Transcript
A (0:00)
Welcome back to the Bitcoin Treasuries podcast. I'm Tim Kotsman. I'm here with Chris Reed of the Bitcoin Mindset podcast. Chris, thanks for joining us today.
B (0:08)
Hey, thanks for having me, Tim.
A (0:11)
Can you tell us a little bit about your background, your journey to bitcoin? I don't think I've heard the story yet.
B (0:17)
Yeah, so, like, a lot of people found bitcoin as kind of like a speculation in 2017 and was fortunate enough to find safety bitcoin Standard. And in 2018, I'd say 2018, 2019 was the, you know, going down the, the reading rabbit hole around just what bitcoin was and monetary history and things I had never studied before. I had, you know, speculated around markets since about 2015, traded everything from, you know, commodities to levered gold mining, ETFs back in 1516 and biotech stocks, things like that. And that speculation led me to bitcoin and again found Bitcoin standard and several books that Andreas Wentes, some of the early pioneers in bitcoin, that really helped me with the framework with it that turned into, hey, bitcoin's the best Asset, alongside Robert Kiyosaki, Rich Dad, Poor dad, another seminal book for me, it was like, all right, what's the best asset? And through my experience and Peter on markets, figured out bitcoin was the best asset ever since then. And from there, anything that's been kind of bitcoin laced with MSTR starting in August 2020, then obviously with Stretch and some of the other products of the last year and a half or so. Just been really interested in that.
A (1:31)
What's your kind of general take general view on bitcoin treasury companies, maybe from like a macro general helicopter view. And then let's get into your reaction to the earnings call that strategy just had yesterday evening.
B (1:48)
Yeah, I mean, they kind of had their IPO moment in a way, almost kind of like a 99 or 2000 moment with some from bitcoin treasury companies, in my opinion, in 2024, 2025. It was interesting because, you know, Sailor and, and the team, they had been having conferences and talking about companies being on a bitcoin standard for a long time, but it kind of just hit that escape velocity after the election in 2024. So that was that kind of moment in 25. And now you've had this washout and now it's going to come down to companies that operate at a high level. It's more than just jawboning saying, oh, yeah, we're going to buy bitcoin and we're on a bitcoin standard. That's great. But who's going to operate at the highest level? And one of the things I put out, I guess maybe it's been a couple of years ago about with strategy is they were having not just them, but companies having to defend their M navigation, having to have an operation around their business, you know, how their playbook was going to get tested. And we saw that the last three to six months. So a lot of these companies, you know, need to have their own playbook. Now there's a lot of jurisdictional headwinds, potentially depending on what country they're in, what kind of capital market they're able to tap into. So there's a lot of nuance to it. But you know, right now it's going to be the, the ones that are operating very high level, kind of across the top.