Welcome back to STACKED, the show about becoming your own best asset. I sat down with Katherine Dowling, President and a Board Member of BSTR, a Bitcoin treasury company founded by Adam Back -- the only person named in Satoshi's original white paper on Bitcoin. Before any of that, Katherine spent nearly a decade as a federal prosecutor with the U.S. Attorney's Office, building fraud cases the same way every time: follow the money. That instinct followed her into the private sector at Thoma Bravo, and then into Bitcoin — in 2021 she joined Bitwise Asset Management as General Counsel, the only woman on the company's founding executive team. In this episode, Katherine breaks down the moment she decided to leave the legal world behind for Bitcoin, why the same logic that built her prosecution cases is exactly what convinced her Bitcoin was different, and the one question she asks before she trusts any Bitcoin product. She also explains the real difference between a Bitcoin ETF and a Bitcoin treasury company, and why she believes your friends are not your research department. This is the Bitcoin conversation for the woman who wants to think like a prosecutor before she ever thinks like an investor. This episode is brought to you by The Brickell Babes, Miami’s largest network of ambitious women. Join for lifetime connections, real recommendations, curated events, exclusive perks, and a community of women who actually show up for one another. Learn more about membership. http://www.thebrickellbabes.com/membership Key Topics Covered: — Growing up hearing the story of her mother's FBI rejection letter — Nearly a decade as a federal prosecutor with the U.S. Attorney's Office — The follow-the-money instinct that connects fraud prosecution and Bitcoin conviction — Her leap into private equity at Thoma Bravo — Joining Bitwise Asset Management as General Counsel in 2021 — the only woman on the founding executive team — Leaving Bitwise to become President and a Board Member of BSTR, a Bitcoin treasury company — "Are you a Bitcoin believer?" — her first due-diligence question before trusting any Bitcoin product — Bitcoin ETFs vs. Bitcoin treasury companies, explained in plain English — "Your friends are not your research department" — her advice on doing your own research — The SEC meeting where she learned that data beats headcount, marker in hand — What it's like being one of the only women in the room at every stage of her career — Lightning round Timestamps: 05:53 – Her Mother’s FBI Rejection Letter & Growing Up Around That Story 11:26 – Nearly a Decade as a Federal Prosecutor With the U.S. Attorney’s Office 14:36 – The “Follow the Money” Instinct & How It Led Her Out of Law 18:13 – The Leap Into Private Equity at Thoma Bravo 32:07 – “Your Friends Are Not Your Research Department” 33:52 – The SEC Meeting, the Dry-Erase Marker & Data Over Headcount44:28 – Bitcoin ETFs vs. Bitcoin Treasury Companies, Explained 54:57 – The Call From Adam Back & the Leap to BSTR 57:42 – “Are You a Bitcoin Believer?” — Her Due-Diligence Checklist 01:04:02 – Lightning Round 01:07:25 – Where to Find Katherine Dowling Tags: Katherine Dowling, BSTR, Bitcoin treasury company, federal prosecutor, U.S. Attorney's Office, Bitwise Asset Management, Thoma Bravo, Adam Back, Bitcoin ETF vs treasury company, women in Bitcoin, women in finance, do your own research, career change to Bitcoin, Bitcoin conviction, sound money, STACKED podcast, Emily Dempsey, Brickell Babes,, institutional Bitcoin, digital assets, Disclaimer:The content shared on this page should not be construed as legal, financial, investment, or medical advice. Your viewing and/or use of this information does not create any kind of client, patient, or fiduciary relationship with us. The contents are intended for general informational purposes only, and you are urged to consult your own advisors concerning your situation and specific questions you may have.