Balancing Issuance and Dilution Risks

In this conversation, Pascal Huegli and Johan Bergman discuss their journey into Bitcoin, the investment strategies of Michael Saylor, and the intricacies of convertible debt and preferred equity in relation to Bitcoin investments. They emphasize the importance of understanding the capital stack, credit ratings, and risk management in investment strategies. The discussion also touches on the future of Bitcoin, the role of strategic liability reserves, and the potential for new investment opportunities in the evolving financial landscape. 

Chapters: 

00:00 Intro 

01:49 Introduction and Background 

06:52 The Journey to Bitcoin Understanding 

10:44 Michael Saylor's Investment Strategy 

12:00 Convertible Debt and Preferred Equity 

17:51 Understanding the Capital Stack 

22:31 Investor Attraction to Preferred Stocks 

28:12 The Role of Credit Ratings 

34:39 Investment Strategies and Arbitrage Opportunities 

41:43 The Critique of Bitcoin Yield 

45:34 Opportunities in Traditional Finance 

47:07 Managing Bitcoin Volatility 

47:43 The Flow of Capital into Bitcoin 

50:36 Understanding Stock Performance 

55:30 Phases of Bitcoin Treasury Companies 

56:40 Market Dynamics and Valuation 

01:03:01 Expectations for Bitcoin's Future 

01:07:24 The Role of Bitcoin in Financial Strategy 

01:09:42 Strategic Reserves and Market Preparation 

01:12:52 Preparing for Bear Markets 

01:18:09 Final Thoughts on Bitcoin Strategy 

Check out our sponsor👇 

https://mining.blockwaresolutions.com/lnms

Blockware is a Mining-as-a-Service platform that makes it easy for anyone to start mining Bitcoin straight from home! Get $100 off your first miner with discount code LNMS🔥

https://bitbox.swiss/lnms

BitBox is the best in class hardware wallet, I personally trust and use! Get 5% off your first order with discount code LNMS🔥

Follow Johan Bergman: 

https://x.com/johanmbergman 

Follow me👇 

Twitter - https://x.com/pahueg 

Nostr - npub1qhx7lnggpv64f0wt5xyjj7h90qh5ewu35pspr66sj8alc4gvcfjqqn04l8 

Get the latest in finance, crypto, and Bitcoin. Our newsletter provides clear, concise and actionable insights. Don't miss out—check out our Newsletter and subscribe today! 🔥⬇️ 

https://substack.com/@lessnoisemoresignal 

Bitcoin Book 👇 

Order from Europe: https://www.amazon.de/dp/1967693013 

Global: https://www.amazon.com/-/de/dp/B0F9W8Y283 

Thank you for subscribing to our channel! We’re excited to have you with us! 

#Bitcoin, #investmentstrategy, #MichaelSaylor, #preferredequity, #convertibledebt, #capitalstack, #creditratings, #riskmanagement, #investmentopportunities, #strategicreserves