In Episode 26, MSTR True North Episode 26: The crew does a deep dive into MSTR, Bitcoin leverage, $STRK, and S&P 500 dynamics. Key discussion points include mstr true north origins, mstr financials, new markets, $strk’s purpose, $strk vs mstr. Market context: MSTR closed at $416.75 with mNAV at ~2.13.
Market Snapshot
- Date: 5/14/25
- MSTR Open/Close: $420.40 / $416.75
- Volume: 10,681,100 shares
- mNAV: ~2.13
- Market Cap: ~$113.94B
- U.S. Market Cap Rank: 84
- BTC Held: 568,840
Chapters
- 00:00:00 — Introduction: Podcast themes, tone, and guest introductions
- 00:05:35 — MSTR True North Origins: why it all started & the laser focus on BTC treasury companies
- 00:11:37 — MSTR Financials: BTC on balance sheet, leverage, equity strength and BTC Torque
- 00:17:35 — New Markets: Preferred stock & wildfire risk parallels
- 00:25:15 — $STRK’s purpose: High-yield fixed income meets Bitcoin exposure
- 00:32:14 — $STRK vs MSTR: Equity structure, mispricing, synthetic value
- 00:37:12 — Conference Recap: 2025 Strategy World highlights and community engagement
- 00:45:46 — Grain of Salt reveal: Vegas plans, documentary filming, team efforts
- 00:59:02 — Investor Relations: Digital shift, AI integration, Fong’s leadership
- 01:03:50 — LaDoger’s HQ trip: recap of his trip to DC
- 01:07:07 — Why torque, not leverage: Saylor’s reason for using Torque
- 01:13:30 — S&P 500: Inclusion mechanics, passive flows, market reaction
- 01:33:03 — Media Critique: Financial Times misrepresentation, narrative control
- 01:38:54 — Knowledge Gaps: Economic understanding, humility challenge and Grain’s rant
- 01:50:25 — Optimism vs Reality: Conference contrast, financial clarity
- 01:56:50 — Bitcoin treasury movement: escape velocity incoming and the adoption curve
- 02:18:40 — Final thought: The flywheel has initiated
Stay on Course. Get the Signal.
Subscribe for livestream reminders, key insights, and the occasional alpha drop. Straight from True North.