One Chair Podcast

One Chair Podcast
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Your guide to the companies stacking Bitcoin. We track the corporate treasuries holding Bitcoin and explore their strategies. We bring you all the insights, stories, and numbers that are reshaping treasury management in the age of Bitcoin. Whether you’re an investor, Bitcoiner, or finance pro, stay informed on who’s buying, holding, and leading Bitcoin adoption at the highest levels.

  1. 3d ago

    MSTR Is Buying Back STRC. ASST Is Buying 4,045 Bitcoin.

    Strive is closing in on becoming the world's #2 Bitcoin Treasury company. But can its explosive growth continue?In just 13 months, Strive (ASST) has gone from holding zero Bitcoin to potentially accumulating over 44,000 BTC, challenging Metaplanet for the second-largest publicly traded corporate Bitcoin treasury. And with its massive $700 million SATS IPO, Strive is opening another capital-raising engine that could accelerate its Bitcoin accumulation even further. Meanwhile, Strategy (MSTR) has spent over $1+ billion buying back STRC preferred shares, yet the stock continues to struggle to return to its $100 par value. Is Strategy's Digital Credit model running into trouble? Has Strive built a better Bitcoin accumulation machine? And could preferred equities fundamentally transform capital markets? In this episode of One Chair Podcast, we're joined by Tyler Rowe, Head of Content at BitcoinTreasuries.net, to break down the latest developments reshaping the Bitcoin Treasury industry. 🔥 What we cover: - Strive's incredible Bitcoin accumulation: How ASST could reach over 44,000 BTC and challenge Metaplanet for the #2 position. - The $700M SATS IPO: Why Strive's new preferred stock offers an effective yield of approximately 15%, and the risks investors shouldn't ignore. - Strategy's STRC buybacks: Why more than $1 billion in repurchases hasn't restored the preferred stock to par. - STRC vs SATA vs SATS: How these Digital Credit instruments compare in yield, risk, capital structure, and Bitcoin coverage. - The race to 100,000 BTC: Could Strive reach this milestone by the end of 2027? - Bitcoin amplification: Why Strive's preferred equity strategy could generate outsized returns for common shareholders in a Bitcoin bull market. - Metaplanet's US expansion: How Super Planet (SUPA) could unlock access to American capital markets. - The future of Bitcoin Treasury companies: Why perpetual preferred equities could become a defining financial innovation of this cycle. Follow our guest: - Tyler Rowe: https://x.com/TylerCompiler - BitcoinTreasuries.net: https://x.com/BTCtreasuries- BitcoinTreasuries.net: https://www.youtube.com/@BitcoinTreasuriesNet - BitcoinTreasuries.net: https://bitcointreasuries.net/ - Treasury Orange: https://www.youtube.com/@UCXA4-UZCUf87wBA6TromGxQ 00:00 Intro: Strategy, Strive & the Bitcoin Treasury Race 01:16 Strategy's STRC Buyback: Is It Working? 02:33 Should Strategy Raise STRC's 12% Dividend? 06:01 Are STRC Buybacks Signaling Weakness? 10:08 What Happens to STRC if Bitcoin Hits $100K? 10:58 Strive's Explosive Growth: 4,045 BTC in One Week 13:34 Why Strive Is the Fastest-Growing Bitcoin Treasury 15:42 SATS Explained: Is a 15% Yield Worth the Risk? 19:00 Can SATS Push SATA Back to $100 Par? 24:20 Could Strive Become the Next Strategy? 26:59 Can Strive Reach 100,000 BTC by 2027? 30:17 Bitcoin Amplification: Strive vs Strategy 32:26 Metaplanet's US Expansion: Super Planet (SUPA) 35:23 The Future of Bitcoin Treasury Companies 38:16 Where to Follow Tyler Rowe & BitcoinTreasuries.net Big thanks to Little Bubble for allowing us to use his song: "One Chair": https://open.spotify.com/track/0XW7JgR2Nlg7WXGOeVT64h?si=a344b82984f74f81 DISCLAIMER: This is not is financial advice. This podcast is for educational and entertainment purposes only. Thank you for listening! Follow us on: - X: https://x.com/OneChairPod - Youtube: https://www.youtube.com/@OneChairPod Follow the crew on X: - Yves: https://x.com/GrafYves - Quentin: @quentinisonx - Dario: @dariostackssats Referral links: - Roxom: https://roxom.com/auth/signup?referral=a7m4wx

  2. Oct 15

    ASST's New 15% SATS Preferred: Higher Yield, Higher Risk?

    Is Wall Street mispricing Bitcoin-backed credit? And could the next wave of institutional adoption fundamentally change how investors own Bitcoin? Digital Credit is expanding rapidly. Strive (ASST) is introducing SATS, a new perpetual preferred stock offering a 15% dividend. Smarter Web (SWC) has launched MORE in the UK. And Strategy (MSTR) continues to reshape the market with STRC. In Episode 6 of Inside the Walls, we explore the accelerating evolution of Bitcoin Treasury companies, the institutional opportunity in Digital Credit, the macroeconomic forces shaping Bitcoin's next move, and why the future of Bitcoin custody might look very different from what many Bitcoiners imagined. In this episode: 🔸 The Digital Credit Revolution: Strive's new SATS preferred stock, offering a 15% dividend, and what its introduction means for SATA, Strategy's STRC, and the broader Bitcoin credit market. 🔸 Smarter Web's MORE Launch: Why TOBAM participated in the £10 million offering, how institutional investors evaluate its risk-adjusted returns, and why European Digital Credit could become a major opportunity. 🔸 Is STRC Fundamentally Mispriced? André Dragosch examines Strategy's credit rating, dividend yield, and the potential disconnect between Bitcoin-backed securities and traditional high-yield markets. 🔸 The Next Institutional Asset Class: Could Bitcoin-backed perpetual preferred stocks eventually become part of diversified credit ETFs, institutional portfolios, and traditional income strategies? 🔸 Inflation, the Fed & Bitcoin: With US inflation accelerating and financial conditions tightening, could Bitcoin and Bitcoin Treasury companies benefit from a rotation away from expensive equities, AI stocks, and gold? 🔸 The Future of Bitcoin Custody: Following a reported Ledger supply-chain compromise, we challenge one of Bitcoin's most deeply held principles: Not your keys, not your coins. Is institutional custody inevitable as Bitcoin adoption scales? Bitcoin is no longer simply entering traditional finance through ETFs. It is beginning to reshape the instruments, capital structures, and institutions operating within it. Follow the crew on X: - Alexandre Laizet: https://x.com/AlexandreLaizet - André Dragosch: https://x.com/Andre_Dragosch - Yves Choueifaty: https://x.com/YChoueifaty - Valentin Kosanovic: https://x.com/Kosanovic_V Follow Capital B on Youtube: https://www.youtube.com/@UCEXICiXdOXjh0jigU64inPg 00:00 Bitcoin Market Update: Inflation, MSTR, Strive & Smarter Web 03:05 The Digital Credit Revolution: STRC, SATA, SATS & MORE 07:25 Smarter Web's MORE: Was the £10M Launch a Success? 12:37 Can Bitcoin-Backed Credit Become an Institutional ETF? 15:52 Retail vs. Institutional Demand: Who Will Drive Digital Credit? 23:24 Can Credit Ratings Unlock Institutional Bitcoin Adoption? 27:38 Is STRC Mispriced? Bitcoin Credit vs. Traditional High-Yield Bonds 31:41 Why SATS Actually Strengthens SATA 39:05 Strive's 15% SATS Dividend: Is the Yield Sustainable? 41:39 Inflation Shock: Will the Fed Raise Interest Rates Again? 45:53 When Could Billions Rotate Into Bitcoin? 47:15 TOBAM Challenges “Not Your Keys, Not Your Coins” 51:40 Is Institutional Bitcoin Custody Inevitable? 55:55 How TOBAM Secured Bitcoin Before Institutional Custodians 58:03 The Future of Bitcoin Custody: Multisig vs. Self-Custody 59:42 Final Thoughts: Bitcoin's Institutional Future Follow us on: - X: https://x.com/OneChairPod -Youtube: https://www.youtube.com/@OneChairPod Follow the One Chair crew on X: - Yves: https://x.com/GrafYves - Quentin: @quentinisonx - Dario: @dariostackssats DISCLAIMER: This is not is financial advice. This podcast is for educational and entertainment purposes only. Thank you for listening!

  3. Oct 13

    MSTR Started a Revolution. This CEO Wants to Orange-Pill an Entire Industry.

    What if a Bitcoin Treasury company could disrupt an entire industry? XCE (Connecting Excellence Group) nearly doubled its revenue with one acquisition, added Bitcoin to its balance sheet, and increased Bitcoin per share. CEO Scott Ellam says this is only the beginning. In this One Chair Podcast episode, we sit down with XCE founder and CEO Scott Ellam to explore an ambitious new business model in the Bitcoin Treasury space. Unlike Bitcoin Treasury companies focused on capital markets, XCE is combining two powerful growth engines: acquiring profitable, cash-generating recruitment businesses and accumulating Bitcoin on its balance sheet. With its first acquisition, XCE has already demonstrated what this model can achieve: 🔥 97.4% increase in pro forma annual revenue, reaching approximately £3.63 million🔥 8.216 BTC added through the acquisition of James Gray Recruitment & Engineering🔥 Approximately £150,000 net cash cost to complete the acquisition🔥 Over 81 BTC on the balance sheet🔥 11.26% Bitcoin Yield for the quarter But the ambitions go much further. Scott outlines XCE's roadmap toward 100, 200, 500, and eventually 1,000 BTC, alongside revenue milestones of £10 million, £25 million, £50 million, and £100 million. And perhaps most importantly, we discuss how XCE's decentralized acquisition model could accelerate corporate Bitcoin adoption far beyond the recruitment industry. In this episode, we explore:→ How XCE's double flywheel combines Bitcoin accumulation with profitable business acquisitions→ Why XCE's first acquisition nearly doubled revenue while increasing Bitcoin per share→ How decentralized M&A could transform the executive recruitment industry→ XCE's roadmap toward 1,000 BTC and £100 million in annual revenue→ Whether XCE could eventually issue its own Digital Credit instrument→ What STRC, SATA, and MORE mean for the future of Bitcoin-backed financial products→ How a Bitcoin bull market could accelerate XCE's growth strategy→ Why executive recruitment could become an unexpected catalyst for global corporate Bitcoin adoptionFollow our Guest:- Scott Ellam: https://x.com/btconlyscott- XCE - Connecting Excellence: https://x.com/XCEofficial- XCE - Connecting Excellence: https://www.linkedin.com/company/xce-connecting-excellence/- XCE - Connecting Excellence: https://xce.io/ - Scott's presentation at Bitcoin Treasuries Conference: https://www.youtube.com/live/DxNiM5st20o?si=I10RB6MhZoJlCSX-&t=916200:00 Introduction: Scott Ellam, CEO of XCE01:30 XCE's Double Flywheel: Bitcoin Treasury Meets Business Acquisitions05:42 XCE's First Acquisition: Doubling Revenue and Growing Bitcoin per Share10:36 Why the Recruitment Industry Is Perfect for Bitcoin Adoption11:52 Bitcoin Treasury M&A: Why Industry Expertise Matters15:31 XCE's Roadmap: 100 to 1,000 BTC and £100M in Revenue17:58 The Next Milestone: Scaling XCE and Reaching More Recruiters21:32 Could XCE Become a Bitcoin-Backed Financial Powerhouse?24:23 Digital Credit: Could STRC, SATA and MORE Fit XCE's Strategy?27:12 Will XCE Issue Its Own Digital Credit Instrument?30:32 How Smarter Web Is Paving the Way for UK Bitcoin Treasuries32:18 Is Bitcoin Adoption Accelerating in the Recruitment Industry?37:01 What Happens to XCE in the Next Bitcoin Bull Market?39:45 XCE's Acquisition Strategy and Bitcoin Recruitment Opportunities41:27 Where to Find Scott Ellam and XCEBig thanks to Little Bubble for allowing us to use his song: "One Chair": https://open.spotify.com/track/0XW7JgR2Nlg7WXGOeVT64h?si=a344b82984f74f81DISCLAIMER: This is not is financial advice. This podcast is for educational and entertainment purposes only.Thank you for listening!Follow us on X: https://x.com/OneChairPodSubscribe on YouTube: https://www.youtube.com/@OneChairPodOr on Apple Podcasts: https://podcasts.apple.com/us/podcast/one-chair-podcast/id1831827737Follow the crew on X:- Yves: https://x.com/GrafYves- Quentin: @quentinisonx- Dario: @dariostackssats

  4. Oct 11

    What Really Drives STRC? A Deep Dive Into MSTR's Digital Credit

    Did Strategy waste over $1+ billion trying to support STRC? And is Michael Saylor overengineering Digital Credit? Adrian Morris, founding member of True North and Bitcoin Treasury analyst, returns to the One Chair Podcast with a data-driven analysis that challenges some of the biggest narratives surrounding Strategy (MSTR), STRC, Strive (ASST), SATA, and the emerging Digital Credit market. His research delivers a surprising finding: after controlling for Bitcoin, MSTR, other preferred equities, and trading activity, STRC buybacks showed no statistically distinguishable impact on price. Adrian challenges the conventional wisdom surrounding Bitcoin Treasury companies, arguing that corporate financial engineering cannot override market forces. And despite his criticism of Strategy's recent decisions, his long-term outlook for MSTR is remarkably bullish. He explains why Strategy's common equity ATM could become its most powerful capital-raising engine, why Bitcoin Yield and amplification ratios may be misleading indicators of investment performance, and how Strategy could eventually combine Bitcoin accumulation with AI and business intelligence to create an entirely different company. In this episode, we discuss: → STRC vs. SATA: Why are the two preferred equities trading differently, and what really drives their prices? → STRC Buybacks: What True North's research reveals about Strategy's billion-dollar buyback program and why its impact may be overstated. → Daily Dividends: Why Adrian believes Strategy's move to daily dividends adds complexity without necessarily improving price stability. → USD Reserves: Does holding billions in cash actually protect Digital Credit investors, or are there diminishing returns? → Investor Protections: Could STRF-style protections improve STRC's ability to trade at par? → Market Intervention: Why Strategy may be sending the wrong signal by intervening in its own preferred equity market. → Bitcoin Treasury KPIs: Why Bitcoin Yield, Bitcoin per Share, and Amplification Ratio don't necessarily translate into superior investment returns. → The Future of MSTR: How common equity issuance, Digital Credit, Bitcoin, AI, and business intelligence could reshape Strategy over the next decade. Follow our guest: - Adrian Morris on X: https://x.com/_Adrian - True North on X: https://x.com/TNorth - True North on Youtube: https://www.youtube.com/@BTCTrueNorth Check out Adrian's research on True North: https://tnorth.com/research/strc-buybacks-market-structure/ 00:00 Intro: Adrian Morris Returns to One Chair Podcast 01:21 STRC vs. SATA: Why Is Strive Losing Its Edge? 04:01 Do Daily Dividends Actually Help STRC Trade at Par? 07:11 True North Research: What Really Drives STRC's Price? 14:55 Are Strategy's Buybacks Delivering Diminishing Returns? 18:26 Does Strategy's USD Reserve Actually Support STRC? 22:23 STRC vs. SATA: How Much Cash Reserve Is Enough? 28:48 Would Stronger Investor Protections Fix STRC? 34:18 Daily vs. Semi-Monthly Dividends: Is Strategy Overengineering STRC? 38:54 Is Strategy Listening Too Much to Bitcoin Twitter/X? 43:35 Should Strategy Copy Strive's Podcast and Media Strategy? 48:20 Why Strategy Needs More Data-Driven Investor Communication 50:26 Did Strategy Ignore the Warning Signs in STRC Buybacks? 53:56 Why MSTR's Common Stock ATM Could Dominate the Next Decade 01:00:51 Could Strategy Become a Bitcoin and AI Powerhouse? 01:01:55 Where to Find Adrian Morris and True North Research Big thanks to Little Bubble for allowing us to use his song: "One Chair": https://open.spotify.com/track/0XW7JgR2Nlg7WXGOeVT64h?si=a344b82984f74f81 DISCLAIMER: This is not is financial advice. This podcast is for educational and entertainment purposes only. Thank you for listening! Follow us on: - X: https://x.com/OneChairPod - Youtube: https://www.youtube.com/@OneChairPod Referral links: - Roxom: https://roxom.com/auth/signup?referral=a7m4wx

  5. Oct 8

    The Next MSTR Might Come From Europe

    Can Bitcoin Treasury companies outperform Bitcoin itself? And could Europe produce the next big winner in the Bitcoin Treasury race?In Episode 5 of Inside the Walls, Yves-André Graf and Alexandre Laizet from Capital B to explore the rapidly evolving Bitcoin Treasury industry, the rise of Digital Credit, and why amplification could become the defining factor separating winners from losers.With Strive pushing toward 60–70% amplification, Strategy defending STRC through buybacks, and Smarter Web preparing to launch MORE, competition among Bitcoin Treasury companies is intensifying.But the biggest opportunity might be hiding in Europe.In this episode, we explore:🔹 Bitcoin Treasury Amplification: Why amplification matters, how much is too much, and whether companies can maintain high amplification ratios through Bitcoin bull and bear markets.🔹 Strategy's STRC Buybacks: Is Strategy supporting its Digital Credit ecosystem or interfering with market price discovery? Should STRC be allowed to find its own equilibrium?🔹 The Fastest Horse: Can Strive (ASST), Strategy (MSTR), Smarter Web (SWC), or Capital B deliver the strongest long-term shareholder returns?🔹 Europe's Hidden Advantage: Why European capital markets could offer extraordinary opportunities for Bitcoin Treasury companies, particularly through Digital Credit and institutional demand.🔹 The Rise of Digital Credit: How perpetual preferred equity instruments such as STRC, SATA, and MORE could transform Bitcoin accumulation and corporate financing.🔹 Capital B's Ambitions: Alexandre explains why Capital B believes it can become a leading European Bitcoin Treasury company and how access to European and US capital markets could support its growth.🔹 Bitcoin 2027 Outlook: What happens when Bitcoin appreciates, amplification capacity expands, and institutional investors begin allocating significantly more capital to Digital Credit?The central questions are:- What happens when Bitcoin appreciation, equity issuance, and Digital Credit create multiple reinforcing capital-raising engines?- Could the next Bitcoin bull market trigger an unprecedented acceleration in corporate Bitcoin accumulation?- And which Bitcoin Treasury company will emerge as the fastest horse?Follow the crew on X:- Alexandre Laizet: https://x.com/AlexandreLaizet- André Dragosch: https://x.com/Andre_Dragosch- Yves Choueifaty: https://x.com/YChoueifaty- Valentin Kosanovic: https://x.com/Kosanovic_VFollow Capital B on Youtube: https://www.youtube.com/@UCEXICiXdOXjh0jigU64inPg 00:00 Intro: Bitcoin Treasury News, Strategy & Strive03:35 Bitcoin Treasury Amplification: Who Has the Biggest Advantage?10:30 How Much Amplification Is Too Much?21:07 STRC Buybacks: Is Strategy Fighting the Market?28:18 The Fastest Horse: Strive vs Strategy vs Smarter Web vs Capital B41:20 Why European Bitcoin Treasuries Could Outperform the US48:48 Can Bitcoin Treasury Companies Expand Across Borders?55:01 Bitcoin Treasury Outlook: What Comes Next in 2027?01:00:09 Outro: Reflexive Growth and the Road AheadFollow us on: - X: https://x.com/OneChairPod- Youtube: https://www.youtube.com/@OneChairPodDISCLAIMER: This is not is financial advice. This podcast is for educational and entertainment purposes only.Thank you for listening!

  6. Oct 6

    Smarter Web’s CEO Thinks Bitcoin Is Still Cheap at $250K

    The Smarter Web Company (SWC) is about to launch MORE, a new perpetual preferred equity that could fundamentally change how the UK Bitcoin Treasury company raises capital and accumulates Bitcoin. In this episode of the One Chair Podcast, Andrew Webley, Founder & CEO of The Smarter Web Company, joins us to explain exactly how MORE works, why it will pay weekly dividends, and how it could become a powerful new capital-raising engine alongside SWC. MORE launches with a 12% variable dividend rate, a £100 par value, a two-year minimum dividend cash buffer, and an initial maximum amplification ratio of 35%. But Andrew says that 35% is only the starting point, and that mathematically, the ratio could go significantly higher. We go deep into the mechanics behind the strategy. Why is Smarter Web replacing its Coinbase Bitcoin-backed debt with permanent capital? How will MORE be managed around par? Could the dividend rise as high as 20%? Who is the target investor: retail or institutional? And how much Bitcoin could Smarter Web ultimately accumulate if the MORE flywheel starts working? Andrew also explains why Bitcoin itself has become the hurdle rate for every acquisition Smarter Web considers, and why finding an operating business capable of outperforming Bitcoin is becoming increasingly difficult. We discuss: → How Andrew Webley discovered Bitcoin and why Michael Saylor changed his thinking → Why The Smarter Web Company became a Bitcoin Treasury company → Why Smarter Web wants to eliminate its Coinbase-backed debt → How MORE perpetual preferred equity works → Why MORE pays weekly dividends → The 12% initial variable dividend rate and potential 20% ceiling → Why Smarter Web is targeting £100 par → The two-year dividend cash reserve → MORE’s 35% amplification ratio, and why it could eventually go higher → Retail vs institutional demand for MORE → How preferred equity can drive Bitcoin-per-share growth → Why Andrew believes Bitcoin is still incredibly cheap → Why Bitcoin has become Smarter Web’s acquisition hurdle rate → Smarter Web’s strategy for acquiring profitable businesses → Potential acquisitions outside the UK → Whether The Smarter Web Company could eventually change its name → What comes next for SWC and MORE If MORE works as intended, Smarter Web will have two very different capital-raising engines: SWC as the growth equity and MORE as the income-focused preferred equity. Follow our Guest: - Andrew Webley: https://x.com/asjwebley - The Smarter Web Company on X: https://x.com/smarterwebuk - The Smarter Web Company: https://www.smarterwebcompany.co.uk/ 00:00 Andrew Webley: Building the UK’s Bitcoin Treasury Company 04:47 Why Smarter Web Used Bitcoin-Backed Coinbase Debt 11:22 Why Smarter Web Is Replacing Debt With MORE 15:27 MORE: The UK’s First Bitcoin Treasury Preferred Stock 19:35 How MORE Targets £100 Par Value 25:47 Who Will Buy MORE? Retail vs Institutional Investors 29:12 Why MORE Has a 35% Amplification Ratio 35:55 Are Institutions Warming Up to Bitcoin Treasuries?40:46 Smarter Web’s Acquisition Strategy: Why Bitcoin Is the Hurdle Rate 43:16 Could Smarter Web Acquire Companies Outside the UK? 45:02 What Types of Companies Could Smarter Web Acquire Next? 47:16 Can Any Acquisition Really Outperform Bitcoin? 48:27 Will The Smarter Web Company Change Its Name? 50:46 Building Through the Bitcoin Treasury Bear Market 52:37 What Comes Next for Smarter Web and MORE? Big thanks to Little Bubble for allowing us to use his song: "One Chair": https://open.spotify.com/track/0XW7JgR2Nlg7WXGOeVT64h?si=a344b82984f74f81 DISCLAIMER: This is not is financial advice. This podcast is for educational and entertainment purposes only. Thank you for listening! Follow us on: - X: https://x.com/OneChairPod - Youtube: https://www.youtube.com/@OneChairPod

  7. Oct 4

    What Happens When You Put Bitcoin Inside Private Equity?

    What if you could build a better alternative to private equity: by acquiring profitable businesses and sweeping their cash flow into Bitcoin? That’s the idea behind Orange Juice. In this episode of the One Chair Podcast, Nico Lechuga, founding partner at Ego Death Capital and Orange Juice, unpacks one of the most interesting new models emerging at the intersection of Bitcoin, private equity and traditional business. Orange Juice is building a permanent capital vehicle designed to acquire cash-flow-positive businesses, keep their owner-operators involved, and use the free cash flow they generate to accumulate Bitcoin. But the ambition goes much further. Nico says the ultimate measure of success would be for Orange Juice to eventually stand in the same conversation as Apollo, KKR and Blackstone, while making Bitcoin an integral part of the model without having to evangelize it. We explore: → Why traditional private equity may not always align with business owners → How Orange Juice offers an alternative exit for entrepreneurs → Why Orange Juice plans to acquire and hold businesses for the long term → How business cash flows can be converted into Bitcoin → Whether Orange Juice could eventually become a public company → When Orange Juice equity could become more attractive than cash for acquisitions → Whether the company would ever sell its Bitcoin → How Orange Juice thinks about leverage without becoming a forced seller of BTC → The potential flywheel between businesses, cash flow, Bitcoin and future acquisitions → How AI could improve the companies Orange Juice acquires → Nico’s biggest takeaway from the Bitcoin Treasuries conference in New York → How Bitcoin changed Nico’s life far beyond investing Nico also shares how meeting Jeff Booth helped shape his Bitcoin journey, how that eventually led to the creation of Ego Death Capital, and why years of working with successful entrepreneurs and family offices ultimately helped inspire Orange Juice. Can Bitcoin become the missing ingredient in a new permanent-capital model capable of competing with traditional private equity? This conversation explores what that could look like. Follow our Guest: - Nico Lechuga: https://x.com/nico_lechuga - Ego Death Capital on X: https://x.com/egodeathcapital - Ego Death Capital: https://egodeath.capital/ - Orange Juice on X: https://x.com/orangejuice_btc - Orange Juice: https://orangejuice.com/ 00:00 How Nico Lechuga Discovered Bitcoin Through Jeff Booth 03:54 Building Ego Death Capital: Investing in Bitcoin Startups 05:38 Why Nico Lechuga Created Orange Juice 11:44 Why Orange Juice Plans to Hold Businesses Forever 16:17 Could Orange Juice Exist Without Bitcoin? 18:22 Could Orange Juice Use Strategy’s Bitcoin Treasury Playbook? 20:06 What Happens When an Orange Juice Business Fails? 22:13 How Orange Juice Can Create a Business Acquisition Flywheel 25:24 When Orange Juice Equity Becomes Better Than Cash 26:53 Would Orange Juice Ever Sell Its Bitcoin? 28:41 How AI Could Transform Orange Juice’s Businesses 31:02 The Ultimate Goal: Competing With Blackstone, KKR & Apollo 32:48 Nico's Biggest Takeaway from the Bitcoin Treasuries Conference 35:32 How Bitcoin Helped Nico “Exit the Matrix” 36:54 Nico Lechuga’s Final Message to Bitcoin Entrepreneurs Big thanks to Little Bubble for allowing us to use his song: "One Chair": https://open.spotify.com/track/0XW7JgR2Nlg7WXGOeVT64h?si=a344b82984f74f81 DISCLAIMER: This is not is financial advice. This podcast is for educational and entertainment purposes only. Thank you for listening! Follow us on: - X: https://x.com/OneChairPod - Youtube: https://www.youtube.com/@OneChairPod

  8. Oct 1

    Can MSTR Really Scale to $10 Billion of Bitcoin a Day?

    What happens when sovereign bonds start breaking, AI accelerates productivity, institutions search for alternative yield, and Bitcoin sits at the intersection of all three? In Episode 4 of Inside the Walls, we explore a thesis that could reshape global capital markets: The Great Debasement Trade may be accelerating, and Bitcoin could be one of its biggest beneficiaries. European sovereign risk is rising. Bond yields are moving higher. Financial conditions are tightening. Yet Bitcoin is showing surprising resilience, while Bitcoin-backed Digital Credit continues to trade remarkably close to par. So are we beginning to see something bigger? André Dragosch, Alexandre Laizet and Valentin Kosanovic break down what is happening inside institutional capital markets, and why the convergence of Bitcoin, AI, Digital Credit and global debt could accelerate faster than most investors expect. We discuss: → Why sovereign bond markets are flashing warning signs → The growing disconnect between bonds, equities and Bitcoin → Whether Bitcoin is beginning to decouple from the S&P 500 → Why institutions are increasingly exploring Bitcoin and Digital Credit → STRC vs SATA vs STRF, and why investor protections matter → Why Bitcoin-backed credit could behave differently from traditional fixed income → The potential for $50–100 billion of additional Digital Credit issuance → Whether Bitcoin Treasury and Digital Credit ETFs could become a new institutional category → How the AI investment boom compares with railways, canals and the dot-com era → Why AI-driven abundance collides with fiat-driven scarcity → Whether AI capital could eventually rotate into Bitcoin → Bitcoin vs Ethereum and Solana in an AI-agent economy → Why AI models distinguish between Bitcoin as a store of value and stablecoins as a medium of exchange → Why Bitcoin may still be historically cheap relative to gold and equities The bigger question running through this episode: What happens when institutions realize that the AI trade and the debasement trade may ultimately converge on Bitcoin? Follow the crew on X: - Alexandre Laizet: https://x.com/AlexandreLaizet - André Dragosch: https://x.com/Andre_Dragosch - Yves Choueifaty: https://x.com/YChoueifaty - Valentin Kosanovic: https://x.com/Kosanovic_V Follow Capital B on Youtube: https://www.youtube.com/@UCEXICiXdOXjh0jigU64inPg 00:00 The Great Debasement Trade Is Accelerating 06:23 Why Bond Markets Are Flashing Warning Signs 11:15 Are We Entering Hyperbitcoinized Capital Markets? 14:54 Why Institutions Are Suddenly Looking at Bitcoin 19:26 Digital Credit vs Sovereign Bonds: Something Is Changing 21:56 Bitcoin’s Biggest Test for Institutional Adoption 24:43 The Fed’s Impossible Choice — And Why Bitcoin Could Win 26:30 What Institutions Want: Bitcoin Growth or Income? 36:20 Are Bitcoin Treasury & Digital Credit ETFs Coming? 38:39 AI, Superintelligence and the Next Bitcoin Capital Rotation 47:23 Bitcoin vs Ethereum & Solana in the AI Economy 52:30 What Does AI Actually Choose as Money? 54:35 Why Ethereum & Solana May Have a Fundamental Problem 57:44 Bitcoin vs Gold & Stocks: The Valuation Gap Follow us on: - X: https://x.com/OneChairPod - Youtube: https://www.youtube.com/@OneChairPod DISCLAIMER: This is not is financial advice. This podcast is for educational and entertainment purposes only. Thank you for listening!

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About

Your guide to the companies stacking Bitcoin. We track the corporate treasuries holding Bitcoin and explore their strategies. We bring you all the insights, stories, and numbers that are reshaping treasury management in the age of Bitcoin. Whether you’re an investor, Bitcoiner, or finance pro, stay informed on who’s buying, holding, and leading Bitcoin adoption at the highest levels.

Information

  • Creator
    One Chair Podcast
  • Years Active
    2025 - 2026
  • Episodes
    117
  • Rating
    Clean
  • Copyright
    © One Chair Podcast
  • Show Website
    One Chair Podcast

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