Your guide to the companies stacking #Bitcoin. Hosted by @GrafYves and @quentinisonx Produced by @dariostackssats
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Strive $ASST is rewriting the Bitcoin Treasury playbook! 🔥
And with its $700M $SATS IPO, the race for the #2 spot is heating up!
@TylerCompiler from @BTCtreasuries joined us to break it all down.
Just look at what's happening with Strive:
→ 4,045 BTC acquired in a single week.
→ $700M $SATS IPO, introducing a second preferred capital-raising engine.
→ Potentially 44,000+ BTC in total holdings by next week, putting Strive at the #2 spot.
And imagine what happens when the bull market kicks into gear.
We also dive into:
🔸 Strategy $MSTR spending over $1B on $STRC buybacks. Why is it still struggling to reach par?
🔸 How could $SATS strengthen $SATA, improve Bitcoin coverage, and help push it back to par?
🔸 Could Strive reach 100,000 BTC by the end of 2027?
🔸 Metaplanet's US expansion through Super Planet $SUPA.
🔸 Why perpetual preferred equities could fundamentally transform the Bitcoin Treasury industry.
The race is entering a whole new phase, and the financial engineering behind it is fascinating.
00:00 Intro: Strategy, Strive & the Bitcoin Treasury Race
01:16 Strategy's STRC Buyback: Is It Working?
02:33 Should Strategy Raise STRC's 12% Dividend?
06:01 Are STRC Buybacks Signaling Weakness?
10:08 What Happens to STRC if Bitcoin Hits $100K?
10:58 Strive's Explosive Growth: 4,045 BTC in One Week
13:34 Why Strive Is the Fastest-Growing Bitcoin Treasury
15:42 SATS Explained: Is a 15% Yield Worth the Risk?
19:00 Can SATS Push SATA Back to $100 Par?
24:20 Could Strive Become the Next Strategy?
26:59 Can Strive Reach 100,000 BTC by 2027?
30:17 Bitcoin Amplification: Strive vs Strategy
32:26 Metaplanet's US Expansion: Super Planet (SUPA)
35:23 The Future of Bitcoin Treasury Companies
38:16 Where to Follow Tyler Rowe & BitcoinTreasuries.net
Full episode 👇
Bitcoin Treasury Companies are accumulating billions in BTC.
But securing that much Bitcoin is a challenge of its own.
@YChoueifaty of TOBAM explains why even a simple hardware wallet introduces layers of trust — and why achieving true zero-trust custody is far more complicated than most people think.
Is Wall Street fundamentally mispricing Bitcoin-backed credit?
In Episode 6 of Inside the Walls, we had a fascinating conversation with @AlexandreLaizet from @_ALCPB, @Andre_Dragosch from @Bitwise, and @YChoueifaty from TOBAM.
A few particularly interesting takeaways:
→ Strategy's $STRC could be significantly mispriced. André argues that its yield is far above what comparable credit risk would suggest.
→ Strive $ASST is pushing financial innovation further. The introduction of $SATS, offering a 15% dividend, could actually strengthen $SATA rather than undermine it.
→ Smarter Web $SWC is opening a new frontier for Digital Credit. With £10M raised through $MORE, the UK now has its first Bitcoin-backed perpetual preferred stock, potentially paving the way for broader institutional adoption across Europe.
→ The next capital rotation could favor Bitcoin. As inflation accelerates and the AI trade cools, André sees the potential for billions to rotate from semiconductor stocks into Bitcoin over the coming months.
And we finish with a provocative discussion about Bitcoin custody:
Is "not your keys, not your coins" really scalable? Or is institutional custody an inevitable part of Bitcoin's future?
Another fantastic conversation with three incredibly insightful minds.
The financial system isn't being replaced overnight. It's being transformed from within.
00:00 Bitcoin Market Update: Inflation, MSTR, Strive & Smarter Web
03:05 The Digital Credit Revolution: STRC, SATA, SATS & MORE
07:25 Smarter Web's MORE: Was the £10M Launch a Success?
12:37 Can Bitcoin-Backed Credit Become an Institutional ETF?
15:52 Retail vs. Institutional Demand: Who Will Drive Digital Credit?
23:24 Can Credit Ratings Unlock Institutional Bitcoin Adoption?
27:38 Is STRC Mispriced? Bitcoin Credit vs. Traditional High-Yield Bonds
31:41 Why SATS Actually Strengthens SATA
39:05 Strive's 15% SATS Dividend: Is the Yield Sustainable?
41:39 Inflation Shock: Will the Fed Raise Interest Rates Again?
45:53 When Could Billions Rotate Into Bitcoin?
47:15 TOBAM Challenges “Not Your Keys, Not Your Coins”
51:40 Is Institutional Bitcoin Custody Inevitable?
55:55 How TOBAM Secured Bitcoin Before Institutional Custodians
58:03 The Future of Bitcoin Custody: Multisig vs. Self-Custody
59:42 Final Thoughts: Bitcoin's Institutional Future
Watch the full episode! 🔥👇
Is Wall Street fundamentally mispricing Bitcoin-backed credit?
In Episode 6 of Inside the Walls, we had a fascinating conversation with @AlexandreLaizet from @_ALCPB, @Andre_Dragosch from @Bitwise, and @YChoueifaty from TOBAM.
A few particularly interesting takeaways:
→ Strategy's $STRC could be significantly mispriced. André argues that its yield is far above what comparable credit risk would suggest.
→ Strive $ASST is pushing financial innovation further. The introduction of $SATS, offering a 15% dividend, could actually strengthen $SATA rather than undermine it.
→ Smarter Web $SWC is opening a new frontier for Digital Credit. With £10M raised through $MORE, the UK now has its first Bitcoin-backed perpetual preferred stock, potentially paving the way for broader institutional adoption across Europe.
→ The next capital rotation could favor Bitcoin. As inflation accelerates and the AI trade cools, André sees the potential for billions to rotate from semiconductor stocks into Bitcoin over the coming months.
And we finish with a provocative discussion about Bitcoin custody:
Is "not your keys, not your coins" really scalable? Or is institutional custody an inevitable part of Bitcoin's future?
Another fantastic conversation with three incredibly insightful minds.
The financial system isn't being replaced overnight. It's being transformed from within.
00:00 Bitcoin Market Update: Inflation, MSTR, Strive & Smarter Web
03:05 The Digital Credit Revolution: STRC, SATA, SATS & MORE
07:25 Smarter Web's MORE: Was the £10M Launch a Success?
12:37 Can Bitcoin-Backed Credit Become an Institutional ETF?
15:52 Retail vs. Institutional Demand: Who Will Drive Digital Credit?
23:24 Can Credit Ratings Unlock Institutional Bitcoin Adoption?
27:38 Is STRC Mispriced? Bitcoin Credit vs. Traditional High-Yield Bonds
31:41 Why SATS Actually Strengthens SATA
39:05 Strive's 15% SATS Dividend: Is the Yield Sustainable?
41:39 Inflation Shock: Will the Fed Raise Interest Rates Again?
45:53 When Could Billions Rotate Into Bitcoin?
47:15 TOBAM Challenges “Not Your Keys, Not Your Coins”
51:40 Is Institutional Bitcoin Custody Inevitable?
55:55 How TOBAM Secured Bitcoin Before Institutional Custodians
58:03 The Future of Bitcoin Custody: Multisig vs. Self-Custody
59:42 Final Thoughts: Bitcoin's Institutional Future
Watch the full episode! 🔥👇
Can a Bitcoin Treasury company disrupt an entire industry?
That's exactly what @btconlyscott and his team at @XCEofficial $XCE are trying to achieve.
And their latest acquisition offers a glimpse of what's possible:
🔥 Revenue nearly doubled to £3.63M
🔥 8.216 BTC added to the balance sheet
🔥 Just £150K in net cash outlay
🔥 Bitcoin per share increased by over 11%
But here's where it gets interesting. $XCE isn't simply accumulating Bitcoin.
It's building a double flywheel that combines two powerful growth engines:
→ Acquiring profitable, cash-generating recruitment businesses
→ Accumulating Bitcoin and growing BTC per share
The more the operating business grows, the stronger the Bitcoin Treasury becomes.
And the stronger the Bitcoin Treasury becomes, the more attractive $XCE becomes to future acquisitions, employees, and investors.
Scott's ambitions?
- 1,000 BTC on the balance sheet
- £100M in annual revenue
- Disrupting the executive recruitment industry
We also explored the potential role of Digital Credit, the lessons from $MSTR, $ASST and $SWC, and why the next Bitcoin bull market could take this model to an entirely different level.
A fascinating conversation about entrepreneurship, capital allocation, and how Bitcoin could transform traditional businesses.
00:45 Introduction: Scott Ellam, CEO of XCE
01:30 XCE's Double Flywheel: Bitcoin Treasury Meets Business Acquisitions
05:42 XCE's First Acquisition: Doubling Revenue and Growing Bitcoin per Share
10:36 Why the Recruitment Industry Is Perfect for Bitcoin Adoption
11:52 Bitcoin Treasury M&A: Why Industry Expertise Matters
15:31 XCE's Roadmap: 100 to 1,000 BTC and £100M in Revenue
17:58 The Next Milestone: Scaling XCE and Reaching More Recruiters
21:32 Could XCE Become a Bitcoin-Backed Financial Powerhouse?
24:23 Digital Credit: Could STRC, SATA and MORE Fit XCE's Strategy?
27:12 Will XCE Issue Its Own Digital Credit Instrument?
30:32 How Smarter Web Is Paving the Way for UK Bitcoin Treasuries
32:18 Is Bitcoin Adoption Accelerating in the Recruitment Industry?
37:01 What Happens to XCE in the Next Bitcoin Bull Market?
39:45 XCE's Acquisition Strategy and Bitcoin Recruitment Opportunities
41:27 Where to Find Scott Ellam and XCE
Watch the full episode 👇
Did Strategy spend over $1 BILLION on $STRC buybacks… for virtually no measurable impact on price?
@_Adrian from @TNorth is back, challenging some of the biggest narratives in Bitcoin Treasuries and Digital Credit.
And his research raises some uncomfortable questions.
We went deep into:
→ $STRC buybacks: Why their impact on price becomes statistically indistinguishable from zero once other market factors are accounted for.
→ Daily dividends: Is Strategy $MSTR overengineering $STRC without addressing what actually drives its price?
→ USD reserves: Does holding billions in cash really make Digital Credit safer, or are we seeing diminishing returns?
→ Strive $ASST: Are $SATA's investor protections and disciplined USD reserve strategy really giving it an edge over $STRC?
→ $STRC vs. $SATA: Why Bitcoin, parent equities, and the broader Digital Credit market are the real drivers of price action.
→ Market intervention: Are Strategy's buybacks signaling weakness rather than strength to the market?
→ Bitcoin Treasury KPIs: Why BTC Yield, amplification ratios, and Bitcoin per share don't necessarily translate into investor returns.
→ The future of $MSTR: Why the common equity ATM could remain Strategy's most powerful capital-raising engine.
But here's what makes this conversation particularly interesting.
Despite being critical of Strategy's recent financial engineering, Adrian remains extremely bullish on its long-term future.
One of our most analytically rigorous deep dives into Bitcoin Treasuries and Digital Credit yet.
00:00 Intro: Adrian Morris Returns to One Chair Podcast
01:21 STRC vs. SATA: Why Is Strive Losing Its Edge?
04:01 Do Daily Dividends Actually Help STRC Trade at Par?
07:11 True North Research: What Really Drives STRC's Price?
14:55 Are Strategy's Buybacks Delivering Diminishing Returns?
18:26 Does Strategy's USD Reserve Actually Support STRC?
22:23 STRC vs. SATA: How Much Cash Reserve Is Enough?
28:48 Would Stronger Investor Protections Fix STRC?
34:18 Daily vs. Semi-Monthly Dividends: Is Strategy Overengineering STRC?
38:54 Is Strategy Listening Too Much to Bitcoin Twitter/X?
43:35 Should Strategy Copy Strive's Podcast and Media Strategy?
48:20 Why Strategy Needs More Data-Driven Investor Communication
50:26 Did Strategy Ignore the Warning Signs in STRC Buybacks?
53:56 Why MSTR's Common Stock ATM Could Dominate the Next Decade
01:00:51 Could Strategy Become a Bitcoin and AI Powerhouse?
01:01:55 Where to Find Adrian Morris and True North Research
Watch the full episode 👇
$STRC and $SATA have shown the potential of digital credit in the US.
@smarterwebuk is bringing MORE to the UK.
@AlexandreLaizet argues that the next big opportunity lies in the eurozone.
Massive credit markets. Little competition. Huge potential.
The next Bitcoin bull market could unleash an entirely new level of competition among Bitcoin Treasury companies.
And Europe might be the biggest surprise.
In Episode 5 of Inside the Walls, @AlexandreLaizet and I went deep into the next phase of Bitcoin Treasuries.
We discussed:
→ Why amplification could be the defining factor in outperforming $BTC
→ The race for the fastest horse: Strive $ASST accelerating Bitcoin accumulation, Smarter Web $SWC gearing up with $MORE, and Capital B $ALCPB positioning itself as Europe's potential dark horse
→ Strategy $MSTR buying back $STRC: smart capital allocation or fighting the market?
→ Why European capital markets could give Bitcoin Treasury companies a structural advantage
→ How Digital Credit ($STRC, $SATA, $MORE) could unlock an entirely new wave of institutional capital
→ What happens in 2027 when Bitcoin appreciation, equity issuance, and Digital Credit start reinforcing each other
As Bitcoin appreciates, these companies don't just become more valuable. Their capacity to raise capital and accumulate even more Bitcoin could expand dramatically.
And when equity and Digital Credit markets are firing simultaneously, the pace of accumulation could reach an entirely different level.
The race for the fastest horse is only getting started.
Fantastic discussion with Alexandre on where this industry is heading.
00:00 Intro: Bitcoin Treasury News, Strategy & Strive
03:35 Bitcoin Treasury Amplification: Who Has the Biggest Advantage?
10:30 How Much Amplification Is Too Much?
21:07 STRC Buybacks: Is Strategy Fighting the Market?
28:18 The Fastest Horse: Strive vs Strategy vs Smarter Web vs Capital B
41:20 Why European Bitcoin Treasuries Could Outperform the US
48:48 Can Bitcoin Treasury Companies Expand Across Borders?
55:01 Bitcoin Treasury Outlook: What Comes Next in 2027?
01:00:09 Outro: Reflexive Growth and the Road Ahead
Watch the full episode 👇
The next Bitcoin bull market could unleash an entirely new level of competition among Bitcoin Treasury companies.
And Europe might be the biggest surprise.
In Episode 5 of Inside the Walls, @AlexandreLaizet and I went deep into the next phase of Bitcoin Treasuries.
We discussed:
→ Why amplification could be the defining factor in outperforming $BTC
→ The race for the fastest horse: Strive $ASST accelerating Bitcoin accumulation, Smarter Web $SWC gearing up with $MORE, and Capital B $ALCPB positioning itself as Europe's potential dark horse
→ Strategy $MSTR buying back $STRC: smart capital allocation or fighting the market?
→ Why European capital markets could give Bitcoin Treasury companies a structural advantage
→ How Digital Credit ($STRC, $SATA, $MORE) could unlock an entirely new wave of institutional capital
→ What happens in 2027 when Bitcoin appreciation, equity issuance, and Digital Credit start reinforcing each other
As Bitcoin appreciates, these companies don't just become more valuable. Their capacity to raise capital and accumulate even more Bitcoin could expand dramatically.
And when equity and Digital Credit markets are firing simultaneously, the pace of accumulation could reach an entirely different level.
The race for the fastest horse is only getting started.
Fantastic discussion with Alexandre on where this industry is heading.
00:00 Intro: Bitcoin Treasury News, Strategy & Strive
03:35 Bitcoin Treasury Amplification: Who Has the Biggest Advantage?
10:30 How Much Amplification Is Too Much?
21:07 STRC Buybacks: Is Strategy Fighting the Market?
28:18 The Fastest Horse: Strive vs Strategy vs Smarter Web vs Capital B
41:20 Why European Bitcoin Treasuries Could Outperform the US
48:48 Can Bitcoin Treasury Companies Expand Across Borders?
55:01 Bitcoin Treasury Outlook: What Comes Next in 2027?
01:00:09 Outro: Reflexive Growth and the Road Ahead
Watch the full episode 👇