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Bitcoin Treasury Strategy

Analysis and insights on how public companies are integrating Bitcoin into their balance sheets, from convertible bond financing to BTC yield metrics.

92 episodes · 21 research pieces

Bitcoin treasury strategy has emerged as one of the most significant trends in corporate finance. Pioneered by Strategy (formerly MicroStrategy), the approach involves public companies holding Bitcoin as a primary treasury reserve asset.

True North covers every dimension of this movement, from the mechanics of convertible bond financing to the metrics that matter (mNAV, BTC yield, market cap premium) to the expanding universe of companies adopting the strategy worldwide.

Latest on Bitcoin Treasury Strategy

Episode

The Bitcoin Bears Are Wrong

Tad Smith is very bullish on Bitcoin, and the fact that so many people aren't makes him even more bullish. Tad joins host Joe Burnett to discuss the Fed's surprise rate hike, Treasury Secretary Bessent's path toward yield curve control, and how AI is reshaping jobs and markets. They also cover Tad's barbell portfolio, the lessons of STRC's summer selloff, Bitcoin treasury companies, and why he believes all roads lead to Bitcoin.

Sep 24, 2026 • 58:21 Watch →
Analysis

Trust Is Civilization's Oldest Technology

Jeff Walton reads civilization as a stack of trust-extension technologies — from the oath and coined money to the joint-stock company and the central bank — and argues Bitcoin and digital credit are the next layers going in as the current architecture cracks at the base.

Aug 13, 2026 Read →
Episode

Strategy ($MSTR), Bitcoin, Digital Credit, & More

The Income Show is back with host Joe Burnett, joined by Archie from the Bitcoin Archive to discuss the tension between traditional HODLing culture and the rising financialization of Bitcoin. They break down portfolio strategies for onboarding new users, the macroeconomic role of corporate treasuries, and the metrics signaling the bottom of the current bear market. They also analyze a five-year outlook for global capital, evaluating both the bull and bear cases for Bitcoin and digital credit instruments.

Jul 23, 2026 • 49:04 Watch →

All episodes (92)

True North Weekly (41)

2026

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2024

The Hurdle Rate (37)

2026

2025

The Income Show (8)

True North Now (6)

Research (21)

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True North is for informational and educational purposes only. Nothing presented should be considered investment advice or an offer of any security or investment product. Consult your own investment and tax advisors. Full disclaimer.