Dylan LeClair breaks down the rise of Bitcoin treasury companies, why corporate adoption may be hitting a “gradually then suddenly” inflection point, and whether Michael Saylor’s lead is now insurmountable.
We get into how Metaplanet scaled from a few hundred Bitcoin to 16,000+, what’s driving premiums over NAV, and why public capital markets are becoming the biggest buyers of Bitcoin.
Dylan also explains Saylor’s latest innovation, “Stretch", and explains why this could transform corporate balance sheets and fixed income markets.
In this episode:
- How corporate treasuries are competing in a winner-take-most market
- Why premiums to NAV compress - and when they could expand again
- The mechanics behind Stretch
- How liquidity, interest rates, and credit markets drive Bitcoin price action
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