

Bitcoin’s Golden Bull Run: Treasury Companies, Institutions & Macro Analysis w/ Charles Edwards
8 snips Aug 14, 2025
Charles Edwards, founder of Capriole Investments and a prominent macro strategist, shares insights into Bitcoin's rising market. He discusses the transformative influence of MicroStrategy's investments and the growing trend of digital asset treasury companies acquiring Bitcoin. The conversation highlights the significant role institutional buying plays in driving Bitcoin's price and examines market dynamics using innovative analytical models. Edwards also explores the advantages of crypto liquidity and the evolving landscape of digital assets.
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MicroStrategy Created A Playbook
- MicroStrategy showed other companies how to arbitrage cheap capital into Bitcoin and delivered outsized returns.
- That success plus regulatory shifts triggered exponential growth in public companies holding BTC.
Bitcoin-Only Treasury Companies Face Saturation
- The pure Bitcoin-only treasury company model will face saturation as the number of entrants grows.
- Firms will need unique value propositions beyond 'we buy BTC' to compete long term.
Institutional Demand Exceeds Miner Supply
- Capriole's metric shows institutions are buying multiple times daily mined supply, creating sharp supply-demand imbalances.
- When institutional demand exceeds miner supply, historical patterns show rapid, large price moves.