🧭 MSTR True North episode 31: Led by captain Solei, the crew does a deep dive on l the different Bitcoin treasury strategies, convertible notes, market sentiment, and how global investment dynamics—from the U.S. to Japan—are shaping the future of BTC-backed corporate finance. 🎛️ As of this recording, 6/25/25, Strategy's (MSTR) performance: Open: $384.83 Close: $388.67 Volume: 10,606,562 shares mNAV: 1.89 Market Cap: $108.67B U.S. Market Cap Ranking: 93 BTC: 592,345 ⏱️ TIMESTAMPS & INSIGHTS: 00:00:00 - Que the music 00:01:48 - Captain Solei & Agenda 00:04:06 - Future of converts: delta hedging, MSTR shorting & note-holder risks 00:09:36 - Market demand: Current conditions in demand & strategic selectivity 00:12:51 - Expanding the BTC economy: using acquisitions to justify higher multiples 00:17:15 - Tools for LBE growth: long-term play, tools for scaling strategy for future success 00:21:46 - Peeling back leverage: how capital structure impacts BTC price swings & delta hedging 101 00:26:15 - Debt risk: secured vs. unsecured debt & liquidation exposure 00:30:36 - Bailouts: can major holders buffer market failure contagion? 00:35:49 - Takeovers in the future?: activist models to acquire Bitcoin under distress 00:39:30 - Playbook analysis: MetaPlanet & the blueprint for treasury success 00:47:05 - BTC strategies: what defines a Bitcoin treasury vs. just holding BTC 00:52:40 - Levers driving sentiment: buybacks, NAV defense, and market signals 00:56:55 - Float: stock dilution, buybacks, and S&P 500 inclusion 01:10:14 - Types of investors: technical vs. fundamental perspectives 01:17:23 - Catalysts: regulatory deadlines and upcoming BTC triggers that drive MSTR appeal 01:20:08 - $STRK, $STRD & $STRF: product deep dive & BTC upside analysis 01:28:04 - BTC Prague 2025: conference insights, Lightning, and BTC adoption 01:33:00 - Euro/Japan market: investment culture lag & tax-advantaged accounts 01:38:33 - Accessibility: US investors lead in retail access & financial tools 01:41:05 - BTC treasury company niche in Prague: MSTR leads the charge with interest growing 01:45:00 - S&P 500 qualification status: the numbers that capture eligibility 01:47:50 - Moon math: the model behind landing on the moon 01:51:00 - IBIT/MSTR: trend line and analysis 01:55:50 - final thoughts SOCIAL MEDIA: X: https://x.com/PunterJeff X: https://x.com/BenWerkman X: https://x.com/nithusezni X: https://x.com/TimKotzman X: https://x.com/Z06Z07 X: https://x.com/Adrian_R_Morris X: https://x.com/RealTrollstein X: https://x.com/MasonFoard X: https://x.com/hillery_dan X: https://x.com/JBerneburg X: https://x.com/TheJesseMK X: https://x.com/thebitcoingal MSTR TRUE NORTH LINKS: True North Website: https://tnorth.com X: https://x.com/MSTRTrueNorth 🛒 MERCH: https://thehodlshop.com/collections/t... 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