What Bitcoin Did

“The market is trying to find a villain right now—and Saylor is that guy.”

Adam Livingston explains the pressure building around Michael Saylor, MicroStrategy and STRC as the preferred stock trades at $88, well below its $100 par value.

Is STRC broken, or is the market mispricing Strategy’s credit risk? Adam explains how STRC works, why its yield has climbed above 13%, whether it can recover to par, and what Strategy’s capital structure means for MSTR shareholders. We also get into dilution, dividend coverage, Strategy’s use of its cash reserve and whether Saylor is now forced to keep accelerating his Bitcoin strategy.

We also get into the Bitcoin bear market, the possibility of a market bottom and why Adam believes the current environment is presenting a major buying opportunity.

In this episode:

Why STRC is trading below par

Whether Michael Saylor is trapped

The risks facing MSTR shareholders

Bitcoin treasury companies and “digital credit”

Bitcoin’s potential market bottom

The Fed, inflation and monetary repression

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Adam Livingston: https://x.com/AdamBLiv

“The whole goddamn thing is a charade… finger in the air, wild-ass guess, total gaslighting and bullshit.”

In this episode, Lawrence Lepard is back on the show to explain why the Fed is trapped between persistent inflation, an accelerating sovereign debt crisis and a financial system that cannot withstand genuinely tight monetary policy.

Lawrence breaks down the Fed’s retreat from forward guidance, why its new playbook gives policymakers cover to change course without warning, and why he believes today’s hawkish stance will ultimately give way to rate cuts and more money creation.

We also explore his “decade of inflation” thesis. He argues that the cycle began in 2020, that double-digit inflation is still ahead, and that a major disruption in the Treasury or bond market could trigger a “break-glass” response from the Fed, sending Bitcoin, gold and other hard assets dramatically higher.

In this episode:

• Why the Federal Reserve is abandoning forward guidance

• How the Fed could redefine inflation

• The sovereign debt problem

• Why double-digit inflation is coming

• Lawrence's outlook for Bitcoin and gold

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Lawrence Lepard: https://x.com/LawrenceLepard

“The real battle is not communism versus capitalism. It’s not the radical left versus the far right… They’re all a different flavour of the same agenda.”

Simon Dixon is an entrepreneur & investor. In this episode we get into the decline of American hegemony, the rise of a multipolar world, the petrodollar, China, BRICS, Iran, Venezuela, energy, AI, surveillance and the institutions that operate above elected governments. He explains why he sees war, debt and political polarisation as mechanisms that move capital, concentrate wealth and reshape the global order.

We also discuss where Bitcoin fits into all of this, why Wall Street wants it held in custody, and how leverage is used to separate people from their Bitcoin.

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“The dollar endgame is still in play, but it’s going to play out much differently than most people think.”

Peruvian Bull, is a macro analyst and the author of Dollar Endgame.

In this interview, we discuss why the collapse of the dollar is unlikely to play out the way most people expect, why the dollar remains so dominant despite America’s worsening debt problem, and why Japan may be the clearest warning signal for what comes next.

We get into the eurodollar system, stablecoins, treasury demand, the yen carry trade, QE, yield curve control, zombie companies, and the ways central banks continue to create new tools to kick the can down the road.

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I still believe we've got 100X in front of us in the next 10 years… Bitcoin becomes undeniable."

Peter Dunworth is the co-founder of The Bitcoin Adviser.

Bitcoin is at $62,500, down 50% from the all-time high, and sentiment is the worst it has ever been. So why is the most bullish man in Bitcoin calling this the best buying opportunity in history?

We discuss why the bottom is closer than you think, why the next cycle breaks every model, the wall of AI money waiting to rotate into Bitcoin, how the Clarity Act turns the US dollar into a global stablecoin empire, the coming death of all fiat currencies and the 30% property crash heading for Australia.

In this episode:

Why this is the best buying opportunity in Bitcoin's history

The case for 100X in the next 10 years

Why the AI trade will rotate into Bitcoin

The Clarity Act: a global dollar takeover

Saylor, Strategy and the S&P500 double standard

Why property is "near uninvestable"

THANKS TO OUR SPONSORS:

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

Peter Dunworth: https://x.com/PeterBTCAdviser