True North — The Investment Grade Bitcoin Platform
The Investment Grade Bitcoin Platform
Watch Latest Episode
Latest from True North
EP 80 The Berkshires of Bitcoin
The crew kicks off Season 3 with a balance sheet check-in on Strategy and Strive: Strategy's 950 BTC purchase, STRC buybacks, cash versus convertible debt, and Strive's growing Bitcoin position, dividend coverage, and potential warrant capital. The crew then breaks down why digital credit changes the probability of outcomes versus traditional credit, draws parallels between Strategy and Berkshire Hathaway's insurance float model, and closes with a look at options activity across ASST, MSTR, IBIT, and STRC.
Insurance Risk Bubbling
Strategy and Strive take center stage in a solo desk session comparing their Bitcoin balance sheets, dividend coverage, leverage, and capital capacity, including Strategy's pause in MSTR ATM sales, STRC repurchases, and push to return STRC to par. The discussion models how warrant proceeds and additional SATA issuance could reshape Strive's amplification, then explores downside protection, preferred-market liquidity, short interest, dividend reinvestment, and possible Bitcoin CAGR outcomes through 2030. The episode closes by examining private credit inside the insurance industry, CLO capital arbitrage, and lessons from Lehman and AIG that continue to shape the emerging digital credit market.
Sep 9, 2026Bitcoin for Business
An evening for business owners, operators, and investors who want to understand how money actually works — and what Bitcoin and digital credit mean for the decade ahead. Hosted by Jeff Walton, CRO of Strive.
Digital Credit Research Hub
The Definitive Guide to Digital Credit
Yield-bearing preferred securities with indirect Bitcoin exposure, offering 8.00%–13.00% stated yields. Six instruments, two issuers, one comprehensive research hub. Instrument profiles, risk analysis, comparison frameworks, and primary-source data — updated July 2026.
Explore the Digital Credit Hub →Digital Credit Dashboard
Live market data, yields, capital structure, and volatility across all six instruments.
Markets & Instruments
All six digital credit instruments mapped with rates, yields, and capital structure.
What Is Digital Credit?
The definition, mechanics, and how it differs from crypto lending.
Track Bitcoin holdings across 181 public companies in the Bitcoin treasury tracker — or follow Strategy's daily preferred-stock issuance in the STRC ATM Tracker.
10.0M+
Total Views
50K+
Monthly Viewers
185+
Episodes
240+
Hours of Content
Our Shows
True North Weekly
The flagship deep dive.
Every Wednesday, the True North crew breaks down the week in Bitcoin treasury strategy, structured finance, digital credit instruments, and macro. From balance sheets to basis trades, this is investment-grade analysis for allocators, treasurers, and high-conviction investors.
Browse Episodes →
The Hurdle Rate
The bar every investment must clear.
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.
Browse Episodes →
The Income Show
Rethinking income investing from first principles.
The Income Show rethinks income investing from first principles. Hosted by Joe Burnett, the show explores the foundations of credit, why traditional income strategies are breaking down, and the emergence of Digital Credit as a new asset class.
Browse Episodes →
True North Now
Spotlight conversations with the operators building Bitcoin's capital markets.
True North Now hosts in-depth, on-the-record conversations with the people building Bitcoin's capital markets — treasury company CEOs, structured-finance founders, and protocol-level researchers. Released as guests are booked, no fixed cadence.
Browse Episodes →Stay on Course. Get the Signal.
Subscribe for new-episode alerts, key insights, and the occasional alpha drop. Straight from True North.
No spam. Unsubscribe anytime.