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.
One Chair Podcast
Claim This Podcastby One Chair Podcast
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96 episodes
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Podcast Overview
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.
Language
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Publishing Since
8/10/2025
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Recent Episodes
July 14, 2026
MSTR Is Getting Safer — But Is It Losing Its Bitcoin Edge?
<p>Strategy has built a $3 billion cash reserve to strengthen its preferred securities.</p><p><br></p><p>But does becoming safer come at the cost of what made MSTR unique in the first place?</p><p><br></p><p>In this episode of the One Chair Podcast, we sit down with Jody Flournoy, co-founder of 21 Rates and co-host of Daily Stack, to discuss Strategy's evolving capital structure, the trade-off between safety and Bitcoin amplification, why the market reacted negatively, and whether Bitcoin treasury companies still offer a compelling advantage over simply owning Bitcoin.</p><p><br></p><p>We also explore Bitcoin treasury companies, custody risk, proof of reserves, AI investing, and how Jody thinks about portfolio construction in the age of Bitcoin and artificial intelligence.</p><p><br></p><p>In this episode:</p><p>• Why Strategy built a $3 billion cash reserve</p><p>• Does more safety reduce Bitcoin per share growth?</p><p>• Is MSTR still better than simply owning Bitcoin?</p><p>• The market's reaction to Strategy's latest move</p><p>• Custody risk and proof of reserves</p><p>• Bitcoin treasury companies vs self-custody</p><p>• Strategy, Strive, Metaplanet and the future of digital credit</p><p>• Why Jody remains bullish despite recent changes</p><p>• AI, Bitcoin and where capital may flow next</p><p>• Building an investment framework with AI</p><p><br></p><p>Follow Jody Flournoy:</p><p>X: https://x.com/JodyFlournoy</p><p>Daily Stack: https://x.com/DailyStackHQ</p><p>21 Rates: https://21rates.com</p><p><br></p><p>Timestamps:</p><p>00:00 Jody's Bitcoin Story: Buying BTC in 2017 & Never Selling</p><p>06:07 How Bitcoin Treasury Companies Changed Everything</p><p>08:59 Is Strategy (MSTR) Good or Bad for Bitcoin?</p><p>12:53 Could Strategy Ever Dump 850,000 Bitcoin?</p><p>15:06 The Biggest Risk for Bitcoin Treasuries: Custody & Governance</p><p>19:45 Proof of Reserves vs Traditional Custody: What Investors Need to Know</p><p>22:10 Could Governments Confiscate Bitcoin Treasury Holdings?</p><p>27:40 Why MSTR Stock Fell While Bitcoin Stayed Flat</p><p>32:46 Should You Buy Bitcoin or Bitcoin Treasury Stocks?</p><p>36:50 The AI Trade: Where Smart Money Is Moving Now</p><p>42:53 Will Money Rotate From AI Back Into Bitcoin?</p><p>47:29 Which Bitcoin Treasury CEO Impressed Jody the Most?</p><p>52:08 Using AI to Build a Better Bitcoin Investment Strategy</p><p>56:02 Why Every Bitcoiner Needs a Small "Trading Bag"</p><p>57:04 Why Self-Custody Helps You Avoid Emotional Trading</p><p>57:34 Where to Follow Jody Flournoy & The Daily Stack</p><p><br></p><p>Big thanks to Little Bubble for allowing us to use his song, “One Chair”: https://open.spotify.com/track/0XW7JgR2Nlg7WXGOeVT64h?si=hWtodY-kQPuZvJZwCAEVUw</p><p><br></p><p>DISCLAIMER: This is not financial advice. This podcast is for educational and entertainment purposes only.</p><p><br></p><p>Thank you for listening!</p><p>Follow us on X: https://x.com/OneChairPod</p><p>YouTube: https://www.youtube.com/@OneChairPod</p><p><br></p><p>Referral links:</p><p>Roxom: https://roxom.com/auth/signup?referral=a7m4wx</p>
July 10, 2026
MSTR’s $300 Trillion Bitcoin Playbook Is Coming to Europe
<p>Capital B is preparing to bring the Strategy playbook to Europe, with plans to expand its Bitcoin balance sheet and build a new generation of Bitcoin-backed credit products.</p><p><br></p><p>In this episode, Alexandre Laizet joins us to explain Capital B’s long-term strategy, its new capital-raising capacity, and why perpetual credit could become the most efficient way for Bitcoin treasury companies to accumulate Bitcoin at scale. We discuss how Capital B plans to increase Bitcoin per share, why it has avoided fiat leverage so far, and what Europe can learn from Strategy and Strive.</p><p><br></p><p>Alexandre also breaks down the recent stress test for STRC and SATA, why seniority and cash reserves matter, and whether Bitcoin credit can be successfully replicated in European capital markets. He shares his outlook on institutional adoption, the hidden positioning taking place ahead of the next bull market, and why Bitcoin could eventually reach $600,000 and beyond.</p><p><br></p><p>Whether you’re following Capital B, Strategy (MSTR), Bitcoin treasury companies, STRC, SATA, or the emerging market for Bitcoin-backed credit, this conversation provides a detailed look at where the industry may be heading next.</p><p><br></p><p>Topics covered:</p><ul><li>Capital B’s new capital-raising capacity</li><li>Why Capital B wants to replicate the Strategy playbook in Europe</li><li>The $300 trillion global credit-market opportunity</li><li>How perpetual Bitcoin credit could increase Bitcoin per share</li><li>Why Capital B currently has no fiat leverage on its Bitcoin treasury</li><li>What STRC and SATA revealed during the recent market stress test</li><li>Why seniority, investor protections, and cash reserves matter</li><li>Whether Bitcoin-backed credit can work in Europe</li><li>Why France could become a hub for European financial innovation</li><li>Should Bitcoin treasury companies hold STRC as an operational reserve?</li><li>How the Iran conflict affected Capital B’s Abu Dhabi operations</li><li>Why institutional Bitcoin adoption is happening silently</li><li>How Bitcoin credit could create demand equivalent to two or three halvings</li><li>Why institutions may already be positioning for the next Bitcoin bull market</li><li>Alexandre’s path from $60,000 Bitcoin to $600,000 and beyond</li><li>Why Bitcoin may be the safest way to gain exposure to the AI boom</li><li>Capital B’s ambition to build Europe’s largest Bitcoin balance sheet</li></ul><p><br></p><p>Follow Alexandre Laizet:</p><p>X: https://x.com/AlexandreLaizet</p><p>LinkedIn: https://www.linkedin.com/in/alexandre-laizet/</p><p>Capital B: https://cptlb.com/</p><p>YouTube: https://www.youtube.com/@ALCPB</p><p><br></p><p>00:00 Prague Takeaways: The Growing Divide in Bitcoin</p><p>04:35 Capital B's €100B Credit Strategy Explained</p><p>12:42 How Close Is Capital B to Launching Digital Credit?</p><p>13:52 Why Bitcoin-Backed Credit Could Transform Finance</p><p>20:57 Bitcoin Convertible Notes vs Perpetual Digital Credit</p><p>26:53 Lessons from Strategy & Strive's Digital Credit Products</p><p>31:55 What STRC, STRF & SATA Taught the Market</p><p>38:15 Can Europe Replicate America's Bitcoin Credit Boom?</p><p>41:10 Why Bitcoin Treasury Companies Still Prefer Bitcoin</p><p>46:03 Capital B's Cash & Bitcoin Reserve Strategy</p><p>52:13 Bitcoin Market Outlook: Are Sellers Finally Exhausted?</p><p>57:29 Bitcoin to $300K? Alexandre's Bull Case</p><p>01:01:51 Where to Follow Alexandre & Learn More</p><p><br></p><p>Big thanks to Little Bubble for allowing us to use his song, “One Chair”: https://open.spotify.com/track/0XW7Jg...</p><p><br></p><p>DISCLAIMER: This is not financial advice. This podcast is for educational and entertainment purposes only.</p><p><br></p><p>Thank you for listening!</p><p><br></p><p>Follow us on X: https://x.com/OneChairPod</p><p>YouTube: https://www.youtube.com/@OneChairPod</p><p><br></p><p>Referral links:</p><p>Roxom: https://roxom.com/auth/signup?referral=a7m4wx</p>
July 7, 2026
MSTR Sold 3,588 BTC — Then Bitcoin Went Up
<p>Strategy just sold 3,588 Bitcoin, Bitcoin treasury stocks are under pressure, and a new battle is unfolding between corporate Bitcoin adoption and hedge funds.In this episode, Richard Byworth joins us to break down Strategy's latest Bitcoin sale, why the market reacted positively, and how Bitcoin treasury companies are evolving. We discuss Michael Saylor's capital markets playbook, why defending a 1.0 mNAV matters, and how companies like Strategy, Metaplanet, and XCE Connecting Excellence are reshaping corporate finance.</p><p><br></p><p>Richard also shares his views on digital credit, Switzerland's Bitcoin treasury landscape, nation-state Bitcoin adoption, and why he believes the next phase of Bitcoin adoption will be driven by capital markets rather than retail investors.</p><p><br></p><p>Whether you're following Strategy (MSTR), Metapanet, Bitcoin treasury companies, or the future of Bitcoin-backed financial products, this conversation is packed with insights you won't hear anywhere else.</p><p><br></p><p>Topics covered:</p><p>- Why Strategy sold 3,588 BTC and why the market liked it</p><p>- Michael Saylor's evolving Bitcoin treasury strategy</p><p>- Why defending a 1.0 mNAV matters</p><p>- How hedge funds attack Bitcoin treasury companies</p><p>- Strategy's new capital allocation framework</p><p>- Metaplanet and the next generation of Bitcoin treasury companies</p><p>- Why Switzerland is falling behind on Bitcoin treasury adoption</p><p>- Digital credit and the future of Bitcoin-backed financial products</p><p>- Nation-state Bitcoin adoption and sovereign Bitcoin reserves</p><p>- Richard Byworth's outlook on Bitcoin's next major move</p><p><br></p><p>Follow Richard Byworth:</p><p>- X: https://x.com/RichardByworth</p><p>- BYZ Partners: https://byzpartners.com/</p><p><br></p><p>00:00 Richard's Bitcoin Journey: From Gold Bug to Bitcoin Maximalist</p><p>05:44 Why Sapiens Orange-Pilled Richard (Unexpected Origin Story)</p><p>07:00 How Michael Saylor Created the Bitcoin Treasury Revolution</p><p>10:37 Understanding Convertible Bonds (Why Most Investors Miss This)</p><p>12:43 Strategy SOLD 3,588 BTC... Why the Market Loved It</p><p>16:47 Why Bitcoin Treasury Stocks Are So Hard to Value</p><p>18:14 Did Strategy Sell Bitcoin to Improve Its Credit Rating?</p><p>19:22 Why Every Bitcoin Treasury Should Defend a 1.0 mNAV</p><p>25:10 Are Traders Manipulating STRC & SATA?</p><p>27:44 Strategy's New Playbook: Less Transparency on Purpose?</p><p>29:24 Best Bitcoin Treasury Stocks Outside Strategy</p><p>35:39 Why Switzerland Rejected a Bitcoin Treasury Listing</p><p>39:01 When Will Digital Credit Come to Europe?</p><p>41:27 Richard's New Bitcoin Hedge Fund Explained</p><p>45:52 Nation States Are Quietly Preparing for Bitcoin</p><p>50:00 Is Bitcoin's Bottom Already In? Richard's Market Outlook</p><p>50:59 The Return of Richard's Podcast & Where to Follow Him</p><p><br></p><p>Big thanks to Little Bubble for allowing us to use his song: "One Chair": https://open.spotify.com/track/0XW7JgR2Nlg7WXGOeVT64h?si=a344b82984f74f81</p><p><br></p><p>DISCLAIMER: This is not financial advice. This podcast is for educational and entertainment purposes only.</p><p><br></p><p>Thank you for listening!</p><p><br></p><p>Follow us on:</p><p>- X: https://x.com/OneChairPod</p><p>- Youtube: https://www.youtube.com/@OneChairPod</p><p><br></p><p>Referral links:</p><p>- Roxom: https://roxom.com/auth/signup?referral=a7m4wx</p>
96 total episodes available
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