The Bitcoin Treasuries Podcast with Tim Kotzman Building in Public and Who's Going to Win the Fast & Furious AI Race with Matt McDonagh
Oct 24, 2025
Matt McDonagh, a tech investor and managing partner of McDonagh Family Office, dives into the evolving landscape of Bitcoin treasury companies and the importance of holding Bitcoin while maintaining lean operations. He identifies traits essential for building in public—like resilience and consistency—while sharing insights on how to harness AI effectively without relinquishing control. McDonagh also discusses which AI platforms could dominate, the rapid potential of one-person companies, and a fascinating theory on Elon Musk's multifaceted approach to humanity's future.
AI Snips
Chapters
Transcript
Episode notes
Why Bitcoin Treasury Hype Ebbed
- Bitcoin treasury mania cooled as supply of investable vehicles increased and attention diffused.
- Momentum initially drove high valuations but diffusion and rotation into other assets normalized prices.
Maximize NAV By Staying Lean
- Own as much Bitcoin as possible and keep the operating business minimal to maximize NAV multiple.
- Favor digital, low fixed-cost businesses that scale and avoid heavy real-estate ops.
Derivatives Change Price Mechanics
- Price action reflects both concentrated selling and growing derivative surface area like perpetuals.
- Futures, tokenized assets, and leverage diffuse demand and cause volatile liquidation events.