True North Podcast

The crew kicks off Season 3 with a balance sheet check-in on Strategy and Strive: Strategy's 950 BTC purchase, STRC buybacks, cash versus convertible debt, and Strive's growing Bitcoin position, dividend coverage, and potential warrant capital. The crew then breaks down why digital credit changes the probability of outcomes versus traditional credit, draws parallels between Strategy and Berkshire...

Agenda: -Bitcoin Balance Sheet update -"The Hole" paper review -Private Credit / Landscape -"Panic" clip Thank you to our sponsors: BitGo: https://www.bitgo.com/ SALT: https://saltlending.com/ ABUNDANT MINES: https://abundantmines.com Disclaimer: The content in this video is for informational and educational purposes only and should not be considered financial advice. We are not financial advisors...

The crew examines Bitcoin’s technical setup as price converges around the power-law floor, the 200-week moving average, and the short-term holder realized price, then asks whether the latest bottoming signals point toward a durable bull-market confirmation. From there, the conversation moves through financial repression, Treasury buybacks, structurally higher long-term rates, the housing market, r...

Agenda: Balance Sheet and Credit Quality Update Buybacks/MSTR/US Treasury Strategy Q/A Thank you to our Sponsors: BitGo: https://www.bitgo.com/ SALT: https://saltlending.com/ ABUNDANT MINES: https://abundantmines.com Disclaimer: The content in this video is for informational and educational purposes only and should not be considered financial advice. We are not financial advisors, and you should c...

The crew takes apart the capital structure behind Strategy’s expanding Bitcoin balance sheet: the week’s common-stock issuance, Bitcoin sale, STRC repurchase, cash-reserve build, and the argument that a liquid, divisible BTC reserve changes how investors should think about funding preferred dividends. From there, the conversation moves through net leverage, refinancing optionality, the emerging di...

Bring your thinking caps, we're getting into the math this week. Agenda: ColdCard Anxiety Suits & BTC Strategy B/S Moves & Updates MATH (Entropy / Randomness / Risk Probability) Collateral Exercises Thank you to our Sponsors: BitGo: https://www.bitgo.com/ SALT: https://saltlending.com/ ABUNDANT MINES: https://abundantmines.com Disclaimer: The content in this video is for informational and educatio...

🎛️ As of this recording, 7/22/26, Strategy's (MSTR) performance: Open: $100.06 Close: $100.01 Volume: ~ 13M Shares mNAV: ~ 1.03 Market Cap: ~ $37.9B BTC: 843,775 ⏱️ TIMESTAMPS & INSIGHTS: 0:00 - True North Episode 74 Loading 1:17 - Intro & Agenda 4:13 - MSTR Balance Sheet Update: Cash raised, Bitcoin holdings 6:55 - MSTR Model Evolution: Balance sheet, dividend coverage 9:55 - MSTR Credit Quality:...

Agenda: What is Capital ? Using Bitcoin as Capital Math of Q2 2026 Balance Sheet Management Thank you to our Sponsors: BitGo: https://www.bitgo.com/ SALT: https://saltlending.com/ ABUNDANT MINES: https://abundantmines.com Disclaimer: The content in this video is for informational and educational purposes only and should not be considered financial advice. We are not financial advisors, and you sho...

Agenda: New Capital Framework Leverage Design, Market Discussion Thank you to our Sponsors: BitGo: https://www.bitgo.com/ SALT: https://saltlending.com/ ABUNDANT MINES: https://abundantmines.com Disclaimer: The content in this video is for informational and educational purposes only and should not be considered financial advice. We are not financial advisors, and you should consult with a qualifie...

Agenda: Lay of the Land Digital Capital / Digital Credit Volatility / Credit Spam War Discussion Q&A Thank you to our Sponsors: BitGo: https://www.bitgo.com/ SALT: https://saltlending.com/ ABUNDANT MINES: https://abundantmines.com Disclaimer: The content in this video is for informational and educational purposes only and should not be considered financial advice. We are not financial advisors, an...

Agenda: SpaceX & Broad Capital Markets Macro BTC Prague Takeaways STRC & SATA Analysis & Credit Instruments Fed Meeting Thank you to our Sponsors: BitGo: https://www.bitgo.com/ SALT: https://saltlending.com/ ABUNDANT MINES: https://abundantmines.com Disclaimer: The content in this video is for informational and educational purposes only and should not be considered financial advice. We are not fin...

Agenda: MSTR Balance Sheet Math Reserve Status STRC & Pref Price Action Risk Relativity Thank you to our Sponsors: BitGo: https://www.bitgo.com/ SALT: https://saltlending.com/ ABUNDANT MINES: https://abundantmines.com Disclaimer: The content in this video is for informational and educational purposes only and should not be considered financial advice. We are not financial advisors, and you should...

🎛️ As of this recording, 5/27/26, Strategy's (MSTR) performance: Open: $156.76 Close: $154.20 Volume: ~ 11.89M Shares mNAV: ~1.23 Market Cap: ~ $54B BTC: 843,738 ⏱️ TIMESTAMPS & INSIGHTS: 00:00:00 - Intro And NFA: Educational discussion and disclaimers 00:02:45 - Market Structure Overview: Bitcoin volatility and AI trade setup 00:04:36 - Amplification Dynamics: Dividend coverage and leverage impro...

Agenda: STRC analysis (VWAP / risk) Market Benchmarks & Capital Flow Comparisons Bitcoin Supply, Demand & Price Impact 4.Yield, Performance & Strategic Positioning Have questions? Ask on our website! https://tnorth.com/ask Thank you to our Sponsors: BitGo: https://www.bitgo.com/ SALT: https://saltlending.com/ ABUNDANT MINES: https://abundantmines.com Disclaimer: The content in this video is for in...

🎛️ As of this recording, 5/14/26, Strategy's (MSTR) performance: * Open: $177.85 * Close: $186.97 * Volume: ~15.9M Shares * mNAV: ~1.23 * Market Cap: ~ $65.5B * BTC: 818,869 ⏱️ TIMESTAMPS & INSIGHTS: * 00:00:00 - Intro And NFA: Educational discussion and disclaimers * 00:07:05 - Daily Dividend Breakthrough: First US security with daily payouts * 00:14:03 - Stablecoin Arbitrage Surface: Dividend fr...

🎛️ As of this recording, 5/6/26, Strategy's (MSTR) performance: * Open: $184.57 * Close: $186.82 * Volume: ~14.3M Shares * mNAV: ~1.28 * Market Cap: ~ $64B * BTC: 818,334 ⏱️ TIMESTAMPS & INSIGHTS: * 00:00:00 - Intro: TN trailer and not financial advice * 00:03:06 - Recent Market Reactions: Strategy earnings call sparks polarized sentiment * 00:05:17 - Selling Bitcoin And Converts: BTC sale implica...

🎛️ As of this recording, 4/22/26, Strategy's (MSTR) performance: * Open: $174.93 * Close: $179.36 * Volume: ~31.9M Shares * mNAV: ~1.25 * Market Cap: ~ $60.1B * BTC: 815,061 ⏱️ TIMESTAMPS & INSIGHTS: * 00:00:00 - Trailer: Preview of key topics and themes * 00:03:00 - Recent News: Jeff on rapid market developments * 00:06:40 - Balance Sheet Growth: Assets rise from recent tailwinds * 00:08:13 - Lev...

🎛️ As of this recording, 4/15/26, Strategy's (MSTR) performance: * Open: $139.75 * Close: $143.54 * Volume: 13.9M Shares * mNAV: ~1.15 * Market Cap: ~ $47.9B * BTC: 780,897 ⏱️ TIMESTAMPS & INSIGHTS: * 00:00:00 - Intro: TN trailer and not financial advice * 00:03:33 - True North Agenda: Purpose, hosts, and show structure * 00:05:19 - Team First Takes: Macro outlook, Bitcoin, and sentiment * 00:13:5...

Agenda: Volume & Liquidity Sharpe Ratio vs Sortino Ratio - Risk / Return Metrics Market Happenings (MS / Citadel / Blackrock) When MSTR 1M BTC? TN Community Questions Thank you to our Sponsors: BitGo: https://www.bitgo.com/ Horizon: https://joinhorizon.com/?ref=TRUENORTH Have questions? Ask the team here: https://tnorth.com/ask/ TRUE NORTH LINKS: True North Website: https://tnorth.com X: https://x...

🧭 True North episode 61: Bitcoin meets capital markets as investors explore digital credit, leverage, and macro risk. From MSTR aalysis to portfolio construction, the discussion breaks down adoption, liquidity dynamics, and why Bitcoin is reshaping capital allocation. 🎛️ As of this recording, 4/1/26, Strategy's (MSTR) performance: Open: $126.18 Close: $122.78 Volume: 15.4M Shares mNAV: ~1.19 Mark...

🧭 True North episode 60: 🎛️ As of this recording, 3/25/26, Strategy's (MSTR) performance: * Open: $144.99 * Close: $140.40 * Volume: 18.7M Shares * mNAV: ~1.19 * Market Cap: ~ $48.8 and 3B * BTC: 762,099 ⏱️ TIMESTAMPS & INSIGHTS: * 00:00:00 - Intro: Podcast setup and discussion scope * 00:02:18 - Market Events Overview: Macro news and volatility drivers * 00:04:52 - Information Warfare Shift: Soc...

🧭 True North episode 59: Explore how institutional flows, leverage, and digital credit are reshaping markets, driving Bitcoin demand, and setting up a massive capital reallocation with the True North team. 🎛️ As of this recording, 3/18/26, Strategy's (MSTR) performance: Open: $144.99 Close: $140.56 Volume: 21.3M Shares mNAV: ~1.22 Market Cap: ~ $44.64B BTC: 761,068 ⏱️ TIMESTAMPS & INSIGHTS: 00:00...

🧭 MSTR True North episode 58: A deep dive into Bitcoin’s evolving capital markets, covering digital credit, private credit risks, institutional adoption, and the financial innovations shaping the future of money, markets, and technology. 🎛️ As of this recording, 3/11/26, Strategy's (MSTR) performance: Open: $139.81 Close: $138.33 Volume: 15.6M Shares mNAV: ~1.21 Market Cap: ~ $46.16B BTC: 738,731...

🧭 MSTR True North episode 57: 🎛️ As of this recording, 3/5/26, Strategy's (MSTR) performance: * Open: $143.83 * Close: $146.44 * Volume: 37.4M Shares * mNAV: ~1.22 * Market Cap: ~ $48.9B * U.S. Market Cap Ranking: ~#220 * BTC: 720,737 ⏱️ TIMESTAMPS & INSIGHTS: * 00:00:00 - Intro agenda framing: NFA context and True North overview * 00:02:50 - True North Event Insights: Global investors discuss Bi...

🧭 MSTR True North episode 56: The crew dives dive into Strategy’s capital structure, rising BTC per share, AI-driven disruption, and regulatory momentum that is brewing. Th team breaks down digital credit strength, supply math, and why this cycle may be structurally different. 🎛️ As of this recording, 2/18/26, Strategy's (MSTR) performance: Open: $127.63 Close: $125.20 Volume: 17.31M Shares mNAV:...