The Hurdle Rate

The bar every investment must clear. Weekly.

Latest: All In On Bitcoin

Matt Cole, Ben Werkman, Jeff Walton, and Tim Kotzman dive into Bitcoin, energy, treasury management, markets, macro, AI, and more. Bitcoin is the hurdle rate for capital deployment — and there is substantial depth to that statement that we endeavor to explore.

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Latest: All In On Bitcoin

All Episodes (76)

76.All In On Bitcoin

The Hurdle Rate goes LIVE at the Bitcoin Treasuries Conference in New York, back where the Strive and Semler deal started a year ago. The panel looks back on that deal, which brought the two companies' roughly 6,000 and 5,000 Bitcoin together, and explains why getting bigger was what made SATA possible. Matt explains the game theory behind SATA's daily dividend now that Strategy is following suit, and why the two companies are playing different games. The panel also covers why Strive is aiming for total returns rather than Sharpe ratio, Matt's call for $500K Bitcoin by 2030, and what comes next for Bitcoin balance sheet companies. Here's the latest with Matt Cole, Jeff Walton, Ben Werkman, and Joe Burnett.

Sep 29, 2026

Sep 29, 2026 28:02 →

75.Growing Trust Grows Liquidity

In this week's Hurdle Rate, the crew breaks down Strive's latest 1,355 Bitcoin purchase, Bitcoin's breakout, and why short-term traders may miss the move. They also discuss how digital credit could reshape the next bull market, why liquidity is the clearest measure of trust, and what Michael Saylor and Warren Buffett teach about building balance-sheet companies. The episode closes on the affordability crisis and why Bitcoin may be the new American dream. Here's the latest with Matt Cole, Jeff Walton, Ben Werkman, and Tim Kotzman.

Sep 22, 2026

Sep 22, 2026 55:20 →

74.Podcasters Per Share

This week on The Hurdle Rate: Adam Livingston joins Strive as VP of Investments, Strategy buys back $139 million of STRC with stretch back near 99, and Strive adds 469 Bitcoin at an average cost of $77,954 while hitting an all-time high market cap of $2.75 billion. Jeff makes the case that trust is the real infrastructure of capital markets, and why Bitcoin makes that trust legible. We get into the Clarity Act, AI doomerism, and why the crew thinks the frontier labs are using fear to build a moat ahead of their IPOs. Matt takes macro with the 10-year touching 5%, what a short-term Bitcoin flush would actually look like, and why it would be the dream setup. We close with a capital markets recap and Strive's one-year anniversary. Here's the latest with Matt Cole, Jeff Walton, Ben Werkman, Adam Livingston, and Tim Kotzman.

Sep 15, 2026

Sep 15, 2026 1:06:32 →

73.The Billion Dollar Wall

In this week's Hurdle Rate, the crew discusses SATA hitting $999 million outstanding, Strategy doubling its STRC repurchase facility to $2 billion, and Strive adding another 1,000+ Bitcoin. Ben breaks down the art and science of running the desk and why amplification stays on. Matt makes the case that we've never seen a bull market with a perpetual preferred model in place. We also get into executive comp and shareholder alignment, and close on macro: what happens if the 10-year breaks 7%. Here's the latest with Matt Cole, Jeff Walton, Ben Werkman, and Tim Kotzman.

Sep 8, 2026

Sep 8, 2026 1:02:46 →

72.Building on Digital Credit

In this week's Hurdle Rate, the crew unpacks a market that has come roaring back to life, from Strategy returning as a Bitcoin buyer at 0% net leverage to Strive growing its stack 14.4% in two weeks to 23,156 Bitcoin. Jeff brings back lessons from Bitcoin Asia, where investors are building structured finance on top of Bitcoin and digital credit faster than the US, and we dig into why STRC hasn't snapped back to par, how amplification and liquidity have to be earned rather than dialed in, and why Strategy's balance sheet may be the most misunderstood credit story in the market. We then take on MSCI's proposed exclusion of digital asset treasury companies and why it would effectively make index providers investment advisers, before closing on macro: fiscal dominance, why long-end yields go higher whether the Fed hikes or cuts, and why this is a backdrop Bitcoin has never seen. Here's the latest with Matt Cole, Jeff Walton, Ben Werkman, and Tim Kotzman.

Sep 1, 2026

Sep 1, 2026 1:02:58 →

71.Liquidity Is The Moat

In this week’s Hurdle Rate, the crew breaks down an explosive week across Bitcoin treasury markets, from Strategy reaching 0% net leverage and expanding its cash reserves to Strive growing its Bitcoin stack and seeing major liquidity across ASST and SATA. We dig into why liquidity itself can become a powerful competitive moat, how rising short interest could amplify ASST, and why Strive has chosen to let that pressure build rather than immediately satisfy large block demand. The conversation then turns to the macro setup, including a potentially weaker dollar, Treasury buybacks, rising long-term yields, and why those forces could create a backdrop for Bitcoin unlike anything it has experienced before. We close with the case for Bitcoin entering a broader melt-up in scarce assets, why the traditional four-year cycle may be breaking down, and why the crew believes investors still aren’t bullish enough. Here's the latest with Matt Cole, Jeff Walton, Ben Werkman, and Tim Kotzman.

Aug 25, 2026

Aug 25, 2026 51:54 →

70.Digital Credit Is The Product

In this week’s Hurdle Rate, the crew reacts to Strategy’s latest investor Q&A and breaks down why the company is prioritizing STRC, building cash reserves, and treating Bitcoin as flexible capital. We dig into why Bitcoin has held firm despite Strategy selling, the Coldcard self-custody exploit, and broader market stress, and what that resilience could signal about the bear market. The conversation then turns to NVIDIA’s massive structured-finance deal, how the company is lending its balance sheet and creditworthiness to accelerate OpenAI’s infrastructure buildout, and what it reveals about the growing convergence of AI, credit, and capital markets. We close with OranjeBTC’s DIGY11 ETF and the expansion of digital credit into Brazil. Here's the latest with Tim Kotzman, Matt Cole, Joe Burnett, and Ben Werkman.

Aug 18, 2026

Aug 18, 2026 55:15 →

69.What's New With Strive?

In this week’s Hurdle Rate, the crew breaks down Strive’s Q2 results, including a 23.9% Bitcoin yield and how the company’s incentive structure supports its broader Bitcoin treasury strategy. We then turn to Strive’s refreshed website and redesigned Bitcoin Dashboard, exploring how the new tools improve transparency, make key treasury metrics easier to understand, and give investors a clearer view of the company’s performance. Here's the latest with Matt Cole, Jeff Walton, Ben Werkman, and Joe Burnett.

Aug 10, 2026

Aug 10, 2026 51:13 →

68.Look For The Helpers

In this week's Hurdle Rate, the crew breaks down the Coldcard self custody exploit and how the Bitcoin community responded to it, before turning to what the event revealed about how few people understood the cryptography they were relying on. We dig into the yen hitting its weakest level in forty years and what a fragile treasury market means for everyone holding dollars, Strategy's decision to sell Bitcoin and build a cash reserve, and the game theory behind buybacks. We close with a deeper look at the traditional capital that is starting to fill gaps this market used to fill on its own. Here's the latest with Tim Kotzman, Matt Cole, Jeff Walton, and Ben Werkman.

Aug 4, 2026

Aug 4, 2026 47:43 →

67.We’re Playing For Trillions

In this week’s Hurdle Rate, the crew breaks down Strategy’s Q2 2026 earnings call and its focus on returning STRC to par while building a trillion-dollar digital credit market. We explore why liquidity, simplicity, and preserving Bitcoin’s upside remain central to the strategy, along with the risks of borrowing against Bitcoin or using derivatives for short-term cash flow. Matt and Ben share lessons from meeting investors in Hong Kong, while Jeff explains how Strive is working to differentiate itself within the insurance industry. We close with a discussion on bringing Bitcoin to traditional institutions and the Federal Reserve’s shift away from heavy forward guidance. Here’s the latest with Tim Kotzman, Matt Cole, Jeff Walton, and Ben Werkman.

Jul 31, 2026

Jul 31, 2026 45:09 →

66.Social Investing

In this week’s Hurdle Rate, the crew breaks down the slow summer market and strategy's focus on building up its balance sheet to improve credit quality. We explore how Strategy and Strive are navigating macro uncertainty, steadying operations, and executing consistent Bitcoin buys through the summer doldrums. We also dig into the derivatives market, short interest dynamics for ASST and SATA, and how lending out shares ultimately impacts corporate dividend payments and tax treatment. We close with a broader discussion on structured finance, the emergence of AI agents in retail investing, and the long-term potential of building durable digital credit structures to onboard massive institutional capital into the Bitcoin era. Here’s the latest with Tim Kotzman, Matt Cole, Jeff Walton, and Ben Werkman.

Jul 21, 2026

Jul 21, 2026 59:23 →

65.Shifting Institutional

In this week’s Hurdle Rate, the crew opens with updates from Strategy, Strive, and the digital credit market before recapping the major developments from Q2. We cover Strategy’s growing cash reserve, market feedback, and the evolution of Bitcoin-backed credit. We also explore institutional adoption, structured products, AI, intellectual property, and the limits of government intervention in the debt crisis. We close it off with thoughts on outdated financial systems and Bitcoin’s expanding role in traditional capital markets. Here’s the latest with Tim Kotzman, Matt Cole, Jeff Walton, and Ben Werkman.

Jul 14, 2026

Jul 14, 2026 58:26 →

64.Building The Track Record

In this week’s Hurdle Rate, the crew breaks down Strategy’s sale of Bitcoin to fund dividend payments and why the market’s reaction may signal growing confidence in Bitcoin as a liquid capital asset. We explore how Strategy and Strive are using balance sheet management, digital credit, and capital markets access to keep their models moving through volatility. We also dig into SATA’s short interest, the idea of a “controlled burn,” and how Strive is thinking about protecting shareholders while allowing the market to function. We close with a broader discussion on patience, positioning, and building durable structures in the Bitcoin capital markets era. Here's the latest with Tim Kotzman, Matt Cole, Jeff Walton, and Ben Werkman.

Jul 7, 2026

Jul 7, 2026 45:27 →

63.The Digital Credit Capital Framework

In this week's Hurdle Rate, the crew opens with the latest on digital credit volatility and the broader market backdrop, before digging into Strategy's capital framework and how management is navigating stress in the system. The conversation turns to institutional behavior, the realities of managing

Jun 30, 2026

Jun 30, 2026 1:14:13 →

62.Digital Credit Weakness

In this week's Hurdle Rate, the crew breaks down the mechanics of volatility and liquidation events, before turning to shifting investor behavior and how markets react to sudden liquidations. We dig into how digital credit stacks up against traditional financial instruments, the innovations shaping

Jun 22, 2026

Jun 22, 2026 53:46 →

61.What’s Your Time Preference?

In this week’s Hurdle Rate, the crew opens on accelerating market activity and the role of bitcoin in USD reserve thinking, before working through a holistic capital structure strategy and how to design long-term capital vehicles around it. We dig into recent Bitcoin flows, the SpaceX IPO and other

Jun 16, 2026

Jun 16, 2026 52:48 →

60.The Math of Amplification

In this week's Hurdle Rate, the crew breaks down the latest corporate Bitcoin market activity and Strive's growing Bitcoin holdings, before turning to Strategy's Bitcoin sale and what the balance sheet math actually reveals about risk and permanent impairment. We dig into historical bear market scen

Jun 2, 2026

Jun 2, 2026 50:40 →

59.Scale Like Crazy

In this weeks Hurdle Rate the crew breaks down Strategy's latest debt retirement and what it signals about capital structure and market perception, before turning to Strive's growing Bitcoin holdings, the launch of SATA daily dividends, and what the firm's market cap reveals about treasury efficienc

May 27, 2026

May 27, 2026 48:05 →

58.Exponential Innovation

The crew on Strive's evolution into 'The Daily Dividend Company' and what it means for the future of financial products: ringing the opening bell at Nasdaq, how Strive paid off its debt, the magnitude of the opportunity, the infrastructure behind the scenes, and where Bitcoin fits in Strive's long-term future.

May 19, 2026

May 19, 2026 55:19 →

57.The Answer Is Trillions

The crew is back this week reacting to MSTR’s latest earnings call and what it could mean for the future. They then dive into the rise of digital credit and if it's too good to be true. Finally, they close with a discussion around the FDIC, monetary risk, and the broader implications for the financial system moving forward.

May 6, 2026

May 6, 2026 55:16 →

56.The User Experience

The crew discusses Strategy's passing of BlackRock in Bitcoin holdings and what it could signal for broader markets, whether the tokenized ecosystem is actually providing value, how AI tools are reshaping portfolio construction, and wraps up with Schwab's approach to Bitcoin education.

Apr 21, 2026

Apr 21, 2026 54:15 →

55.A Structural Shift

The crew is back this week discussing Digital Credit’s big month and what it signals for markets. They then explore capital flows, before rethinking credit in today’s environment and wrapping with a discussion on the end of the 60/40 portfolio. Here's the latest with Tim Kotzman, Matt Cole, Jeff Wal

Apr 14, 2026

Apr 14, 2026 51:01 →

54.The Management of The Treasury

The crew on the growing risks around the US debt crisis and what it could mean for markets, how AI is rapidly disrupting the startup economy, debasement and portfolio construction in this environment, and which non-Bitcoin companies could still be attractive going forward.

Apr 7, 2026

Apr 7, 2026 52:11 →

53.Bitcoin, AI and The New QE

The crew discusses the growing risks around the US debt crisis and what it could mean for markets, how AI is rapidly disrupting the startup economy, debasement and portfolio construction, and which non-Bitcoin companies could still be attractive going forward.

Apr 4, 2026

Apr 4, 2026 1:00:15 →

52.An Increasingly Digital World

Tim Kotzman joins Jeff Walton, Ben Werkman, and Matt Cole to discuss Strategy's new at-the-market programs ($21B for STRC, $21B for MSTR, and a reduction of STRK's ATM from $21B to $2.1B), the framing of digital credit as a Bitcoin-backed yield product, private-credit gates as a liquidity event versus a default event, commercial real estate pressure, and how public high-yield ETFs behaved through prior crashes.

Mar 25, 2026

Mar 25, 2026 53:55 →

51.A Digital Credit Treasury | The Hurdle Rate Podcast Ep.51

Strategy just bought more than 22,000 Bitcoin, but the bigger story may be what comes next. In this episode of The Hurdle Rate, the team breaks down digital credit, Bitcoin-backed treasury strategy, yield, liquidity, and why products like Stretch and Saya could reshape corporate finance. If you want

Mar 17, 2026

Mar 17, 2026 1:00:34 →

50.Some Pretty Good Money Printing

The crew kicks things off with Strategy's latest moves and what they could mean going forward. They then discuss the milestone of the 20 millionth Bitcoin being mined and what it says about Bitcoin's supply schedule. The back half shifts to a broader conversation about the speed at which AI is advancing.

Mar 10, 2026

Mar 10, 2026 1:00:34 →

49.Digital Credit is for Corporations

The crew is back this week and dives straight into Bitcoin as digital freedom money amid growing global uncertainty, followed by a full Strategy World recap. They examine whether STRC itself represents The Hurdle Rate, then look at how traditional finance showed up at Strategy World and what that signals. The back half of the episode focuses on the liquidity component and wraps with closing thoughts. and

Mar 2, 2026

Mar 2, 2026 1:09:50 →

48.Bullish Digital Credit

The crew is back with a wide-ranging breakdown of the week’s biggest themes. They kick things off with reflections on Bitcoin Investor Week and Matt’s debate with Grant Cardone, then dig into how amplification works in a bear market and what it means for positioning. From there, the conversation shifts to the true risk profile of digital credit instruments, private credit and the compounding effects of GDP and government spending, and closes with a discussion on AI disruption and the realities of a K-shaped economy. Here’s the latest with III Capital, and.

Feb 18, 2026

Feb 18, 2026 54:11 →

47.A Time To Build

The crew is back with a wide-ranging breakdown of the week’s biggest themes. They discuss what’s happening on the ground at Bitcoin Investor Week in NYC, then dive into the ongoing debate around bull versus bear markets and whether the market has finally found a bottom. The episode wraps with a discussion of Strategy’s latest earnings call and what it signals going forward. Here’s the latest with III Capital

Feb 10, 2026

Feb 10, 2026 49:14 →

46.Build The Structure

The crew is back to unpack Kevin Warsh as Fed Chair, Clawdbots & Moltbook, and the pref-only model and digital risk—plus a separate discussion on Bitcoin as a term asset and what a potential supercycle could mean.

Feb 3, 2026

Feb 3, 2026 49:31 →

45.Preferred Equity Demand

The crew is back to discuss preferred equity and potential systemic risk to Bitcoin, the Strive + Semler M&A transaction being the first in Bitcoin treasuries, the IBIT Bitcoin covered call ETF, gold and silver price action, what Japan is saying to the world right now, and Bitcoin in an action-packed 2026. and

Jan 28, 2026

Jan 28, 2026 1:05:10 →

44.Digital Credit Clarity

The crew is back to discuss Strategy's latest, credit spreads tightening, Coinbase pulling out of the clarity act and the Bitcoin treasury podcast industrial complex. and

Jan 20, 2026

Jan 20, 2026 57:23 →

43.The Best Message Is Digital Credit

The crew is back to discuss Strategy's latest Orange Buy, Saylor on What Bitcoin Did, disenchantment with the Fed, caps on credit card interest, the Strive Semler Scientific merger, and more.

Jan 13, 2026

Jan 13, 2026 1:02:48 →

42.Pensions, Private Equity & Digital Credit

The crew is back to discuss Strategy's latest green and orange buys as it gears up for a massive 2026, a look back at 2025 and year zero of digital credit, capital allocation and pension funds, and the outlook for 2026.

Jan 6, 2026

Jan 6, 2026 1:02:24 →

41.Structurally Bullish

The crew is back to reflect on 2025, discuss The Bitcoin Era, amplification and the power of compounding, the year of Bitcoin Treasuries, and much more.

Dec 23, 2025

Dec 23, 2025 59:40 →

40.Set Up For A Supercycle

The crew is back to discuss the latest on Bitcoin, the possibility of a decade long supercycle, the OCC approving additional bank charters, valuations, Strategy staying in the Nasdaq 100, and more.

Dec 16, 2025

Dec 16, 2025 46:30 →

39.The Hurdle Rate Is High

The crew is back to discuss the latest at the Bitcoin MENA conference, the progression of banks and sovereigns entering Bitcoin services and the Bitcoin accumulation race, and Bitcoin as the hurdle rate.

Dec 9, 2025

Dec 9, 2025 41:28 →

38.The Incentives Are Aligned

The crew is back to discuss the latest news with Vanguard allowing Bitcoin ETFs and mutual funds on their platform, Strategy's USD Reserve, and the STRC dividend rate hike.

Dec 2, 2025

Dec 2, 2025 58:20 →

37.Meet Them Where They're At

Bitcoin just bounced from a violent drop to $80K as fear surged across markets — but according to the Hurdle Rate team, the real catalyst wasn’t panic selling. It was structural: MSCI reconsidering Bitcoin-heavy balance sheets, mispriced liquidation fears, leverage washouts, and sentiment misreads.

Nov 25, 2025

Nov 25, 2025 53:20 →

36.Inside the Digital Credit Revolution

The crew is back covering Bitcoin Amsterdam, the Cantor Crypto & AI/Energy Infrastructure Conference in Miami, volatility in the prefs, underwriting Bitcoin, and more.

Nov 18, 2025

Nov 18, 2025 54:40 →

35.Amplified Bitcoin and Digital Credit

Bitcoin treasury companies are entering the digital credit era — using perpetual preferred equity to turn volatile Bitcoin into stable, high-yield, Bitcoin-powered credit. In this episode of The Hurdle Rate, the team breaks down the new Saya IPO, rock (return of capital) dividends, and equity-only amplification.

Nov 10, 2025

Nov 10, 2025 1:20:08 →

34.The Preferred Strategy is Digital Credit

Bitcoin treasury companies are quietly building an entirely new digital credit market on top of the strongest asset on earth: Bitcoin. In this episode of The Hurdle Rate, Matt Cole, Ben Werkman and Jeff Walton break down Strategy’s Q3 earnings, the launch of STREAM in Europe, tax-deferred return-of-

Nov 4, 2025

Nov 4, 2025 51:48 →

33.Credit Ratings for Digital Capital

The crew is back covering Strategy's credit rating, how this could impact the insurance industry, interest coverage ration and industry credit ratings, what it will take for Bitcoin Treasury Company credit ratings to go higher, Mike Alfred, big volumes, and more.

Oct 28, 2025

Oct 28, 2025 54:21 →

32.Strategic Risk Taking

The crew is back covering Tim's latest Bitcoin Treasuries Digital Conference, sentiment versus conviction with Bitcoin Treasury Companies, strategic risk taking, and more.

Oct 22, 2025

Oct 22, 2025 52:55 →

31.The Digital Credit Landscape

A record liquidation ripped through “crypto,” but Bitcoin held the bid. We break down the stablecoin-driven exploit, cascading leverage, and why capital fled to Bitcoin—the most liquid, institutionally viable asset in digital markets. Expect higher volatility, tighter spreads later… and stronger con

Oct 14, 2025

Oct 14, 2025 1:01:18 →

30.Focus on the Future

Ben joins Strive as CIO, tribalism and doubt in the Bitcoin community, the fastest-growing ETF of all time, and how the corporate alternative minimum tax affects Bitcoin treasuries.

Oct 7, 2025

Oct 7, 2025 47:56 →

29.Bitcoin Supercycle

Tim goes all-in on Bitcoin, the case for a Bitcoin supercycle, BTC versus other store-of-value assets, the UK digital ID rollout, and Strategy's first dividend day.

Sep 30, 2025

Sep 30, 2025 52:54 →

28.The M&A Era Has Begun

Joe Burnett joins to discuss Strive's acquisition of Semler Scientific, the power of meeting Bitcoiners in person, behind-the-scenes from the NYC Unconference, and operating with a long-term view.

Sep 23, 2025

Sep 23, 2025 50:33 →

27.The Starting Line

Strive announces its Board of Directors, the anticipated Fed rate cut, the upcoming Bitcoin Treasuries Unconference in New York, and options trading on preferred securities.

Sep 16, 2025

Sep 16, 2025 53:03 →

26.Zoom Out - We're Early

Pierre Rochard joins to discuss Strategy's S&P 500 exclusion, how Michael Saylor reframes the world of risk, and the evolving landscape of Strategy's ATM programs.

Sep 9, 2025

Sep 9, 2025 43:02 →

25.Will Travel for Bitcoin

Bitcoin Asia just drew 20,000 people — but adoption in Asia still lags the U.S. by years. Treasury companies like Strategy are proving that perpetual Bitcoin accumulation is the only real hedge against inflation, fiat debasement, and Fed “independence” theater. From STRC yield mechanics to corporate

Sep 3, 2025

Sep 3, 2025 44:07 →

24.Fed Signals and Equity Stakes

Guest host Avik Roy joins for Strive's major announcement, the Fed's Jackson Hole symposium signals, Intel's relationship with the US government, and a Bitcoin Treasuries Unconference update.

Aug 26, 2025

Aug 26, 2025 59:29 →

23.Noise in the Market

Bitcoin treasury companies trading below 1x mNAV, the gold revaluation thesis, executive compensation structures in BTC treasuries, and preferred liquidation preference mechanics.

Aug 19, 2025

Aug 19, 2025 56:56 →

22.Commodity, Security, Token

Bo Hines moves to the private sector, the viability of ETH treasury companies at scale, Tim's NYC Unconference recap, and Strategy's five-year Bitcoin anniversary.

Aug 13, 2025

Aug 13, 2025 52:04 → 21

21.The Intelligent Leverage Trade: Winter Isn't Coming Back

Recapping Strategy's earnings call, the ATM adjustment, Bitcoin per share metrics, why leverage ratios matter most, and whether Bitcoin treasury companies could trigger the next bear market.

Aug 5, 2025

Aug 5, 2025 58:54 → 20

20.Convert to IPO

Strategy's STRC IPO, convertible notes and earnings expectations, the absence of ATM usage, a US-EU trade deal, and mNAV as a store-of-value indicator.

Jul 29, 2025

Jul 29, 2025 52:58 → 19

19.A Huge Wave of Capital isn't a STRC

Breaking down Strategy's new STRC preferred product, real estate versus perpetual preferred securities, whether a crypto winter could return, and Ben's path to joining Strive.

Jul 23, 2025

Jul 23, 2025 54:38 → 18

18.Transparency is Not Priced In

Strategy's latest Bitcoin buy, why altcoin treasury strategies fall short, AI's impact on Bitcoin treasury companies, the mispricing of risk, and new tariffs making no dent.

Jul 14, 2025

Jul 14, 2025 48:21 → 17

17.Strategy hits their STRD

Jeff's big announcement, what STRD's ATM facility means for investors, how large a company should be before issuing preferred products, and Elon Musk declaring fiat hopeless.

Jul 8, 2025

Jul 8, 2025 39:54 → 16

16.Dividend Drip

Strategy enters the Russell Top 200 Value Index, stock markets hit all-time highs, Metaplanet climbs to #5 on the Bitcoin Treasury leaderboard, and whether this run scares off investors.

Jul 1, 2025

Jul 1, 2025 52:06 → 15

15.Billions in Bitcoin Treasuries

The crew covers the latest including BTC Prague, new announcements in the Bitcoin Treasuries space, the digital transformation of investor relations, and Matt Cole joining True North.

Jun 24, 2025

Jun 24, 2025 55:20 → 14

14.The World's Evolving

The crew covers the latest including alt coins announcing Bitcoin Treasury strategies, Chanos, the US dollar, Saylor's latest buy, and more.

Jun 17, 2025

Jun 17, 2025 51:23 → 13

13.Building for Decades

The crew weighs in on American politics, describes Bitcoin Treasury Companies as tax-advantaged perpetual Bitcoin dividend drips, and walks through a 20-30% debt to equity ratio.

Jun 10, 2025

Jun 10, 2025 56:29 → 12

12.Upgrade with Junk Grade

Real-time analysis of Strategy's STRD announcement, the Bitcoin cycle peak question, James Wynn's leveraged trade, and what the Bitcoin interest rate should be.

Jun 3, 2025

Jun 3, 2025 48:17 → 11

11.People Are Dancing

The crew reports in from Las Vegas with a recap from the Bitcoin 2025 conference. They cover the power of communication, getting your hands dirty with alpha and beta, reigniting creativity, and more.

May 30, 2025

May 30, 2025 42:29 → 10

10.Have Bitcoin - Get Money

Strategy's latest major Bitcoin acquisition, Semler Scientific's board shakeup, Jamie Dimon's Bitcoin critique, the US debt downgrade, and the class action lawsuit against Strategy.

May 20, 2025

May 20, 2025 58:24 → 9

9.A Movement Has Started

Why retail investors may understand the Strategy playbook better than institutions, the case for boldness in Bitcoin treasury strategy, and the themes that will define the next phase.

May 13, 2025

May 13, 2025 51:12 → 8

8.Strategy World Recap - A Revolution Ignited

Live recap from Strategy World and the Bitcoin for Corporations Conference in Orlando — Strive's announcement, Saylor's AI-driven fixed income approach, and key takeaways from the crew.

May 8, 2025

May 8, 2025 34:36 → 7

7.Fully Torqued Bitcoin

Deep dive on Strategy's earnings call, the 42/42 capital plan, permanent leverage without refinancing risk, and using BTC risk for credit analysis across the capital structure.

May 3, 2025

May 3, 2025 49:39 → 6

6.Win or Win More

Strategy earnings breakdown, 21 Capital's announcement, the GameStop Bitcoin treasury delay, and whether Ray Dalio is too late to the party.

Apr 29, 2025

Apr 29, 2025 58:17 → 5

5.DXY vs. Store of Value Assets

We're back covering the DXY, Gold versus Bitcoin, interest rates, stagflation, Strategy, Metaplanet and Bitcoin dominance. Broadcasting from California, the PNW, Michigan and New York City: This is The Hurdle Rate for the week of April 21, 2025.

Apr 23, 2025

Apr 23, 2025 53:26 → 4

4.Bitcoin Portfolio Theory

Monte Carlo simulations for Bitcoin portfolios, Strategy's mNAV analysis, Strive's engagement with Intuit, and the latest macro and tariff developments.

Apr 16, 2025

Apr 16, 2025 1:08:15 → 3

3.Negotiating with Penguins

This week we discuss deficit based tariffs, the US workforce, Universal Basic Income, volatility in the market, penguins, AI, and more.

Apr 9, 2025

Apr 9, 2025 55:57 → 2

2.Trump Tariff Armageddon

This week and cover GameStop, Metaplanet, Liberation Day and more!

Apr 2, 2025

Apr 2, 2025 1:05:59 → 1

1.Welcome to the Hurdle Rate Podcast

Dive into Bitcoin, energy, treasury management, markets, macro, AI and more. Bitcoin is the hurdle rate for capital deployment, but there is substantial depth to that statement that we endeavor to explore.

Mar 26, 2025

Mar 26, 2025 1:41:38 →

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