BITCOIN SEASON 2: The Great Bitcoin Treasury Bubble

BITCOIN SEASON 2: The Great Bitcoin Treasury Bubble

Bitcoin treasury strategies are all the rage, but are they actually sustainable? You're listening to Bitcoin Season 2. Subscribe to the newsletter, trusted by over 7,000 Bitcoiners: https://newsletter.blockspacemedia.com Welcome back to Bitcoin Season 2! Today, Colin and Charlie talk about the explosive growth of Bitcoin treasury companies and their financial engineering strategies. They break down Strategy's convertible debt playbook, examine why these companies trade at premiums to their Bitcoin holdings, and debate whether this trend is sustainable or an elaborate house of cards waiting to collapse. Subscribe to the newsletter! https://newsletter.blockspacemedia.com **Notes:** • MicroStrategy holds 592,100 Bitcoin • Q1 2025 revenue: $111 million • Convertible notes have 0-1% interest rates • Bitcoin needs to drop way low for liquidation • Preferred shares pay 8-10% dividends • Annual obligations: $10-20 billion Timestamps: 00:00 Start 02:59 Strategy (formerly micro) 10:42 Types of companies 15:13 Preferred stock 24:57 Closed end fund dynamics - 👋Bitcoin Season 2 is produced Blockspace Media, Bitcoin’s first B2B publication in Bitcoin. Follow us on Twitter and check out our newsletter for the best information in Bitcoin mining, Ordinals and tech! Enjoy the show? Check out our website and newsletter by clicking here. Questions or want to sponsor? hello@blockspace.media See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Episoder(3949)

The Blockspace Pod: How Bitcoin engineers are solving the quantum risk

The Blockspace Pod: How Bitcoin engineers are solving the quantum risk

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24 Jan 22min

Why Kevin O'Leary Sold 27 Crypto Positions, What He's Investing In Now  | Markets Outlook

Why Kevin O'Leary Sold 27 Crypto Positions, What He's Investing In Now | Markets Outlook

Kevin O’Leary reveals why he slashed 27 crypto positions to pivot into a massive $70B energy infrastructure play, focusing strictly on the dominance of Bitcoin, Ethereum, and the power required to fue...

23 Jan 28min

Coinbase Launches Borrowing Up to $1M Against Staked Ether | CoinDesk Daily

Coinbase Launches Borrowing Up to $1M Against Staked Ether | CoinDesk Daily

Coinbase now allows user to borrow $1M with staked ETH. Coinbase is now letting users borrow up to $1 million against their cbETH without selling. The move unlocks liquidity for U.S. investors but li...

23 Jan 2min

Blockspace Podcast: BitGo’s $2 Billion IPO, OpenAI’s Data Center Cost Dispute, ZBD Raises $40 million, and Farcaster Founder Steps Down

Blockspace Podcast: BitGo’s $2 Billion IPO, OpenAI’s Data Center Cost Dispute, ZBD Raises $40 million, and Farcaster Founder Steps Down

BitGo went public, the first crypto IPO of 2026! Plus, analysis on inflows into digital asset products, Bitcoin gaming app ZBD raising $40 million, and longtime Ethereum social media app Farcaster ann...

23 Jan 29min

Why Coinbase Pulled Support for the Market Structure Bill

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23 Jan 20min

Armstrong Clashes With Central Banker at Davos as Senate Delays Bill | CoinDesk Daily

Armstrong Clashes With Central Banker at Davos as Senate Delays Bill | CoinDesk Daily

Brian Armstrong debates with Bank of France governor at Davos. Coinbase CEO Brian Armstrong sparred with the Bank of France Governor at Davos, correcting him on Bitcoin's independence and pushing for...

22 Jan 2min

Charles Hoskinson Warns Partisan Politics Could Kill Crypto in the U.S.

Charles Hoskinson Warns Partisan Politics Could Kill Crypto in the U.S.

Charles Hoskinson, Founder of Input Output, unpacks the state of the blockchain. Input Output Founder Charles Hoskinson joins CoinDesk's Jennifer Sanasie to break down why network growth isn't reflec...

22 Jan 32min

Bitmine Gets the Green Light to Sell More Stock | CoinDesk Daily

Bitmine Gets the Green Light to Sell More Stock | CoinDesk Daily

Bitmine gets green light to sell more shares. Bitmine Immersion Technologies has secured shareholder approval to increase authorized shares, giving the firm flexibility to raise capital. But with the...

21 Jan 2min

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