Firms holding Bitcoin in their treasuries have shifted from convertible bonds toward perpetual preferred equity, and Mike Treidl details the reasons why. He analyzes how preferred instruments enable companies like Strategy to postpone payouts while avoiding default, and discusses how a return of preferreds to par value might supply Strategy with a secondary mechanism for purchasing Bitcoin. In addition, he clarifies how metrics like sats per share and leverage free of margin calls deliver advantages that surpass simply keeping Bitcoin natively.
Chapters:
0:00 – Mike Treidl on Bitcoin’s Rebound to $83K
0:50 – From Morgan Stanley to Blue Coin Capital: Bridging Wall Street and Bitcoin
1:49 – Risk Budget First: How to Size a Bitcoin Allocation
4:11 – Seller Exhaustion and Bitcoin Treasury Companies
5:27 – Why Treasury Companies Moved From Convertibles to Preferreds
6:47 – What Strategy’s Preferreds Returning to Par Means for Bitcoin
8:13 – Sats Per Share: Leverage Without Margin Calls
9:11 – Pensions, Endowments and the Next Wave of Institutional Adoption
11:23 – Blue Coin’s BarclayHedge Ranking and Buying STRC Below Par
12:30 – Bitcoin’s Biggest Opportunities and Risks Over the Next Two Years
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Originally published at https://bitcoinmagazine.com/videos/blue-coin-capital-cio-mstrs-btc-buying-engine-is-about-to-ignite-mike-treidl.
