New Foundations MSTR Masterclass with Ben Werkman of NumerisX — New Foundations E30
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Mar 21, 2025 
Ben Werkman, Founder of NumerisX and a leading voice in the MSTR True North community, dives deep into innovative Bitcoin strategies for businesses. He elaborates on how firms can navigate Bitcoin's volatility and the importance of effective treasury management. The conversation touches on MicroStrategy’s transition to secured debt amid market fluctuations and discusses governance frameworks to mitigate investment risks. Ben also compares financial products like STRK and STRF, revealing their implications for corporate finance in the evolving landscape of Bitcoin.
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Early Bitcoin Experience
- Ben Werkman bought Bitcoin at $270 in 2013, then sold it after a price pump.
- He later realized its true value and now focuses on accumulating Bitcoin.
MicroStrategy's Bitcoin Strategy
- MicroStrategy's Bitcoin acquisition intrigued Werkman, leading him to invest in the company.
- He later began analyzing and publicly discussing their strategy, connecting with the True North community.
MicroStrategy's Bitcoin Acquisition Potential
- If MicroStrategy's capital raises outpace Bitcoin's price, they can buy increasing amounts of Bitcoin.
- This raises the question of whether they could theoretically acquire all Bitcoin eventually.