The Mustard Seed Bitcoin Podcast

Joe Burnett
  • 4.3 (6)
  • INVESTING
  • UPDATED WEEKLY

Joe Burnett is Vice President of Bitcoin Strategy at Strive (Nasdaq: ASST) following the Strive + Semler Scientific transaction. He previously served as Director of Bitcoin Strategy at Semler Scientific, helping build a treasury of over 5,000 BTC, and as Director of Market Research at Unchained, which secures more than 100,000 BTC. Joe hosts The Mustard Seed podcast and previously worked at Blockware Solutions and Ernst & Young. He holds degrees in Information Systems, Computer Science, and Business Analytics from the University of Georgia.

  1. APR 22

    Coffeezilla vs 11%+ Digital Credit Yields and Why Bitcoin is Ready To Run | Joe Consorti

    Bitcoin is evolving into a unique asset that responds to both crisis and liquidity expansion. In this conversation, we break down how macro policy, market structure, and institutional flows are reshaping bitcoin’s role in global portfolios. The result is a shift toward bitcoin as a core asset for long-term capital allocation. Timestamps: 0:00 Introduction and current bitcoin market setup 0:23 Price levels, resistance, and defining a new bull market 1:30 Macro backdrop: war, uncertainty, and market reactions 2:40 Bitcoin as chaos insurance across global crises 4:00 Performance vs gold, S&P 500, and shifting perception 5:00 Liquidity asset vs risk-off asset: reconciling the paradox 6:30 Dual drivers: global liquidity and crisis demand 8:00 Declining volatility and shallower bitcoin drawdowns 9:30 Why traditional markets avoid prolonged recessions 12:00 Debt dynamics and the inevitability of policy response 14:00 Faster Fed response cycles from 2008 to today 16:00 The “big print” and bitcoin as the primary beneficiary 17:30 Role of technology and information flow in policy decisions 20:00 Monetary policy, asset inflation, and wealth concentration 21:30 Fastest stock market rally since 1982 and implications 23:30 V-shaped recoveries and forward market returns 25:00 Institutional positioning and bullish equity signals 27:00 Treasury market stress and liquidity risks 28:30 Why markets rise in both good and bad scenarios 30:00 Bitcoin’s origin and alignment with monetary debasement 31:30 Coffeezilla debate and digital credit misconceptions 35:00 STRC mechanics and sustainability of yield 40:00 Bitcoin balance sheet coverage and risk framing 43:30 Bitcoin decoupling from tech and software stocks 46:00 Long-term path toward an uncorrelated asset 46:30 What to own if bitcoin did not exist 48:30 Closing thoughts and where to follow

    50 min

  2. APR 15

    Digital Credit TAM and the Bitcoin + Digital Credit Carry Trade

    Digital Credit is expanding the total addressable market for Bitcoin and Bitcoin is expanding the total addressable market for Digital Credit. This conversation explores how that dynamic could scale reflexively and reshape global capital allocation. Timestamps: 0:00 Introduction 1:24 Why Bitcoiners should care about digital credit 6:00 Bitcoin fixed income and a new asset class 8:30 The carry trade: earning Bitcoin yield 11:00 Transparent yield vs black-box risk 17:50 Why digital credit is attracting massive demand 20:00 “Printing Bitcoin with your Bitcoin” 24:59 Bitcoin as the unit of account (Roxom thesis) 34:00 The best Bitcoin investments (NVIDIA example) 38:41 Idle Bitcoin 47:01 The reflexive growth loop of digital credit 54:00 Closing thoughts: think in Bitcoin

    56 min

  3. APR 8

    Bitcoin, AI, MSTR, and Why Fear Creates Opportunity | Tad Smith

    Tad Smith joins Joe Burnett to discuss why he still favors bitcoin over gold, how AI is reshaping software, labor, and opportunity, and why he sees the current market setup as increasingly attractive for bitcoin and Strategy. They also dig into Digital Credit, the long-term potential of Strategy’s preferred products, the quantum cloud over bitcoin, and Tad’s new role leading Candy Digital. Timestamps: 0:00 Intro 1:28 What First Clicked for Tad on Bitcoin 4:11 Gold vs. Bitcoin Right Now 6:51 Current Market Dynamics, Oil, and Volatility 8:46 Why AI Pressures Traditional Software 10:53 Why Tad Still Likes Palantir 13:03 The Fed, Inflation, and Global Liquidity 17:11 Weakening Labor Markets and Why More Printing Could Follow 19:49 Is AI Replacing White-Collar Work? 22:57 Tad’s Advice for Students and Young Workers 26:14 AI, Abundance, and Choosing Optimism 29:51 Where We Are in the Bitcoin Cycle 32:37 Does Bitcoin Have a Real Floor? 35:46 What Could Trigger Bitcoin’s Next Move Higher 38:52 Morgan Stanley, Quantum Risk, and Clearing the Clouds 46:56 Strategy, STRC, STRK, and Amplified Bitcoin 51:49 Is Stretch Strategy’s iPhone Product? 55:21 Tad on Candy Digital and Digital Collectibles 57:42 Final Thoughts on Fear, Resilience, and Happiness

    59 min

  4. APR 3

    Why Fear Moves Markets Faster Than Logic | Adrian Morris

    Market sentiment is weak, volatility is elevated, and capital has nowhere to hide. In this episode, Adrian Morris explains why sentiment drives all markets, how it shapes bitcoin’s price, and what it takes to navigate and withstand the current environment.Read Adrian's research report here: https://tnorth.com/research/sentiment-as-substrate/Timestamps: 00:00 Introduction 00:33 Welcoming Adrian 01:08 Current market conditions and volatility 03:31 Energy, macro pressure, and bitcoin outlook 04:04 Why markets are driven by sentiment 07:54 mNAV, valuation, and sentiment shifts 13:50 The most controversial idea in the paper 15:37 Is valuation ever objective? 20:17 Bitcoin narratives vs market reality 20:35 Traditional finance misses the “first cause” 24:55 Do fundamentals matter or not? 28:46 The “blind ledger” thought experiment 31:23 Warren Buffett and valuation frameworks 34:54 What is reflexivity in markets? 36:46 Leverage, volatility, and bitcoin 39:00 Paper bitcoin and market structure 42:30 Fixed supply and bitcoin valuation 46:15 Efficient market hypothesis critique 49:45 Are free markets truly efficient? 52:13 Why most investors underperform 55:41 Passive investing and market risk 59:32 Digital credit and market perception 1:03:23 Final thoughts on sentiment and pricing 1:04:49 Weathering volatility as an investor

    1h 5m

  5. MAR 26

    Is Bitcoin Becoming a Safe Haven? Digital Credit, War, and Oil | Joe Consorti

    Bitcoin is holding firm as equities, gold, and silver decline amid rising geopolitical tension, signaling a potential shift in how the asset behaves during global stress. We break down the macro forces driving markets, the rise of digital credit as a Bitcoin demand engine, and how AI is accelerating a new financial paradigm. Timestamps: 00:00 – Intro and Bitcoin’s move from $90K to ~$70K 03:30 – Key levels, market structure, and has the bottom formed 04:00 – Is Bitcoin broken? The 5-year CAGR debate 07:00 – Why Bitcoin performance depends on timeframe 08:20 – Bitcoin vs war: why it’s holding up 12:00 – Liquidity, narratives, and decoupling from other assets 17:30 – Rising interest rates, oil, and macro pressures 22:50 – Oil spikes and recession risk 28:10 – Digital credit finds product-market fit 32:30 – The Bitcoin demand flywheel and scaling capital 33:20 – Time horizons, volatility, and investor behavior 35:30 – Why digital credit unlocks institutional adoption 37:45 – Track record building during volatility 40:20 – Gold and silver crash: what’s happening 43:30 – Long-term outlook for gold vs Bitcoin 46:20 – AI acceleration and economic impact 49:30 – Rising uncertainty and the future of work 52:00 – AI, money printing, and Bitcoin’s role 54:00 – Final thoughts and where to follow Joe

    55 min

  6. MAR 18

    Digital Credit, Jane Street, and the Next Bitcoin Bull Market

    Digital credit and bitcoin-backed money are emerging as a new foundation for global finance, offering yield, transparency, and programmability. In this episode, Parker from APYX explains how this system works, why it is gaining traction, and how it could drive the next wave of bitcoin adoption. Timestamps: 0:00 Intro 0:33 What is digital money and digital credit 3:01 Parker’s background: from Austrian economics to bitcoin 6:18 Early career, Kraken, and DeFi experience 7:07 Why bitcoin-backed stablecoins matter 10:01 Where yield comes from in digital credit and money 11:27 What APYX is and how it works 15:44 DeFi yield demand and carry trades explained 19:01 Why capital hasn’t fully moved from Athena to APYX 21:38 October crash and Ethena’s role 23:07 Stablecoin depegs and market mechanics 25:10 How APYX maintains its peg 27:46 Floating vs hard pegs (STRC comparison) 28:23 Luna comparison and key differences 31:07 Why digital credit must scale for digital money 33:16 Private credit vs digital credit 35:27 Blockfills bankruptcy and market stress 37:04 Impact of bitcoin ETFs on market structure 40:11 Offshore vs onshore price discovery 41:38 Why bitcoin is trading around $70K 46:31 Derivatives vs spot market imbalance 47:11 Will digital credit drive bitcoin demand 50:13 Why yield products unlock new bitcoin demand 51:39 Where to learn more about APYX

    52 min

  7. MAR 12

    Basel Held Bitcoin Back. AI Could Unleash It | Conner Brown

    Joe Burnett sits down with Conner Brown of the Bitcoin Policy Institute to discuss the Basel Committee’s 1,250% bitcoin risk weighting and why many view it as a major policy mistake limiting bank adoption. They also explore digital credit, the future of bitcoin in the financial system, and why AI agents may ultimately prefer bitcoin as money. Timestamps: 0:00 Intro 0:49 The Basel 1,250% mistake explained 7:26 How punitive Basel’s bitcoin risk weighting is in practice 12:12 Why Basel treats gold and bitcoin so differently 15:01 What happens if the U.S. changes the rules for banks 20:06 Why America should lead in bitcoin financial products 22:07 Digital credit and why Connor is bullish on it 26:20 Why bitcoin needs to be repackaged for different users 29:10 What money AI agents prefer 33:35 What properties AI agents want in money 37:49 Why bitcoin could give AI agents a capability boost 41:32 How fast AI is advancing 48:20 AI, job displacement, and the reorganization of society 54:51 Key bitcoin policy issues to watch in Washington 1:01:14 Where to follow Connor and Bitcoin Policy Institute

    1h 2m

  8. MAR 4

    Can Bitcoin Save America from AI Deflation and the Silent Depression?

    AI is accelerating productivity, compressing margins, and destabilizing labor markets in ways few are tracking closely. We examine the silent depression, liquidity risks, and why a recession could act as a margin call on the U.S. government and ignite the next bitcoin cycle. Timestamps: 00:00 – AI Is Already Causing Deflation 02:12 – Strange Market Rotation Since November 04:45 – AI Quietly Hitting White-Collar Jobs 06:23 – Software Publishing Down 3.8% 08:21 – Is This Just Getting Started? 10:15 – The Silent Depression Explained 12:10 – Personal Income vs Money Supply Collapse 15:40 – 25 Years of Economic Deterioration 19:49 – Capital vs Labor: The Great Divide 22:01 – Will AI Trigger UBI? 24:00 – Is Socialism Inevitable? 28:50 – Bitcoin vs Bonds: What to Own Now 31:00 – Could Bitcoin Go Four Digits? 34:30 – The Math of a $5 Trillion Deficit 37:15 – Deflation Is the Most Bullish Case for Bitcoin 39:48 – What Triggers “The Big Print”? 44:18 – ISM PMI: Early Cycle or False Signal? 50:28 – M2 Liquidity Is Quietly Drying Up 53:26 – Deaths of Despair Are 3x Great Depression 58:30 – Why Political Volatility Is Coming 1:01:05 – Is There Any Optimistic Outcome? 1:04:00 – How America Fixes This 1:06:52 – Produce More Than You Consume

    1h 8m
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4.3
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About

Joe Burnett is Vice President of Bitcoin Strategy at Strive (Nasdaq: ASST) following the Strive + Semler Scientific transaction. He previously served as Director of Bitcoin Strategy at Semler Scientific, helping build a treasury of over 5,000 BTC, and as Director of Market Research at Unchained, which secures more than 100,000 BTC. Joe hosts The Mustard Seed podcast and previously worked at Blockware Solutions and Ernst & Young. He holds degrees in Information Systems, Computer Science, and Business Analytics from the University of Georgia.

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