx: https://x.com/ZynxBTC
Zynx is the founder of The Bitcoin Vote UK and a leading voice in Bitcoin treasury company analysis on X. Known for his activism, strategic insight, and bold predictions, Zynx has become a great resource for understanding the dynamics of public companies holding Bitcoin.
In this 2025 interview, Zynx dives deep into Bitcoin treasury strategies, the risks and opportunities in the sector, and his plan to make the market more transparent and fairer for everyday investors. From year-end price targets to activism playbooks, Zynx reveals the frameworks he uses to evaluate companies, spot red flags, and push for better shareholder alignment.
Whether you’re an experienced investor in Bitcoin equities or just starting to explore the BTC treasury space, this conversation is packed with insights that could shape your strategy in the years ahead.
Key Highlights:
• Year-End Price Targets: Zynx’s projections for his top 3 Bitcoin treasury companies.
• Bear Market Strategy: How he plans to navigate a downturn in Bitcoin and crypto.
• BTC Treasury Competition vs. Coopetition: How companies interact in this unique niche.
• IPO Fairness: Making public offerings more accessible to retail investors.
• PIPE Deals & Incentives: Structuring capital raises to better serve shareholders.
• New Access Vehicles: Will Nakamoto offer public investors favorable BTC treasury deals?
• Risk Assessment: Identifying idiosyncratic and systemic risks in BTC treasury stocks.
• Evaluation Frameworks: The qualitative factors Zynx values most.
• Red Flags & Diversification: Avoiding pitfalls while building a smart portfolio.
• Bitcoin Price Outlook: Long-term BTC projections through 2030.
Whether you're tracking Bitcoin price predictions, seeking a Bitcoin explained video, or keeping up with crypto news, this interview is your all-in-one source for the most current insights in the crypto universe.Timestamps:
00:00 - Intro & Year-End Price Targets for Top 3 BTC Treasury Companies
07:15 - Navigating a Bitcoin & Crypto Bear Market
09:45 - Competition vs. Coopetition in the BTC Treasury Space
13:45 - Investing in The Smarter Web Company IPO & Fixing IPO Fairness for Retail
18:34 - Aligning Shareholder Incentives in PIPE Deals
21:51 - Will Nakamoto Give Public Investors Better BTC Treasury Access?
24:22 - Key Takeaways from Activism Work
27:25 - Future Plans for Activism & How to Get Involved
30:09 - Idiosyncratic Risks in BTC Treasury Companies & the Sector as a Whole
32:34 - Qualitative Factors Zynx Uses to Evaluate BTC Treasury Companies
34:09 - Smart Diversification Strategies
35:49 - Red Flags When Investing in BTC Treasury Companies
37:43 - Where to Find Zynx & Follow His Work
38:33 - Bitcoin Price Targets (2025–2030) from 2022
About Zynx:
Founder of The Bitcoin Vote UK, Zynx is a UK-based freedom maximalist who builds Bitcoin businesses, analyzes Bitcoin treasury companies, and advocates for Bitcoin as the ultimate safe haven.
Outro Song:
Electronic Future Beats_Fadeout by QubeSounds
#Bitcoin #Crypto #Investing
Bitcoin Interview: The Future of Bitcoin, Treasury Companies & Activism in Public Markets in 2025
Zynx: How Bitcoin Will Transform Investing [2025]
Today’s episode features Bitcoin advocate and investor Sunny Po. Sunny has crafted a unique, long-term strategy of investing in Bitcoin while shorting fiat currency — an approach that has allowed him to generate impressive returns, outperforming traditional benchmarks like the S&P 500 and hedge funds.
Sunny shares how he created $115k seemingly out of thin air in just 24 months with a blended 212% investment return. We also discuss his disciplined debt management plan from day one and how he tracks monthly progress to stay on course.
We dive deep into his risk management strategies, tax approaches modeled after billionaires like Jeff Bezos, Elon Musk, and Warren Buffett, and his choice to forego withholding taxes to maximize Bitcoin investments today.
This episode also covers the emotional side of investing in volatile assets like Bitcoin and how Sunny stays level-headed through market swings. Plus, he offers insights on the longevity of the long Bitcoin/short fiat trade, fundamentals driving Bitcoin’s price upward, and his views on corporate Bitcoin investors like Microstrategy and Metaplanet.
Stick around to the end where Sunny discusses escaping the financial “matrix” and learning to play the game to your advantage — along with the tweet he expects to cherish in five years.
Timestamps:
00:00 - Was Bitcoin meant for the masses or will it be an asset for the 1%?
07:20 - Sunny’s novel way of investing in Bitcoin
10:41 - Creating $115k out of thin air
14:03 - Using Bitcoin to outperform the S&P 500 and hedge funds
15:41 - The mechanics of Sunny’s long bitcoin, short fiat trade
19:07 - Sunny’s day 1 plan for long-term debt management
20:48 - Monthly progress tracking22:00 - Managing and mitigating upfront risks
26:47 - Tax strategies to buy more Bitcoin, inspired by Jeff Bezos, Elon Musk & Warren Buffett
29:43 - Choosing no withholding on W-4 to invest in Bitcoin now
32:48 - Issues faced with these strategies so far
34:21 - Managing emotions when investing, especially in volatile assets like Bitcoin
36:24 - What Sunny would do differently if starting his Bitcoin investment plan today
38:25 - Duration of the long Bitcoin / short fiat trade
40:30 - Why Bitcoin’s price will keep going up — fundamentals explained
43:19 - Views on Microstrategy and Metaplanet’s corporate Bitcoin strategy
46:45 - Escaping the matrix vs mastering the game
49:10 - The tweet Sunny will appreciate most in 5 years
50:43 - Where to follow Sunny and keep up with his journey
About Sunny Po:
Sunny Po is a Bitcoin advocate and investor known for his innovative long Bitcoin / short fiat trade strategy. He combines disciplined financial and debt management with savvy tax planning to maximize Bitcoin accumulation, aiming to capitalize on Bitcoin’s historic growth potential. Sunny is quickly becoming a thought leader in the Bitcoin investing community and shares his journey openly to help others succeed.
Outro Song: Electronic Future Beats_Fadeout by QubeSounds
#Crypto #Bitcoin #investing #Microstrategy #Metaplane
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⭐️ Follow Adrian Morris
X: https://x.com/Adrian_R_Morris
Today’s interview is with Adrian Morris – a techie, AI super-user, and Bitcoin thinker who has been carving out a unique voice in the Bitcoin and Bitcoin-equities space.
Adrian has an unconventional journey. He studied computer science, sociology, psychology, management information systems, and business analytics before working across recruiting, analytics, finance, and systems implementation. He now also works as an AI consultant, helping clients prepare for the future of artificial intelligence.
Somewhere along this path, Adrian had his “Bitcoin awakening,” which led him deep into the Bitcoin ecosystem and the corporate Bitcoin strategies shaping the future of finance.
In this conversation, we explore Bitcoin’s evolving role in corporate strategy (from MicroStrategy to Metaplanet), the concept of a “Bitcoin Surge Protector,” why portfolio concentration beats over-diversification, and why Bitcoin plus BTC equities may define this crypto cycle.
We also dig into how Bitcoin is reshaping companies, jobs, and social media narratives—and why Adrian believes authenticity is critical in this space.
Make sure to watch to the end, where Adrian shares what he believes most people still misunderstand about Bitcoin today, and how he hopes to be remembered in the broader Bitcoin story.
Timestamps:
00:00 - Introduction Adrian’s Background and Career Journey
02:21 - Adrian’s Bitcoin Awakening
5:48 - MicroStrategy and the Corporate Bitcoin Strategy
9:27 - Investment Discipline and Portfolio Management
13:55 - Diversification vs Concentration
17:11 - Metaplanet Performance and Its Future Potential
20:50 - Crypto Market Cycles and the Bitcoin Surge Protector Concept
28:35 - Bitcoin + BTC Equities: A New Cycle
37:29 - MSTR’s Path to S&P 500 Inclusion
41:30 - The Future of Jobs in Bitcoin Treasury Companies
44:10 - Importance of Social Media Authenticity in the Bitcoin Space
48:18 - Expectations for Bitcoin in Q3 and Q4
50:48 - Biggest misunderstanding about Bitcoin today & Understanding Bitcoin as a Social Network
51:47 - How Adrian hopes to be remembered in the broader Bitcoin story
About Adrian Morris:
Adrian Morris is a Bitcoin advocate and AI consultant based in Arizona. A member of the MSTR True North community, he writes and speaks about Bitcoin, AI, and the intersection of technology and finance.
#Bitcoin #Crypto #Investing #Microstrategy #Metaplanet #Treasuries
Adrian Morris: Why this Bitcoin & Crypto Cycle Will Be Like No Other – Huge Q4 2025 Expectations!
Adrian Morris: Bitcoin, Microstrategy, and Metaplanet Will Dominate In 2025
Today’s guest is investment manager and long-time sound money advocate Larry Lepard.
Larry is a Harvard MBA and seasoned investor who made early bets on the internet in the 1990s before turning to gold, silver—and eventually, Bitcoin. He was buying BTC when it was just $300, and in this wide-ranging conversation, Larry shares why he believes another “Big Print” is coming, how Bitcoin fits into the future of monetary policy, and why he thinks 0.1 BTC could become a life-changing amount.
We also discuss how monetary and fiscal policy have created a cycle of boom and bust, the mechanics of the Silicon Valley Bank bailout, and why the Fed may be heading toward a debt and currency crisis. Finally, Larry gives his thoughts on AI’s economic impact and how Bitcoin could serve as a hedge, medium of exchange, and check against fiscal excess.
⭐️ Follow Larry Lepard
X: https://x.com/LawrenceLepard
Website: https://ema2.com/
Book: https://www.amazon.com/Big-Print-Happened-America-Sound/dp/B0DVTCVX8J
⏳ Timestamps:
00:00 - Intro
01:33 - When Larry became a serious Bitcoin investor & saw “The Big Print” coming
09:25 - Are we all playing musical chairs with Fed policy
11:39 - Why did low rates lead to growth, not collapse, post-GFC?
14:32 - Why does the Fed keep repeating boom-bust cycles
15:18 - Larry’s response to Warren Buffett on fiscal/monetary stimulus response during previous crises
18:07 - COVID-era monetary expansion and unintended consequences
19:51 - Balancing free markets with emergency stimulus
21:18 - Post-GFC regulations and the SVB collapse
23:58 - How SVB was “bailed out” despite Dodd-Frank
29:20 - What could’ve been done differently? Were Larry’s deposits insured?
31:42 - What happens to assets the Fed buys in crises?
33:59 - How more money printing in the U.S. could lead to a debt or currency crisis
40:06 - Can the Fed still course-correct—or is it too late
40:30 - When will the next “Big Print” happen?
41:19 - Why elite institutions overlook these macro issues
42:59 - How AI and job losses could influence monetary/fiscal response
45:52 - Why Bitcoin is a powerful medium of exchange
48:24 - Should governments adopt Bitcoin?
52:48 - If the U.S. held Bitcoin & gold, would that enable even more printing?
54:07 - Closing thoughts & key takeaways from Larry’s book
About Larry Lepard:
Larry founded Equity Management Associates in 2006. EMA invests in high-conviction, value-oriented opportunities around the world. A Harvard MBA, former pilot, and competitive CrossFit athlete, Larry brings a unique combination of insight, intensity, and clarity to the global investing conversation.
#Bitcoin #Crypto #MonetaryPolicy #Investing #Gold #Silver #Miners
Larry Lepard: Why 0.1 Bitcoin Could Be Life-Changing, The Fed’s Big Mistake, and What Comes Next
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Inside the Federal and State-Level Bitcoin Revolution and Adoption | Dennis Porter on Strategic Reserves, DC Politics, and the Future of U.S. Bitcoin Adoption
Dennis Porter joins the show to break down what’s really happening behind the scenes in Washington D.C. and in state legislatures around Bitcoin policy. From the rise of the Strategic Bitcoin Reserves (SBRs) to the pro-Bitcoin shift in U.S. politics, Dennis shares exclusive insights you won’t hear anywhere else.
We cover:
• Why Dennis started the Satoshi Action Fund
• The most promising strategies for passing Bitcoin bills at the state level
• What actually happened with the Strategic Bitcoin Reserve in Florida and what comes next
• Whether the federal government will buy Bitcoin
• Dennis’ long-term vision for Bitcoin in America
👇 Timestamps
00:44 – Dennis Porter’s Journey Into Bitcoin: From Politics to Crypto Advocacy
03:57 – Why Dennis Founded the Satoshi Action Fund (and What It Does for Bitcoin)
09:20 – Dennis Porter’s Biggest Win in Bitcoin Policy So Far
13:30 – How Washington DC Flipped from Anti-Crypto to Pro-Bitcoin
22:28 – Critical U.S. Crypto Market Structure Laws That Could Impact Bitcoin’s Future
24:20 – How States Can Build Strategic Bitcoin Reserves (SBRs)
33:21 – Why States Could Use Unclaimed Funds to Buy Bitcoin
34:30 – Blueprint for Structuring a State Strategic Bitcoin Reserve
37:32 – Why Florida Rejected the Strategic Bitcoin Reserve Bill
39:49 – Top Concerns About Bitcoin by Lawmakers (and How Dennis Responds)
45:05 – Why Dennis Porter Focuses His Bitcoin Advocacy on State Governments
52:00 – Will the U.S. Government Buy Bitcoin? Here’s What Could Happen
53:39 – Dennis Porter’s Advice for Lawmakers on Bitcoin and Crypto
55:05 – Dennis Porter’s 10-Year Bitcoin Prediction (2025–2035)
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📢 Like, comment, and subscribe if you’re passionate about Bitcoin’s future and the growing movement at both the state and federal levels.
💬 What do you think about the idea of a Strategic Bitcoin Reserve? Should your state pass one?
DISCLAIMER:
This content is for informational purposes only. Nothing in this episode constitutes financial or investment advice. Please do your own research and consult a licensed advisor before making any investment decisions. The views expressed are those of the individual speakers.
#Bitcoin #StrategicBitcoinReserve #CryptoPolicy #DennisPorter #SatoshiActionFund #BitcoinAdoption #PublicPolicy #BTC #Florida #TexasStrategicBitcoinReserve #texas #NewHampshireStrategicBitcoinReserve #NewHampshire #ArizonaStrategicBitcoinReserve #Arizona #FloridaStrategicBitcoinReserve #Florida #StateLegislation #BitcoinUSA #CryptoRegulation #HardMoney #FederalReserve #BitcoinInfrastructure #MacroPolicy #DeepConversations
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*This video was recorded May 22, 2025.
Metaplanet Is Just Getting Started: Bitcoin, Japan, and the Future of Treasury-Backed Stocks.
In this episode, we’re joined by Peter Duan (@BTCBULLRIDER) and Climb That Ladder (@ActuallyClimber) Climb. We discuss:
- Why Metaplanet still has room to run after already delivering a ~37x return in ~1 year
- How to think about BTC treasury companies like MicroStrategy and Metaplanet
- Whether rotating between Bitcoin proxy stocks makes sense
- Building a following on X, learning in public, and leveling up as an investor
- First principles investing and how to survive hard patches
👇 Timestamps
00:12 - How Climb got his start in investing
01:27 - How Pete started investing
03:55 - Why Climb went all-in on Metaplanet in April 2025
07:17 - Why marketing and community matter for BTC treasury companies
16:00 - Metaplanet stock as a Bitcoin call option without the downside
20:14 - After a ~37x run, why Metaplanet may still have room to run
24:26 - How to bounce back from tough investing stretches
25:43 - Rotating between BTC proxy stocks — worth it?
30:10 - Growing a following on X from scratch
41:00 - What’s inspiring Climb and Pete right now
📈 Follow our guests on X:
🔹 Climb – @ActuallyClimber
🔹 Pete – @BTCBULLRIDER
📈 Follow us on X:
🔹 Charles – @CharlesOdeiiii
🔹 Brad – @Braddendum
📢 If you enjoy conversations like this, support the pod by liking, subscribing, and leaving a comment below.💬 What’s your take on Metaplanet vs MicroStrategy? Would you buy here?
DISCLAIMER:
This content is for informational purposes only. Nothing is financial or investment advice. Always do your own research and consult a professional before making any investment decisions. The views expressed are those of the guests and hosts individually.
#Bitcoin #MicroStrategy #Metaplanet #Investing #Japan #MichaelSaylor #HardAssets #Inflation #FederalReserve #DylanLeClair #SimonGerovich #Crypto #Gold #FiscalStimulus #NationalDebt #DeepConversations #MacroInvesting #BitcoinTreasury #Stocks
In this deep-dive interview, Brian and I explore Bitcoin investment strategies, Microstrategy's (traded as $MSTR, recently rebranded as Strategy) trajectory under Michael Saylor, and how to analyze other Bitcoin treasury companies like Metaplanet and Semler Scientific. Brian shares unique first-principles frameworks for evaluating Bitcoin, discusses GameStop’s Bitcoin strategy, and unpacks key concepts like ATM financing instruments, convertible notes, and preferred stock.
We cover the technology adoption curve of Bitcoin, the implications of Strategy’s Nasdaq 100 inclusion for a potential future S&P 500 listing, and how leveraging debt can amplify Bitcoin exposure. Brian also reveals his favorite Bitcoin treasury company beyond MicroStrategy, his insights on Jack Mallers’ 21 Capital with Cantor Fitzgerald and Tether, and how a multilingual background can provide an edge when evaluating global Bitcoin opportunities like Metaplanet.
Whether you’re a seasoned investor or new to the world of Bitcoin, crypto, and Bitcoin treasury strategies, this conversation will help you think critically about how to approach Bitcoin investing from both short- and long-term perspectives.
Timestamps:
0:43 - Strategy’s “42 42 Plan” explained
2:20 - Short-term vs long-term Bitcoin investing
2:42 - ATM instruments, convertible notes, and preferred stock: key differences
5:45 - GameStop’s surprising Bitcoin strategy
7:59 - Technology adoption curve for Bitcoin and crypto
10:05 - Strategy’s Nasdaq 100 inclusion and implications for S&P 500 eligibility
13:19 - First Principles: Evaluating Bitcoin if starting today
16:34 - First Principles: Using arbitrage and debt to buy Bitcoin
20:18 - First Principles: How Bitcoin changed Brian’s investing
24:00 - Key KPIs to analyze Strategy/MicroStrategy ($MSTR)
29:17 - Analyzing Bitcoin treasury companies without a finance background
32:13 - Jack Mallers’ 21 Capital, Cantor Fitzgerald, and Tether
35:34 - Brian’s excitement about Bitcoin’s future
36:47 - Brian’s favorite Bitcoin treasury company beyond Strategy/MicroStrategy
39:24 - How Brian’s Japanese degree helps with Metaplanet analysis
40:05 - Brian’s view on Semler Scientific ($SMLR)
42:14 - Brian’s current reading and listening list
43:13 - Researching Metaplanet’s “ATM-like” financing instrument
44:43 - Where to follow Brian
➡️ Don’t miss this essential discussion on Bitcoin investing, Michael Saylor, MicroStrategy, Metaplanet, Semler Scientific, Jack Mallers, GameStop, Tether, and the future of Bitcoin treasury strategies.
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James Lavish expects a massive new monetary print from the Fed — and he’s betting big on Bitcoin. In this episode, Bitcoin Opportunity Fund co-founder and managing partner James Lavish breaks down why another $5 to 20 trillion in stimulus may be on the way...and how investors can prepare.
We break down the Fed’s latest moves, inflation risks, and the opportunities in publicly traded Bitcoin treasury companies. From macro volatility to Bitcoin treasuries, from debt spirals to asymmetric investing — James gives you the playbook he’s using to navigate today's increasingly uncertain economic environment.If you’re wondering where we go next — and how to position yourself for the next wave of economic upheaval — and opportunity. This is an interview you don’t want to miss.
*This video was recorded May 1, 2025.
This episode is for educational purposes only and not financial advice. Always do your own research or speak to a licensed financial advisor.
00:00 Intro
01:22 Recent macroeconomic data and Federal Reserve expectations
08:48 James’s work at The Bitcoin Opportunity Fund
18:10 How James’ fund is investing in a volatile 2025 macro climate
21:54 Running a company on the Bitcoin standard and hedging bets
24:26 Investing in publicly traded Bitcoin treasury companies — and responding to critics
32:50 First Principles: How to value Bitcoin treasury companies and identify the best bets
38:35 First Principles: Could a U.S. Strategic Bitcoin Reserve reduce the U.S. debt and what impact would it have on the U.S. dollar
46:43 The next big monetary print
54:08 The book that changed how James thinks about investing
55:46 James’s Bitcoin price prediction for 2030
Follow James
:X – https://x.com/jameslavish
Newsletter – https://www.jameslavish.com
The Bitcoin Opportunity Fund – https://www.bitcoinopportunity.fund
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Bitcoin is coming for your corporate balance sheet.
In this episode, Semler Scientific Chairman Eric Semler breaks down why public companies are adding Bitcoin to their balance sheets—and how it could completely reshape corporate finance over the next decade.
He explains:
▫️The origin of Bitcoin treasury companies and what most people misunderstand
▫️How to convince the board, management, and shareholders to buy Bitcoin
▫️Why Semler Scientific believes Bitcoin maximizes shareholder value
▫️The overlooked advantage of having a separate CEO and Chairman
▫️Why using preferred stock and fixed income products to buy Bitcoin could supercharge returns
▫️Advice for companies looking to build long-term value through a Bitcoin strategy
*This video was recorded April 29, 2025.
This episode is for educational purposes only and not financial advice. Always do your own research or speak to a licensed financial advisor.
Timestamps:
00:00 Intro
01:19 Origin of Bitcoin treasury companies
02:56 Business Competition vs. Coopetition
05:35 Convincing the board, shareholders, and management to buy Bitcoin
08:01 Past technologies similar to Bitcoin
10:11 How investing shaped Eric’s business strategy
16:51 First Principles: Semler’s Bitcoin playbook
20:42 Long-term investing mindset
21:10 Using preferred stock/fixed income to buy Bitcoin
22:16 First Principles: Building a meaningful career
24:48 Advantages of having a Bitcoin-focused chairman and separate CEO
26:41 What banks and Bitcoin integration could look like in 5–10 years
28:28 Using gold to value Bitcoin
30:39 Advice for companies adding Bitcoin to their balance sheet
33:34 Three zombie companies that should adopt Bitcoin: Zoom, Yelp, Viant
36:45 Would Semler Scientific acquire a high cash-flow business or another Bitcoin treasury company?
38:15 “Make every day a masterpiece” — tribute to Bill Walton
39:40 What Eric is currently reading and learning
40:48 Where to follow Eric
Follow Eric:
Eric on X - https://x.com/SemlerEric
Semler Scientific Bitcoin Dashboard - https://ir.semlerscientific.com
Semler Scientific's Healthcare Business - https://www.semlerscientific.com/semler
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Dan Hillery joins us today for Episode 2 of the Proof of Thought Podcast. Is there a smarter way to invest in Bitcoin and everything surrounding it? This will change how you think about wealth, risk, and opportunity in the next decade.
*This video was recorded April 17, 2025.
Dan reveals:
▫️ How he transitioned from simple index funds to going all in on Bitcoin
▫️ Why he shifted part of his BTC allocation to Strategy (formerly MicroStrategy) stock—and what most investors miss
▫️ The #1 risk he sees for Bitcoin today
▫️ How he uses first principles thinking to analyze memecoins, options, and market cycles
▫️ The entrepreneurial insights that led him to create his own options platform, Achilles Intelligence
▫️ Why he believes MSTR options are in a league of their own
▫️ What Dan would never do with his own Bitcoin—and why
The information in this episode is for educational purposes only and should not be considered financial advice. Always do your own research or speak to a licensed financial advisor before making any investment decisions.
Timestamps:
00:00 Intro
01:30 Starting Young in Investing
04:09 From Index Funds to Bitcoin
06:51 Navigating Risk With Bitcoin & MSTR
09:24 BTC vs. MSTR Allocation Strategy
10:29 Rebalancing Over Time
12:28 The Biggest Risks to Bitcoin and MSTR
14:15 How Dan Handles Market Shocks
16:49 The Investors Who Shaped His Thinking
18:58 Bitcoin vs. Altcoins
21:05 First Principles: Memecoins & Expected Value
25:20 First Principles: Why MSTR Options Are in a League of Their Own
29:55 First Principles: Why MSTR Trades at a Premium to NAV
36:35 First Principles: MSTR vs. MSTY vs. STRK vs. STRF
46:59 Entrepreneurial Opportunities in Crypto
49:23 Why He Created Achilles Intelligence
51:38 Early Investing Mistakes and Lessons
54:32 Most Interesting Bitcoin Innovation Today
55:24 Dan’s Personal Social Media Content Strategy
56:09 Would He Ever Loan Out His Bitcoin?
57:07 Dan’s North Star
59:05 What Dan Is Reading and Listening To
1:00:17 Where to Follow Dan
Follow Dan:
Dan on X - https://x.com/hillery_dan?lang=en
Dan on YouTube - https://www.youtube.com/@UCazR7E8kze4_JD35aJQMa2Q
LinkedIn - http://linkedin.com/in/daniel-hillery-898255226
Achilles Intelligence Website - http://achilles-intelligence.com
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Podcast on Spotify: Proof of Thought
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Charles on X: https://x.com/charlesodeiiii
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Matt Hougan joins us today for Episode 1 of the Proof of Thought Podcast. The crypto revolution is just beginning and will reshape everything from corporate treasuries to how nations store value. Matt, the CIO of Bitwise, breaks down what’s coming next and how to position yourself for it.
*This video was recorded March 25, 2025.
In our very first episode, Matt reveals:
▫️Why this wave of Bitcoin Standard Corporations is here to stay.
▫️Whether MicroStrategy is a masterstroke or a mirage.
▫️Why we may be on the verge of many more sovereigns buying Bitcoin.
▫️How stablecoins could reshape U.S. debt, trust, and the financial system.
▫️Which crypto narratives still have legs.
▫️How to generate real income from Bitcoin holdings.
▫️The most exciting business opportunities in crypto right now.
The information in this episode is for educational purposes only and does not constitute financial advice. Always do your own research or speak to a licensed advisor before making any investment decisions.
Timestamps:
00:00 Intro
01:30 Why More Companies Are Turning Their Treasuries Into Bitcoin (feat. Bitwise’s Bitcoin Standard Corporations ETF)
05:07 Skepticism About MicroStrategy and Other Bitcoin Treasury Companies and What People Get Wrong
08:14 The New U.S. Strategic Bitcoin Reserve and What Central Banks Around the World Will Do Next
11:23 U.S. Fort Knox Gold vs. Strategic Bitcoin Reserve and the Future of U.S. Hard Reserve Assets
13:40 Nation State Game Theory in the U.S. Buys Bitcoin or Sells Gold to Do It
14:59 Why Ethereum ETFs Underperformed Expectations, What People Get Wrong, and What’s Next
17:28 Solana ETFs and Its Post-Meme Coin Narrative
19:21 First Principles: Why Stablecoins Could Fund $1 Trillion of U.S. Debt
25:21 First Principles: Importance of Trust in Cryptocurrency, Bitcoin, and Stablecoins
30:21 First Principles: Parallels Between Cryptocurrency and ETF Adoption
34:14 The Most Exciting Business Opportunities in Crypto Today
36:48 The Impact of Institutional Adoption on Cryptocurrency Market Cycles
38:59 Generating Income From Bitcoin and Unicorn Business Opportunities
41:37 What Matt Is Reading and Listening To
42:50 Where to Keep Up With Matt
Follow Matt:
Matt on X: @Matt_Hougan
Bitwise Asset Management on X: @BitwiseInvest
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X: @ProofOfThoughtX
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Podcast on Spotify: Proof of Thought
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