True North Podcast

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:...

🧭 MSTR True North episode 55: We break down Strategy’s capital structure, mNAV, leverage, and the emerging digital credit markets. Learn more about how institutional capital actually moves in Bitcoin an how to think about risk in this marketplace. 🎛️ As of this recording, 2/11/26, Strategy's (MSTR) performance: Open: $133.68 Close: $126.07 Volume: 25.84M Shares mNAV: ~0.95 Market Cap: ~ $41.9B U....

🧭 MSTR True North episode 54: A deep dive into Bitcoin’s drawdown, macro liquidity, and why this cycle differs. We break down capital structure, leverage myths, margin-call fears, treasury concentration, short-risk asymmetry, and how convex balance sheets create explosive upside. 🎛️ As of this recording, 2/4/26, Strategy's (MSTR) performance: Open: $120.25 Close: $129.09 Volume: 23.8M Shares mNAV...

🧭 MSTR True North episode 53: The group does a deep dive into Bitcoin credit risk, preferred equity, leverage, and mNAV. Covers MSTR balance sheet math, metals vs Bitcoin flows, Tether reserves, credit models, macro signals, liquidity, and risk/reward across cycles. 🎛️ As of this recording, 1/28/26, Strategy's (MSTR) performance: Open: $164.45 Close: $158.45 Volume: 14.08M Shares mNAV: 0.91 Marke...

🧭 MSTR True North episode 52: The crew discusses Bitcoin, digital credit, and MSTR’s capital structure. Tune in to hear analysis on leverage, mNAV, yield curve control and macro deficits, plus Ray Dalio’s gold vs Bitcoin view and why credit drives demand. 🎛️ As of this recording, 1/21/26, Strategy's (MSTR) performance: Open: $161.27 Close: $163.81 Volume: 18,440,820 Shares mNAV: 1.07 Market Cap:...

🧭 MSTR True North episode 51: 🎛️ As of this recording, 1/14/26, Strategy's (MSTR) performance: Open: $178.64 Close: $179.33 Volume: 40,257,000 Shares mNAV: 1.07 Market Cap: $57.32B U.S. Market Cap Ranking: #192 BTC: 687,410 ⏱️ TIMESTAMPS & INSIGHTS: 00:00:00 - Intro: NFA, agenda and True North overview 00:04:50 - Capital Structure Overview: MSTR and STRC balance sheet changes 00:07:27 - Leverage...

🧭 MSTR True North episode 50: The crew does a deep dive into Bitcoin treasury strategy, mNAV, leverage, and capital structure. The discussion includes a healthy debate about ATM issuance, liquidity, credit, and short risk, then zooms out to macro shocks, pensions, and Bitcoin’s role in capital allocation. 🎛️ As of this recording, 1/7/26, Strategy's (MSTR) performance: Open: $163.45 Close: $161.83...

🧭 MSTR True North episode 49: This week the crew highlights their experience at Bitcoin Mena, status of sovereign adoption, balance sheet leverage, mNAV, digital credit, AI capital shifts, and why patient capital wins when price disconnects from value in Bitcoin and equity markets. 🎛️ As of this recording, 12/17/25, Strategy's (MSTR) performance: Open: $167.75 Close: $160.38 Volume: 19,144,900 Sh...