BITCOIN SEASON 2: Bears Are Wrong About Strategy’s Bitcoin Play

CoinDesk Podcast Network

Ed and Tim from Bitcoin Treasuries break down the corporate bitcoin strategy space, MicroStrategy's dominance, valuation challenges, and what's next for treasury companies in this volatile market.

Ed and Tim from Bitcoin Treasuries join us to talk about the explosive growth of bitcoin treasury companies, why traditional metrics don't work anymore, MicroStrategy's continued outperformance versus the Mag 7, mining companies losing narrative appeal, and their upcoming September 17th Bitcoin Treasuries Unconference in NYC.

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**Notes:**

• MSTR outperformed Mag 7 every day for a year

• Traditional PE ratios don't work for BTC cos

• MicroStrategy: $500M revenue, $75M profit

• Fixed income markets worth $4 trillion

• Many treasury cos trade below NAV

• Bitcoin gains counted as revenue now

Timestamps

00:00 Start

01:17 Conference & podcast

03:01 MSTR price lag

05:20 Market outlook

06:55 Why BTC treasury companies?

09:30 Comparing companies

15:03 Bearish BTC miners?

18:34 Future of treasury companies

22:20 Winner take most or all?

23:27 Attracting capital

26:23 Bitmex Report

28:56 Conference highlights

32:55 Wrap up

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