Stephan Livera Podcast

Bitcoin’s Volatile Dominance with Cory Klippsten | SLP677

11 snips
Jul 22, 2025
Cory Klippsten, CEO of Swan Bitcoin and a passionate advocate for Bitcoin education, dives into the current trends shaping the crypto landscape. He highlights the declining trajectory of altcoins against Bitcoin and discusses the emerging interest in treasury companies. The conversation emphasizes Bitcoin's role as a long-term store of value and the risks associated with leverage in Bitcoin equities. Regulatory impacts and the potential for institutional adoption are pivotal themes, stressing the importance of understanding market dynamics for investors.
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INSIGHT

Altcoins Underperform Bitcoin Long-Term

  • Altcoins generally lose value against Bitcoin over time despite occasional rallies.
  • Only a few altcoins like Ripple and Dogecoin had a second Bitcoin-denominated all-time high historically.
INSIGHT

Strategy Behind Leveraged Bitcoin Equities

  • Leveraged Bitcoin equities (LBEs) use capital markets to purchase Bitcoin efficiently.
  • Well-managed companies with steady cash flow can leverage debt to accumulate Bitcoin at scale.
INSIGHT

From Convertible Debt to Preferred Shares

  • MicroStrategy’s convertible debt was cheap but costly due to conversion premiums benefiting arbitrage desks.
  • Preferred shares now offer a more sustainable and diverse capital structure for Bitcoin accumulation.
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