#664: MicroStrategy's Perpetual Preferred Strategy Explained with Jeff Walton

Marty sits down with Vince Lanci to discuss China's strategic gold accumulation through Shanghai warrants, the global dedollarization movement, how gold is being positioned as high-quality liquid collateral to compete with US Treasuries, Bitcoin price suppression through ETF derivatives, and the parallels between gold and Bitcoin market manipulation. Vince on Twitter: https://x.com/Sorenthek Vince’s Substack: https://vblgoldfix.substack.com/ STACK SATS hat: https://tftcmerch.io/ Our newsletter: https://www.tftc.io/bitcoin-brief/ TFTC Elite (Ad-free & Discord): https://www.tftc.io/#/portal/signup/ Discord: https://discord.gg/VJ2dABShBz Opportunity Cost Extension: https://www.opportunitycost.app/ Shoutout to our sponsors: Bitkey https://bit.ly/TFTCBitkey20 Unchained https://unchained.com/tftc/ Obscura https://obscura.net/ SLNT https://slnt.com/tftc CrowdHealth https://www.joincrowdhealth.com/tftc Join the TFTC Movement: Main YT Channel https://www.youtube.com/c/TFTC21/videos Clips YT Channel https://www.youtube.com/channel/UCUQcW3jxfQfEUS8kqR5pJtQ Website https://tftc.io/ Newsletter tftc.io/bitcoin-brief/ Twitter https://twitter.com/tftc21 Instagram https://www.instagram.com/tftc.io/ Nostr https://primal.net/tftc Follow Marty Bent: Twitter https://twitter.com/martybent Nostr https://primal.net/martybent Newsletter https://tftc.io/martys-bent/ Podcast https://www.tftc.io/tag/podcasts/

Marty sits down with Svetski to discuss AI as a productivity tool rather than AGI, the unsustainable economics of large language models, Nostr's evolution beyond social media toward portable identity and new market opportunities, SatLantis's pivot to become a Bitcoin-native events platform, solving the cold start problem, digital burnout and the shift toward meatspace connection, and why building second-generation Bitcoin companies means creating new markets rather than replicating existing ones. Svetski's links:Website: Satlantis.io iOS App: https://apps.apple.com/us/app/satlantis/id6648819135 Android App: https://play.google.com/store/apps/details?id=com.satlantis.satlantis Nostr: https://Satlantis.io/satlantis X: http://x.com/joinsatlantis IG: http://instagram.com/joinsatlantis STACK SATS hat: https://tftcmerch.io/ Our newsletter: https://www.tftc.io/bitcoin-brief/ TFTC Elite (Ad-free & Discord): https://www.tftc.io/#/portal/signup/ Discord: https://discord.gg/VJ2dABShBz Opportunity Cost Extension: https://www.opportunitycost.app/ Shoutout to our sponsors: Bitkey https://bit.ly/TFTCBitkey20 Unchained https://unchained.com/tftc/ Obscura https://obscura.net/ SLNT https://slnt.com/tftc CrowdHealth https://www.joincrowdhealth.com/tftc Join the TFTC Movement: Main YT Channel https://www.youtube.com/c/TFTC21/videos Clips YT Channel https://www.youtube.com/channel/UCUQcW3jxfQfEUS8kqR5pJtQ Website https://tftc.io/ Newsletter tftc.io/bitcoin-brief/ Twitter https://twitter.com/tftc21 Instagram https://www.instagram.com/tftc.io/ Nostr https://primal.net/tftc Follow Marty Bent: Twitter https://twitter.com/martybent Nostr https://primal.net/martybent Newsletter https://tftc.io/martys-bent/ Podcast https://www.tftc.io/tag/podcasts/

Marty sits down with James Check to discuss Bitcoin's structural market transformation, the debasement trade gaining mainstream recognition, treasury company dynamics, institutional adoption patterns, and why this cycle's compressed volatility and sophisticated bid-side support signal a fundamentally different monetization phase.

Marty sits down with Maryland HODL to discuss systemic vibrations signaling monetary transition, how bitbonds and stablecoins could facilitate a shift from an inflationary to deflationary system, the strategic realignment happening within the Treasury and Fed, and why Bitcoin's role as pristine collateral represents the only viable path to navigate the fourth turning without catastrophic conflict. Maryland Hodl on Twitter: https://x.com/hodlmaryland Maryland Hodl on Substack: https://marylandhodl.substack.com/ STACK SATS hat: https://tftcmerch.io/ Our newsletter: https://www.tftc.io/bitcoin-brief/ TFTC Elite (Ad-free & Discord): https://www.tftc.io/#/portal/signup/ Discord: https://discord.gg/VJ2dABShBz Opportunity Cost Extension: https://www.opportunitycost.app/ Shoutout to our sponsors: Bitkey https://bit.ly/TFTCBitkey20 Unchained https://unchained.com/tftc/ Obscura https://obscura.net/ SLNT https://slnt.com/tftc Join the TFTC Movement: Main YT Channel https://www.youtube.com/c/TFTC21/videos Clips YT Channel https://www.youtube.com/channel/UCUQcW3jxfQfEUS8kqR5pJtQ Website https://tftc.io/ Newsletter tftc.io/bitcoin-brief/ Twitter https://twitter.com/tftc21 Instagram https://www.instagram.com/tftc.io/ Nostr https://primal.net/tftc Follow Marty Bent: Twitter https://twitter.com/martybent Nostr https://primal.net/martybent Newsletter https://tftc.io/martys-bent/ Podcast https://www.tftc.io/tag/podcasts/

Marty sits down with Luke Thomas, founder of Formable and former product manager at Zapier, to discuss how AI is creating "unbounded leverage" for startups, why existing businesses struggle to adapt due to structural constraints, and how Bitcoin treasuries can rewire founders' thinking about capital allocation in the digital transformation era. Formable: https://formable.ai/ STACK SATS hat: https://tftcmerch.io/ Our newsletter: https://www.tftc.io/bitcoin-brief/ TFTC Elite (Ad-free & Discord): https://www.tftc.io/#/portal/signup/ Discord: https://discord.gg/VJ2dABShBz Opportunity Cost Extension: https://www.opportunitycost.app/ Shoutout to our sponsors: Bitkey https://bit.ly/TFTCBitkey20 Unchained https://unchained.com/tftc/ Obscura https://obscura.net/ SLNT https://slnt.com/tftc Join the TFTC Movement: Main YT Channel https://www.youtube.com/c/TFTC21/videos Clips YT Channel https://www.youtube.com/channel/UCUQcW3jxfQfEUS8kqR5pJtQ Website https://tftc.io/ Newsletter tftc.io/bitcoin-brief/ Twitter https://twitter.com/tftc21 Instagram https://www.instagram.com/tftc.io/ Nostr https://primal.net/tftc Follow Marty Bent: Twitter https://twitter.com/martybent Nostr https://primal.net/martybent Newsletter https://tftc.io/martys-bent/ Podcast https://www.tftc.io/tag/podcasts/

Marty sits down with Whitney Webb and Mark Goodwin to discuss the expansion of surveillance infrastructure under the Trump administration, the weaponization of domestic terrorism rhetoric following recent political violence, and how digital ID systems and financial control mechanisms are being implemented globally to restrict individual freedoms. Whitney Webb on Twitter: https://x.com/_whitneywebb Mark Goodwin on Twitter: https://x.com/markgoodw_in Unlimited Hangout: https://unlimitedhangout.com/ STACK SATS hat: https://tftcmerch.io/ Our newsletter: https://www.tftc.io/bitcoin-brief/ TFTC Elite (Ad-free & Discord): https://www.tftc.io/#/portal/signup/ Discord: https://discord.gg/VJ2dABShBz Opportunity Cost Extension: https://www.opportunitycost.app/ Shoutout to our sponsors: Bitkey https://bit.ly/TFTCBitkey20 Unchained https://unchained.com/tftc/ Obscura https://obscura.net/ SLNT https://slnt.com/tftc Join the TFTC Movement: Main YT Channel https://www.youtube.com/c/TFTC21/videos Clips YT Channel https://www.youtube.com/channel/UCUQcW3jxfQfEUS8kqR5pJtQ Website https://tftc.io/ Newsletter tftc.io/bitcoin-brief/ Twitter https://twitter.com/tftc21 Instagram https://www.instagram.com/tftc.io/ Nostr https://primal.net/tftc Follow Marty Bent: Twitter https://twitter.com/martybent Nostr https://primal.net/martybent Newsletter https://tftc.io/martys-bent/ Podcast https://www.tftc.io/tag/podcasts/

Marty sits down with Jeff Walton to discuss his transition from reinsurance to Bitcoin treasury strategies at Strive, their cashless acquisition of Semler Scientific, and how companies are revolutionizing corporate finance by building Bitcoin war chests through innovative capital market structures. Jeff on Twitter: https://x.com/PunterJeff Strive: https://strive.com/ STACK SATS hat: https://tftcmerch.io/ Our newsletter: https://www.tftc.io/bitcoin-brief/ TFTC Elite (Ad-free & Discord): https://www.tftc.io/#/portal/signup/ Discord: https://discord.gg/VJ2dABShBz Opportunity Cost Extension: https://www.opportunitycost.app/ Shoutout to our sponsors: Bitkey https://bit.ly/TFTCBitkey20 Unchained https://unchained.com/tftc/ Obscura https://obscura.net/ SLNT https://slnt.com/tftc Join the TFTC Movement: Main YT Channel https://www.youtube.com/c/TFTC21/videos Clips YT Channel https://www.youtube.com/channel/UCUQcW3jxfQfEUS8kqR5pJtQ Website https://tftc.io/ Newsletter tftc.io/bitcoin-brief/ Twitter https://twitter.com/tftc21 Instagram https://www.instagram.com/tftc.io/ Nostr https://primal.net/tftc Follow Marty Bent: Twitter https://twitter.com/martybent Nostr https://primal.net/martybent Newsletter https://tftc.io/martys-bent/ Podcast https://www.tftc.io/tag/podcasts/

Sean Milmoe, co-founder and CFO of 360 Energy, discusses his transition from working at Blackstone financing conventional oil and gas businesses as well as wind and solar projects to building a bitcoin mining services company, why a combination of Fed money printing and the unsustainability of energy economics led him to bitcoin, what parallels exist between underwriting bitcoin mining sites and conventional natural gas well economics, and how he sees bitcoin mining upstream in oil & gas fields evolving from nascent to being a core part of drilling programs in the next several years.

Marty sits down with Edward Dowd to discuss the Federal Reserve's rate cuts, an impending housing and stock market crisis driven by the end of illegal immigration-fueled economic stimulus, the collapse of subprime auto lender Tri-Color, COVID vaccine injuries continuing to impact the economy, and how the recent assassination has diverted attention from accountability efforts. Ed Dowd on Twitter: https://x.com/DowdEdward STACK SATS hat: https://tftcmerch.io/ Our newsletter: https://www.tftc.io/bitcoin-brief/ TFTC Elite (Ad-free & Discord): https://www.tftc.io/#/portal/signup/ Discord: https://discord.gg/VJ2dABShBz Opportunity Cost Extension: https://www.opportunitycost.app/ Shoutout to our sponsors: Bitkey https://bit.ly/TFTCBitkey20 Unchained https://unchained.com/tftc/ Obscura https://obscura.net/ SLNT https://slnt.com/tftc Join the TFTC Movement: Main YT Channel https://www.youtube.com/c/TFTC21/videos Clips YT Channel https://www.youtube.com/channel/UCUQcW3jxfQfEUS8kqR5pJtQ Website https://tftc.io/ Newsletter tftc.io/bitcoin-brief/ Twitter https://twitter.com/tftc21 Instagram https://www.instagram.com/tftc.io/ Nostr https://primal.net/tftc Follow Marty Bent: Twitter https://twitter.com/martybent Nostr https://primal.net/martybent Newsletter https://tftc.io/martys-bent/ Podcast https://www.tftc.io/tag/podcasts/

Marty sits down with Melody Wright to discuss the brewing housing crisis, rising mortgage distress, and why she believes real estate speculation has created an unsustainable bubble that threatens younger generations. Melody Wright on Twitter: https://x.com/m3_melody Melody Wright on Substack: https://substack.com/@m3melody Melody Wright on YouTube: https://www.youtube.com/@m3_melody STACK SATS hat: https://tftcmerch.io/ Our newsletter: https://www.tftc.io/bitcoin-brief/ TFTC Elite (Ad-free & Discord): https://www.tftc.io/#/portal/signup/ Discord: https://discord.gg/VJ2dABShBz Opportunity Cost Extension: https://www.opportunitycost.app/ Shoutout to our sponsors: Bitkey https://bit.ly/TFTCBitkey20 Unchained https://unchained.com/tftc/ Obscura https://obscura.net/ SLNT https://slnt.com/tftc Join the TFTC Movement: Main YT Channel https://www.youtube.com/c/TFTC21/videos Clips YT Channel https://www.youtube.com/channel/UCUQcW3jxfQfEUS8kqR5pJtQ Website https://tftc.io/ Newsletter [tftc.io/bitcoin-brief/](http://tftc.io/bitcoin-brief/) Twitter https://twitter.com/tftc21 Instagram https://www.instagram.com/tftc.io/ Nostr https://primal.net/tftc Follow Marty Bent: Twitter https://twitter.com/martybent Nostr https://primal.net/martybent Newsletter https://tftc.io/martys-bent/ Podcast https://www.tftc.io/tag/podcasts/