George Bodine joins the show for a wild conversation about the fourth turning, AI, quantum, and why he believes the next 3?5 years will be the most volatile period in Bitcoin history.

We get into his insane life story ? from trailer parks to flying F-18s at Top Gun, ejecting from a crashing jet, working underground as a miner, becoming a pro artist, and eventually going all-in on Bitcoin.

George breaks down why he thinks the financial crisis never ended, how AI and robotics will erase millions of jobs, the global arms race for compute and energy, and why quantum could hit faster than people expect. We dig into Bitcoin?s real threats ? mining centralisation, quantum-vulnerable coins, BIP444, and the Core vs Knots fight dividing the community.

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Phong Le, CEO of Strategy, joins the show to break down exactly how the world?s biggest Bitcoin treasury company works. The Bitcoin-backed credit markets, the preferreds, the leverage, and how Strategy keeps buying Bitcoin in bull and bear markets.

We dig into how MicroStrategy pivoted during 2020, how Phong and Michael Saylor built the Bitcoin treasury model from scratch, and why Strategy believes Bitcoin is still radically undervalued. Phong explains Strike, Strife, Stride, and Stretch, how these preferreds create Bitcoin yield, why they work even when price is down, and how Strategy thinks about dilution, MNAV premiums, and raising billions without selling sats.

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Max Guise from Block joins the show to break down one of the biggest leaps forward for Bitcoin self-custody: BitKey?s new privacy upgrade, why it matters, and how it removes one of the last major trade-offs between safety and privacy.

We get into how BitKey?s new chaincode-delegation system prevents Block from seeing balances or transactions, and why this BIP unlocks a new era for private, user-friendly multisig.

We also get into Square switching on Bitcoin payments across the US and why that?s a much bigger deal than most people realise - removing the friction of onboarding merchants and making Bitcoin everyday money. As well as the structural risk of mining centralisation, how relying on a handful of foreign ASIC manufacturers threatens Bitcoin?s long-term resilience, and how Proto?s approach is designed to spread hashpower, strengthen the network, and give miners real optionality for the first time in years.

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Checkmate and Alec Dejanovic from Checkonchain break down what?s really happening with Bitcoin?s price. The unprecedented long-term holder sell-off, the spot buyers absorbing billions, and why this cycle looks less like a normal bull market and more like a Great Rotation.

We get into old coins coming back to life, sovereign accumulation, stalled ETF flows, and why the real story isn?t who is selling, it?s who has the balance sheet to buy this much Bitcoin. Checkmate also explains the true market mean at $82K, how to spot bottom formation, why 70% of Bitcoin?s cost basis now sits above $85K, and how ETFs and iBit options are reshaping Bitcoin?s entire market structure.

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Mark Suman is the co-founder of Maple, a fully private, open-source AI.

Mark breaks down how Big Tech and governments are using AI to harvest data, profile behaviour, and build the foundations of a coming surveillance system. We get into closed-source models tracking your thoughts and emotions, AGI hype vs reality and the rise of Chinese open-source AI and why private, verifiable AI is the only path that doesn?t lead to mass influence and behavioural control.

We also get into how anonymous AI accounts are only possible with Bitcoin, why Lightning and eCash still matter, how miners are navigating the AI-compute boom, and why open protocols are the only safeguard in a world where AI intermediates your money, identity, and communication.

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Lyn Alden is a macroeconomist, investor, and the author of Broken Money, known for her deep analysis of liquidity cycles, fiscal dominance, and long-term market structure.

In this episode, Lyn breaks down the major macro shift happening right now, the end of quantitative tightening, the turning point in global liquidity, and what this means for Bitcoin, gold, interest rates, and risk assets. She explains why QT is effectively finished, how repo market stress is signalling a balance-sheet pivot, why fiscal dominance is driving inflation, and why Bitcoin?s stagnation has more to do with liquidity and capital rotation than the halving cycle.

We discuss the real reason Bitcoin is flat in 2025, how AI has redirected investment flow away from BTC, why OG-holder distribution still shapes every cycle, and why the four-year Bitcoin cycle is dead. Lyn also breaks down gold?s explosive run, the mechanics of fiscal deficits, the ?nothing stops this train? thesis, and how the next phase of global liquidity will impact Bitcoin, gold, equities, and the broader macro environment.

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Rob Hamilton is the co-founder and CEO of Anchor Watch, a Bitcoin custody and insurance provider.

In this episode, Rob breaks down BIP-444, the proposed soft fork aimed at stopping spam. He explains why it represents the most contentious governance moment since the block-size wars, what the proposal actually changes, how it could trigger chain splits and reorgs, and why he believes the effort has almost no chance of success.

We discuss the economics, incentives, and psychology behind the new fork movement, why filters failed, how miners really behave under fee pressure, and why futures markets can ultimately determine whether a fork has any economic weight.

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SeedSigner is an open-source Bitcoin signing device.

In this episode, SeedSigner breaks down why trustless hardware matters and why Bitcoin security is a journey, not a destination. He explains how hardware wallets have become a ?cat-and-mouse? game of exploits and firmware trust, why he chooses to trust math over manufacturers, and how SeedSigner gives users a verifiable, DIY alternative to commercial wallets.

We discuss the evolution of Bitcoin custody, from paper wallets to multisig, and how SeedSigner empowers users to hold keys without relying on opaque supply chains. SeedSigner also shares lessons from his years in digital forensics, why most people?s threat model is themselves, and how open-source sovereignty could become Bitcoin?s last line of defence against capture.

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Matthew Mezinskis is a macroeconomic researcher, host of Crypto Voices and creator of Porkopolis Economics.

In this episode, Matthew breaks down why Bitcoin doesn?t grow exponentially like traditional finance, it grows on a power curve. He explains why this difference matters for sustainability, how it challenges credit-based systems, and what it means for the long-term coexistence of Bitcoin and fiat money.

We discuss how the power law reveals Bitcoin?s proportional and sustainable growth, why exponential systems like debt-driven markets inevitably face booms and busts, and how Bitcoin could eventually pull TradFi into a Bitcoin world rather than be absorbed by it. Matthew also explores Bitcoin?s growing dominance as base money, comparing its scale to global cash and reserves, and why its next major milestone is surpassing U.S. cash in circulation.

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The Rational Root is an on-chain analyst and the creator of the Bitcoin Strategy platform.

In this episode, Root breaks down whether Bitcoin?s four-year cycle is truly over. He explains why the recent correction ?broke the structure? of the bull market, why early Bitcoiners are taking profits at $100K, and how this institutional ?IPO moment? could define Bitcoin?s next decade.

We discuss what the data says about long-term holder sell pressure, diminishing returns, and the lengthening of business cycles ? and why Bitcoin may now be entering a phase of slower, more stable growth led by institutions and nation-states.

Root also shares why he believes Bitcoin is still massively undervalued compared to other assets, why the current distribution phase is healthy, and why patience will be rewarded for those thinking in years, not weeks.

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Ben Perrin is the creator and host of BTC Sessions, one of Bitcoin?s longest-running educational channels.

In this episode, Ben breaks down what true Bitcoin self-custody looks like ? from beginner-friendly wallets to advanced multi-sig setups ? and explains how to protect your family?s Bitcoin if something happens to you. We discuss the trade-offs between wallets like BitKey, Coldcard, Trezor and Ledger, how inheritance planning really works, and why too much complexity can be your biggest risk.

We also explore what it means to live entirely on Bitcoin, how Ben helped build a thriving circular economy in Calgary, and why teaching the next generation to value freedom over convenience might be the most important inheritance of all.

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Marty Bent is the Founder of TFTC and Managing Partner at Ten31, Erik Cason is the Co-Founder of Vora, and American HODL is? American HODL.

In this Bitcoin Whitepaper Day special, marking 17 years since Satoshi published the paper that changed the world, the three reflect on Bitcoin?s wild evolution from a fringe internet experiment to a $2 trillion, geopolitically relevant asset. We discuss how Bitcoin can free society from financial decay, why the future risks sliding into either communism or fascism, and why Bitcoiners must walk the narrow middle path to preserve individual sovereignty.

We get into the Trojan horse of institutional adoption, the spiritual war at the heart of money, and what it means to build in an age of surveillance.

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Marty Bent: https://x.com/MartyBent or https://primal.net/marty

Obi Nwosu is the CEO and co-founder of Fedi.

In this episode, Obi explains how Bitcoin can uplift billions by creating new forms of community-based finance, why privacy is the dividing line between freedom and surveillance, and how tools like Fedimint and Fedi are re-engineering what custody means for the world.

Obi also warns that if Bitcoin drifts toward convenience at the cost of freedom, it could become the surveillance system it was designed to escape. The only way to protect financial liberty is to build systems that are decentralized and private.

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Alex Gladstein is the Chief Strategy Officer at the Human Rights Foundation and author of Check Your Financial Privilege and Hidden Repression.

In this episode, Alex explains why Bitcoin is the most powerful tool for human rights in the 21st century, freedom money that protects people from surveillance, censorship, and financial control.

Alex breaks down how money evolved from an instrument of freedom to a weapon of control, how governments now use financial repression as their first tool of censorship, and why Bitcoin is the only technology capable of reversing that trend. He discusses his new essay for The Journal of Democracy, how it reframes Bitcoin as a human rights revolution rather than a financial asset, and why even stablecoins ultimately strengthen state power instead of limiting it.

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Nik Bhatia is a financial researcher and the author of Layered Money and The Bitcoin Age.

In this episode, Nik explains why last week?s repo market spike was a potential warning shot that liquidity in the system is drying up. He breaks down how the Fed?s plumbing actually works, why banks are hoarding reserves instead of lending them, and what it means when the ?floor and ceiling? of the system stop holding.

Nik argues that quantitative tightening is reaching its limits and that a new era of liquidity is coming, not necessarily from the Fed, but from a massive private credit boom. He lays out why this will supercharge U.S. industrial growth, fuel long-term inflation, and make Bitcoin one of the most valuable forms of collateral in the world.

We also discuss the run in the price of gold, what it could signal geopolitically, and why Bitcoin?s volatility compression might mean the end of traditional market cycles.

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Leopoldo López is a Venezuelan opposition leader, former political prisoner, and founder of the World Liberty Congress, a global alliance of democracy defenders and freedom fighters.

In this episode, Leopoldo tells the story of how he went from mayor of Caracas to being hunted, imprisoned, and sentenced for ?sending subliminal messages? through his speeches. He reveals what four years in solitary confinement does to the human mind, how he led a prison uprising from inside his cell, and the insane escape that finally got him out of Venezuela.

Now living in exile, Leopoldo explains how he?s using Bitcoin to fight back. Funding resistance movements, paying doctors and activists when banks are weaponised by dictators, and building a new freedom network through the World Liberty Congress.

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Leopoldo Lopez: https://x.com/leopoldolopez or https://primal.net/leo

Andrew Hohns is founder and CEO of Battery Finance and CEO of Newmarket Capital. In this episode, we get into how Bitcoin-backed credit can rebuild trust in the global financial system ? and why integrating Bitcoin into institutional finance could change everything from mortgages to sovereign debt.

We explore why Bitcoin is the ideal form of collateral and how it can transform credit markets distorted by inflation and fiat mismanagement. We also get into Andrew's idea for BitBonds, and how a Bitcoin-infused U.S. Treasury bonds could revolutionise sovereign debt issuance.

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Matt Odell is host of Citadel Dispatch, co-host of Rabbit Hole Recap, managing partner at Ten31 and co-founder of OpenSats & Bitcoin Park. In this episode, we dive into the rise of surveillance capitalism, why freedom tech is the only path forward, and what a truly sovereign digital society could look like.

We explore how Nostr and Bitcoin together create an open foundation for speech, identity, and money. A new digital commons built on permissionless code, not corporate control.

Odell also gives his take on the wave of Bitcoin treasury companies and why some have drifted from Bitcoin?s core ethics, and why real, profitable businesses saving in Bitcoin will thrive.

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Luke Gromen is the founder of Forest for the Trees. In this episode, we discuss why the U.S. debt cycle is reaching a breaking point, how AI and geopolitics are accelerating structural change, and why we could be witnessing the endgame of the fiat era.

We get into why stablecoins may represent the next phase of the petrodollar system, the rise of financial repression, the return of inflation as a political tool, and why gold and Bitcoin are the only real safe havens this decade.

He also lays out how AI threatens the debt-based monetary system itself, why autonomous labor could cause mass unemployment, and why meaning, not money, might become society?s scarcest resource.

In this episode:

- Why the Fed has to cut rates and inflate away debt

- The new ?petrodollar? built on stablecoins

- The coming wave of financial repression

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Luke Gromen: https://x.com/LukeGromen

Checkmate is a Bitcoin analyst known for his on-chain & macro research. In this episode, we get into the weekend?s deleveraging event across the markets, the structural fragility it exposed, and why Bitcoin?s resilience through it all might mark a new era of maturity for the asset.

Checkmate breaks down what caused over $20 billion in liquidations, how cascading leverage turned minor sell-offs into total wipeouts, and why market makers simply ?walked away.? He also explains why Bitcoin?s fundamentals, ETF inflows, spot demand, and deep capital pools make it better positioned than ever despite short-term volatility.

We discuss how Bitcoin is becoming the world?s 24/7 macro signal, why "crypto" may be entering terminal decline, and what the data says about sentiment, and the critical price levels that will determine whether this was just a reset, or the start of a broader bear market.

In this episode:

- The $20 billion liquidation and what triggered it

- How leverage cascades break the market

- Bitcoin?s structural strength

- Why Bitcoin is the world?s macro thermometer

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Dr. Roman Yampolskiy is a computer scientist and AI safety researcher whose work explores the existential risks of artificial intelligence and the limits of human control. In this episode, we dive deep into whether superintelligence can be contained, why AI may already be on an unstoppable trajectory, and what that means for humanity?s future.

Roman explains the difference between narrow AI, AGI, and superintelligence, and why building systems smarter than us may be a form of mutually assured destruction. We cover the ethics of open-source models, whether AI could ever be conscious, and how Bitcoin fits into a world dominated by intelligent machines.

In this episode:

- Why superintelligence may be impossible to control

- The existential risk of AI

- Whether consciousness can exist in machines

- How AI will replace all human labor

- Why AI might eventually use Bitcoin as its native money

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Antoine Poinsot is a Bitcoin Core contributor and researcher at Chaincode Labs. In this episode, we dive deep into the growing divide between Bitcoin Core and Knots, why mistrust in Core development has reached new levels, and what the v30 policy changes really mean for the future of Bitcoin.

Antoine explains the history behind the OP_RETURN controversy, how ?spam? and arbitrary data affect the UTXO set, and why multiple implementations like Knots may be both a strength and a serious risk to the network. We also cover Core?s security-disclosure process, how decisions are actually made inside the project, and whether Bitcoin should ossify or continue to evolve.

In this episode:

- The Core vs Knots debate

- Spam, inscriptions, and the limits of filtering policy

- UTXO bloat, miner incentives, and decentralisation risks

- Why unreviewed Knots code could become a systemic threat

- How Core handles policy vs consensus changes

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Peter Dunworth is the Director of a multi-family office and is the co-founder of The Bitcoin Adviser. In this episode, we dive into why Bitcoin is the ultimate vehicle for generational wealth, how to actually protect it across jurisdictions, and why collateral, not debt, is the real story of global finance.

We get into why Bitcoin could underpin the collateral markets, how hyperbitcoinisation might play out both personally and globally, and why coexistence with fiat may last much longer than many expect. Peter explains how capital protected Bitcoin bonds could revolutionise sovereign debt, why the financialization of Bitcoin by Wall Street may actually be a net positive.

In this episode:

- Why 1 BTC could soon be generational wealth

- The challenges of preserving wealth

- Bitcoin as the foundation of collateral markets

- The case for Bitcoin bonds

- How Wall Street will financialize Bitcoin

- Coexistence of Bitcoin and fiat

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Checkmate is an on-chain analyst and founder of Checkonchain, Joe Carlasare is a Commercial Litigator and macro commentator & Matthew Pines is the Executive Director at the Bitcoin Policy Institute.

They explain why the four-year cycle may finally be dead, how ETFs and institutional flows are reshaping Bitcoin?s volatility, and why 95K has become a critical ?Hodler?s Wall.? We get into gold?s resurgence and how central bank accumulation signals a structural shift in global finance, and how fiscal dominance is eroding the Fed?s independence. The roundtable also dives into the politics of debt, the prospect of yield curve control, and the AI-driven capex boom that could both fuel growth and deepen inequality.

In this episode:

- The end of the four-year cycle

- ETFs, flows, and the new volatility profile of Bitcoin

- The Federal Reserve & fiscal dominance

- AI & the future of productivity

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Joe Carlasare: https://x.com/JoeCarlasare

Matthew Pines: https://x.com/matthew_pines

Samson Mow is the CEO of JAN3 and former CSO at Blockstream. In this episode, we get into the growing rift between Bitcoin Core and Knots, why mistrust in Core development is at an all-time high, and what it means for the future of the network.

We discuss the battle over spam and data storage on-chain, whether Bitcoin should ossify or adapt, and how governance really works in Bitcoin. Samson breaks down why the UTXO set could become a systemic risk, how mempool fragmentation is reshaping the network, and why multiple implementations of Bitcoin may be both a blessing and a curse.

In this episode:

- The origins of the Core vs. Knots debate

- Spam, filters, and the slippery slope of arbitrary data on Bitcoin

- UTXO bloat, miner incentives, and decentralization risks

- How nation-state adoption may trigger the suddenly moment for Bitcoin

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Brandon Quittem is a the Author of The Mycelium of Money and VP at Swan. In this episode, we discuss the fourth turning, how history?s generational cycles shape today?s political chaos, and why Bitcoin could be the institution that emerges from the wreckage of a failing system.

We explore the death of monoculture, the erosion of trust in institutions, and whether the coming crisis ends in war, civil unrest, or a re-founding of the American republic. Brandon also breaks down how generational archetypes repeat across history, why social cohesion feels impossible in the algorithmic age, and how Bitcoiners can help reshape the world.

In this episode:

- The Fourth Turning framework and why 2008 was the catalyst

- Loss of faith in institutions and the rise of political nihilism

- Monoculture, social fragmentation, and the crisis of identity

- Why every Fourth Turning ends in war

- How Bitcoin could serve as the foundation for the next era

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Brandon Quittem: https://x.com/bquittem

Lawrence Lepard is an Investment Manager and Author of The Big Print. In this episode, he explains why the dollar system is ?doomed,? how inflation is as much psychological as monetary, and why the Fed and Treasury are now trapped in a cycle of money printing and yield curve control. We explore why America may already be in a ?fourth turning,? how gold?s surge signals a repricing of trust, and why Bitcoin is the ultimate escape hatch in a world of policy failure and political decay.

Lepard also explains how U.S. intelligence agencies are using it to study hyperinflation as an existential risk, and why he?s convinced Bitcoin will hit $1 million.

In this episode:

- The Fed and the trap of yield curve control

- The risk of inflation

- Gold?s surge, Bitcoin?s inevitability, and the repricing of trust

- Why America may be entering a ?fourth turning?

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The Fed's Third Mandate (TFTC Article): https://www.tftc.io/the-feds-third-mandate-the-looming-credit-crisis-and-bitcoin/

Pete Rizzo breaks down how Bitcoin?s culture and institutions are being reshaped in 2025. From Trump?s executive orders and the creation of a strategic Bitcoin reserve to the rise of treasury companies and institutional adoption, we explore why this cycle feels different ? and why that may not be entirely bullish for freedom money.

We get into the shifting monocultures of Bitcoin, from grassroots self-custody to Saylor's vision. Rizzo explains why treasury companies must prove they can outperform Bitcoin itself and the risks if hundreds of them collapse in the next bear market.

In this episode:

- How institutions are changing Bitcoin adoption

- Trump, strategic reserves & Bitcoin policy

- The cultural shift in Bitcoin

- Why treasury companies may struggle to survive

- The next phase of Bitcoin culture

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Freddie New unpacks why the next wave of Bitcoin treasury companies could change the game, and why his new venture, B Hodl, is designed to be more than just another balance sheet play. From Lightning Network infrastructure and UK policy battles to raising fresh capital without leverage, Freddie explains how Bitcoin-only businesses can scale sustainably while strengthening the network itself.

We dig into why so many treasury companies risk collapse in a bear market, how B Hodl is structured to avoid forced selling, and why the UK urgently needs a strong Bitcoin voice in both finance and politics. Freddie also explores why institutions will eventually be forced to hold Bitcoin, how mNAV multiples shape valuations, and why every treasury company needs to prove it?s building real infrastructure, not just stacking sats.

In this episode:

- Why B Hodl is more than a Bitcoin treasury company

- How Lightning node operations create real Bitcoin-denominated revenue

- Why avoiding leverage is key to long-term survival

- Why every company will one day hold Bitcoin on their balance sheet

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James Lavish unpacks why the Federal Reserve, runaway debt, and global liquidity cycles are setting the stage for Bitcoin?s next explosive move. From stagflation and deficits to institutional rebalancing and treasury companies, James explains why Bitcoin is unlike any asset the Fed can control.

We dig into why policymakers are trapped between inflation and recession, how trillions in debt force them to keep the Ponzi going, and why every rate cut is bullish for Bitcoin. James also explores the role of Black Swan events, how institutions dampen volatility while driving adoption, and why neutral, permissionless money is the only escape from today?s broken system.

In this episode:

- Are we heading for stagflation?

- How $324T in global debt guarantees more money printing

- The rise of treasury companies and institutional rebalancing

- Why global liquidity is the key signal for Bitcoin?s price

- What a Fed cornered by inflation means for the future of money

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Eric Yakes lays out why Bitcoin is on track for $10 million, and how cultural shifts, institutional adoption, and political realities are accelerating the path. From revolutions and mass movements to balance sheets and BlackRock ETFs, Eric explains why Bitcoin is unlike any other asset in financial history.

We get into why qualitative forces - belief, culture, and narrative - drive Bitcoin?s price as much as math, how the rise of treasury companies and governments adopting Bitcoin could fundamentally change markets, and why neutral, permissionless money is the escape valve from today?s credit-driven system. Eric also explores what a $10M Bitcoin world might look like: from time preference shifts and new architecture to political legitimacy and global strategic reserves.

In this episode:

- Why Eric believes Bitcoin can reach $10M within a decade

- How revolutions explain Bitcoin?s cultural momentum

- The role of ETFs, treasury companies, and government reserves

- Why narratives, not fundamentals, move markets

- How neutral money could restructure capitalism and society

- What a $10M Bitcoin world means for time preference, politics, and the future

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John Scott-Railton dives into the dark world of spyware, surveillance, and state power ? and what it means for our freedoms in the digital age. From uncovering Pegasus spyware in 2016 to exposing private intelligence firms like Black Cube, John explains how governments, corporations, and authoritarian regimes exploit our phones and data to control narratives and suppress dissent.

We discuss how spyware has evolved from phishing texts to zero-click exploits, the chilling stories of journalists and dissidents targeted, and why even democracies are sliding into mass surveillance under the guise of ?safety.? John also warns about the next frontier: AI supercharging surveillance, corporate data brokers selling your life by the byte, and if Bitcoin faces the same creeping panopticon risks if incentives aren?t carefully guarded.

In this episode:

- The rise of mercenary spyware like Pegasus

- How the state abuses surveillance tech

- The role of corporate surveillance and data brokers

- AI?s potential to supercharge surveillance

- If Bitcoin could face the same panopticon dynamics

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Vijay Selvam digs into the first principles of Bitcoin, why it matters, how it works, and what makes it the greatest tool against authoritarian states. From his background on Wall Street during the 2008 financial crisis to writing Principles of Bitcoin, Vijay explains why digital scarcity is a paradigm-shifting invention and why separating money from the state may be one of the most important moments in human history.

We explore why narratives like ?digital gold? are both useful and limiting, how Bitcoin embodies Enlightenment values of decentralization, and why its real political and philosophical implications go far beyond finance. Vijay also shares why the greatest threats to Bitcoin come from within, and how Bitcoin serves as both a mirror and a peaceful revolution for humanity.

In this episode:

- The 2008 financial crisis and discovering Bitcoin

- Digital scarcity and the core innovation of Bitcoin

- Separation of money and state vs. church and state

- Narratives: digital gold, freedom money, and beyond

- Bitcoin?s political and philosophical ramifications

- Why Bitcoin is a mirror that forces self-reflection

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Rod Roudi gets into the convergence of Bitcoin, AI, energy, and freedom tech ? and why grassroots adoption matters just as much as corporate treasury plays. From the rise of Bitcoin meetups and physical hubs like Bitcoin Park to the explosive growth of mining innovation, Rod makes the case that open-source tools and community-driven education are the foundations of Bitcoin?s future.

We discuss how Bitcoin Park solo-mined a block against one-in-a-thousand odds, and why home-grown projects like BitAxe and miner-powered heating systems are reshaping the mining landscape. Rod also shares how he uses AI in his own workflows, what the future of education might look like for his kids, and why entrepreneurial grit will matter more than credentials in the age of automation.

In this episode:

- The rise of grassroots Bitcoin communities and meetups

- Solo-mining a block live

- Mining decentralisation

- The convergence of Bitcoin, AI, and energy

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Bitcoin Park: https://bitcoinpark.com/

American HODL & Steven Lubka get into the rise of Bitcoin treasury companies, unpacking how securitisation, jurisdictional arbitrage, and corporate leverage are shaping the next phase of Bitcoin?s financialisation. We discuss whether this new wave of Bitcoin-wrapped equities is a healthy Bitcoin on-ramp or just a speculative bubble, and what happens to these companies in a bear market.

Steven breaks down Nakamoto?s strategy, from running higher leverage to building a global network of local vehicles and using M&A to accumulate Bitcoin at scale. We get into the ?Paper Bitcoin Summer? thesis, the morality of treasury cos, if they are just another form of shitcoining, or a necessary step to embed Bitcoin into public markets and give millions passive exposure?

In this episode:

- The playbook for Bitcoin treasury companies

- Why size, leverage, and jurisdiction matter for survival

- MNAVs, premiums, and the risk in a bear market

- The morality of treasury companies

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Willy Woo gets into Bitcoin?s evolving market structure, breaking down how institutional flows, ETFs, and treasury companies are reshaping the bull market. He explains why Bitcoin has never faced a true business cycle downturn, why 2026 could be the first real test, and how liquidity waves set the rhythm for both blow-off tops and brutal bear markets.

He unpacks the mechanics of Strategy's debt model versus MetaPlanet?s synthetic leverage, how ETFs are smoothing inflows and dampening volatility, and why premiums to NAV create both opportunity and risk. Willy also zooms out to the thousand-year arc of money, showing why fiat is a short-lived social consensus ledger and Bitcoin is destined to be the next energy-secured system of value.

In this episode:

- How ETFs are changing Bitcoin?s price dynamics

- Premiums to NAV, synthetic leverage, and liquidation risk

- Why treasury companies could amplify the next bear market

- Liquidity cycles and business downturns

- ESG, BlackRock, and the shift in institutional adoption

- The transition from gold and fiat to Bitcoin

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Preston Pysh gives us a masterclass on Bitcoin treasury companies, unpacking the mechanics behind Michael Saylor?s strategy and why it has outperformed Bitcoin since 2020.

He explains how preferred stock and convertible debt are being engineered to funnel Bitcoin onto balance sheets, why the unraveling of the fixed-income market is the hidden fuel behind this model, and the risks investors face in treating treasury companies as a proxy for holding Bitcoin.

Preston gets into the accounting controversies around MicroStrategy, the looming threat of government nationalisation, and why self-custody Bitcoin is the ultimate safeguard.

In this episode:

- Why self-custody Bitcoin is important

- How preferred stock and convertible debt power treasury growth

- The collapse of the 40-year fixed-income bull market

- Understanding premiums to NAV and dilution risks

- ?Ponzi-adjacent? Bitcoin treasuries

- Nationalisation and centralisation risks for Bitcoin

- Why the STRC issuance may be one of the most brilliant financial products ever designed

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Danny Knowles: https://x.com/\\\_DannyKnowles or https://primal.net/danny

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In this episode, Peter breaks down his five-year legal battle with Craig Wright, how UK libel laws were weaponised against him, and the moment the case finally turned in his favour.

We also get into his fight to save Bedford, and why running businesses there changed his political view, how government policy makes entrepreneurship harder, and turning to private solutions because of the failure of the state.

In this episode:

- Craig Wright?s lawsuits and the UK libel system

- The real impact of government policy

- The mission to save Bedford

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Calle gets into into the future of financial and communication privacy, exploring how tools like Cashu and BitChat could help Bitcoiners survive in an increasingly hostile regulatory environment.

He breaks down why privacy is essential for democracy, the lessons from the original Crypto Wars, and how eCash can offer near-perfect transaction privacy.

Calle explains the history behind David Chaum?s invention, the trade-offs Bitcoin made for auditability, and why eCash mints could be run by communities for both Lightning payments and private internet services. As well as BitChat as a censorship-resistant messenger and the growing legal risks faced by privacy developers.

In this episode:

- Why financial privacy is as important as free speech

- Lessons from the Crypto Wars 1.0

- How Chaumian eCash works and why it?s unmatched for privacy

- Offline payments and tap-to-pay Bitcoin

- The risks and pressures facing privacy developers today

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Lyn Alden and Andy Constan go deep on Bitcoin treasury companies like Strategy, debating whether they?re outright Ponzi schemes or legitimate vehicles for leveraged Bitcoin exposure.

We dig into how these companies actually generate returns, why premiums to NAV exist, and the conditions that could cause the model to unravel. Lyn lays out her cautiously bullish case for well-run treasuries, while Andy argues the structure depends on new capital in ways that can?t last forever.

In this episode:

- What makes a Bitcoin treasury company different from an ETF

- Why premiums to NAV exist

- How Strategy?s capital structure works

- Whether treasury companies can generate income without selling Bitcoin

- The ?Ponzi-adjacent? problem

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Andy Constan: https://x.com/dampedspring

Troy Cross and Ella Hough break down the state of Bitcoin adoption across the U.S. and the globe, revealing what the data really says about Bitcoin?s political alignment, institutional shift, and cultural future.

We get into the surprising statistics around self-custody, what Gen Z actually thinks about Bitcoin, and whether American bitcoiners can become a meaningful political force.

In this episode:

- Who owns Bitcoin - What Gen-Z think of Bitcoin

- The myth of political consensus around Bitcoin

- Bitcoin as a language of truth across culture, time, and power

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Ella Hough: https://x.com/21MMforthe21st

Checkmate breaks down Bitcoin's market structure, why treasury companies are flooding in, and whether the four-year cycle has finally broken.

We get into how institutional money is reshaping on-chain dynamics, why long-term holders are behaving differently this cycle, and what the recent 80,000 BTC move signals about dormant supply.

Checkmate also explains the risks and opportunities of corporate treasury plays, premium-to-NAV dynamics, and how the rest of this bull market could play out.

In this episode:

- Treasury company dynamics

- Why Bitcoin?s drawdowns are structurally different this cycle

- The rise of institutional-sized transactions and empty mempools

- What the 80,000 BTC sale tells us about long-dormant coins

- The quantum debate

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Dylan LeClair breaks down the rise of Bitcoin treasury companies, why corporate adoption may be hitting a ?gradually then suddenly? inflection point, and whether Michael Saylor?s lead is now insurmountable.

We get into how Metaplanet scaled from a few hundred Bitcoin to 16,000+, what?s driving premiums over NAV, and why public capital markets are becoming the biggest buyers of Bitcoin.

Dylan also explains Saylor?s latest innovation, ?Stretch", and explains why this could transform corporate balance sheets and fixed income markets.

In this episode:

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Nik Bhatia breaks down why Bitcoin may have broken free of its four-year cycle and what that means for the next decade.

We discuss Bitcoin's market maturity, compressed volatility, and how new corporate demand are reshaping price dynamics ? and why this could mean an end to drawn out bear markets and blow-off tops.

We get into how macro forces like liquidity, rate policy, and U.S. fiscal dominance intersect with Bitcoin, whether Powell vs. Trump really matters, and why Bitcoin could hit $1 million by 2032.

In this episode:

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Jeff Booth explains why free markets are naturally deflationary and why this changes everything.

What if the entire economy is built on a lie? Jeff Booth argues our credit-based system fights the natural deflation of free markets through endless money manipulation ? and why Bitcoin creates the first truly global free market.

We explore how AI accelerates abundance, why most people are stuck in ?Fiatland,? and how Bitcoin adoption will transform everything from housing to global power structures.

In this episode:

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Thomas Pacchia is the co-founder of Pubkey.

In this episode, we get into the evolving culture of Bitcoin, why number-go-up narratives overshadow deeper principles like privacy, self-sovereignty, and freedom. Thomas explains why he believes Bitcoin risks becoming disconnected from its original ethos, and the importance of maintaining a robust, culturally-driven Bitcoin community.

We also discuss the increasing role of institutions, treasuries, and ETFs in Bitcoin, how regulatory frameworks like the Patriot Act and Bank Secrecy Act challenge financial privacy, and why these battles are crucial for Bitcoin's future.

We also discuss Pubkey and it's expansion into DC and Bitcoin culture, and adoption on a global scale.

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Mauricio Di Bartolomeo is the co-founder of Ledn, the largest consumer Bitcoin lender.

In this episode, we discuss how Ledn survived the collapse of BlockFi and Celsius, why they?ve removed all rehypothecation and Ethereum products, and why Bitcoin-backed loans are set to reshape global credit markets.

Mauricio explains how banks entering the space could drive rates lower and why Ledn is focused solely on Bitcoin. Mauricio also shares his personal story of growing up in Venezuela under hyperinflation, discovering Bitcoin, and building Ledn to give people everywhere access to the same financial tools.

Root is a Bitcoin on-chain analyst and the author of the "Bitcoin Strategy Platform" Substack.

In this episode, we discuss the current state of Bitcoin?s bull market, why Root believes there?s no basis for a prolonged bear market, and how institutional demand is changing Bitcoin?s price dynamics. We cover Bitcoin?s structural adoption through ETFs, treasury companies, and sovereign buyers, and why these may limited downside volatility.

We also get into the psychological stages of the market, why 100k could now serve as Bitcoin?s new baseline, and how macro factors like interest rate cuts and Trump?s policies might influence the next leg up.

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Root is a Bitcoin on-chain analyst and the author of the "Bitcoin Strategy Platform" Substack.

In this episode, we discuss the current state of Bitcoin?s bull market, why Root believes there?s no basis for a prolonged bear market, and how institutional demand is changing Bitcoin?s price dynamics. We cover Bitcoin?s structural adoption through ETFs, treasury companies, and sovereign buyers, and why these may limited downside volatility.

We also get into the psychological stages of the market, why 100k could now serve as Bitcoin?s new baseline, and how macro factors like interest rate cuts and Trump?s policies might influence the next leg up.

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Mitchell Askew is Head of Research at Blockware and author of The Conservative Case for Bitcoin.

In this episode, we discuss the growing role of Bitcoin treasury companies, how miners are evolving into treasury plays, and why Blockware is betting on mining as a tool for institutional Bitcoin accumulation. We get into companies choosing ASICs over spot Bitcoin, how tax incentives and cash flow denominated in Bitcoin are changing the landscape, and the emergence of global copycats of MicroStrategy.

We also get into the dynamics of hash rate, Bitcoin price, and the impact of ETFs on volatility. Finally, we cover the generational gap in Bitcoin adoption, why Gen Z isn?t saving, and why Mitchell believes the four-year Bitcoin cycle is dead - and that Bitcoin will now ?stair-step? its way to $1 million.

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CJ Konstantinos is the Founder of People?s Reserve.

In this episode, we discuss Bitcoin?s rise as digital gold, its role in revolutionising real estate and finance, and why it?s poised to become the ultimate pristine collateral. We get into the maturation of the Bitcoin bull market and the potential for Bitcoin bonds to recapitalise economies. CJ also discusses the importance of free market money, the risks of financialisation, and how Bitcoiners can vote with their money to drive a peaceful financial revolution.

We also cover the implications of using Bitcoin as collateral for mortgages, the dangers of liquidation risk, and why MicroStrategy could become a central bank of the digital economy.

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Follow: Danny Knowles: https://x.com/_DannyKnowles or https://primal.net/danny CJ Konstantinos: https://x.com/CJKonstantinos