Tim Kotzman

Welcome back to The Bitcoin Treasuries Podcast. Today's guest is Garrett Johnston, Senior Vice President at Marsh. We discuss his career in insurance, risk based capital, Digital Credit in a bear market, talking to retail versus institutions, institutional grade Digital Credit, and more. Here's my conversation with @garrettoj. 0:00 - Intro 0:10 - Garrett’s career in insurance 6:12 - How institutions evaluate risk 18:00 - What is Risk Based Capital? 25:13 - What would be concerning to an institution? 37:05 - Par, peg, and de-peg 40:14 - Digital Credit in a bear market 45:14 - How do Bitcoin Treasury company executives talk to retail vs institutions? 54:00 - Why haven’t Bitcoin Treasury executives been more public in their conviction? 1:03:19 - Institutional Grade Digital Credit

I’m dedicating my life to Bitcoin. I’m all in.

Rent in NYC just hit a new all-time high. Median rent in Manhattan rose 8% over the last year to $5,295/month. This is insane. We must build more housing immediately.

Bitcoin is a game we can all WIN together.

Gradually, then suddenly

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Speaker Announcement: David Dziekanski David Dziekanski is CEO & CIO of Quantify Funds, the innovative ETF firm behind the STKD Bitcoin & Gold ETF (BTGD) — a groundbreaking fund that stacks 100% Bitcoin exposure with 100% Gold exposure in a single vehicle, which surpassed $75M in AUM and earned David multiple appearances on Bloomberg. 🎟️ Tickets are available to hear David speak this September! MBS 2026 | September 23-24 | Greater Columbus Convention Center | Columbus, OH midwestbtc.com | #MBS2026 #Bitcoin #BitcoinSecurity

I spoke with @jvisserlabs this week about: - is the AI mid-cycle slowdown over? - AI token price war - why he is turning bullish on bitcoin - tokenization & stablecoins - Siri vs Grok voice mode - Samsung and bottleneck stocks - Fed's July rate decision - gold and silver - regional banks YouTube: youtu.be/TP9AEulCw9g?si… Apple: podcasts.apple.com/us/podcast/has… Spotify: open.spotify.com/episode/5uCek2… TIMESTAMPS: 0:00 - Intro 0:42 - Grok vs. Meta's AI price war why cheaper AI won't cut spend 10:03 - Apple's Siri stumble & price hikes 14:50 - Using Grok in a Tesla 17:28 - Short sellers, Samsung's earnings & the mid-cycle slowdown 23:34 - Why Jordi is turning bullish on bitcoin 29:55 - Tokenization, stablecoins & the AI-crypto nexus 33:33 - Michael Saylor's Bitcoin sale — does it matter? 38:02 - Where else Jordi is deploying capital 42:04 - Does the Iran war actually matter for markets? 45:00 - The new robotic hand demo that changed everything 50:18 - Jordi’s upcoming video

Welcome Back to The Hurdle Rate Episode 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 @TimKotzman, @ColeMacro, @PunterJeff, and @Werkman. Time Stamps: 00:00 Welcome to the Hurdle Rate 03:20 Why Selling Bitcoin Helps STRC Confidence 05:37 Matt Cole on Strategy’s Long-Term Move 09:05 Bitcoin Absorbs the Sale 13:53 Bitcoin Liquidity Compared to Real Estate 17:29 Why the Model Still Works Without Capital Markets 19:03 Bitcoin CAGR + Balance Sheet Strength 23:14 Strive’s Dividend Math Compared to Strategy 27:40 SATA Short Interest + “Controlled Burn” 34:20 Jeff Explains Controlled Burns and Wildfire Incentives 41:56 Why Strive May Let SATA Trade Freely 44:05 Patience, Positioning, and Market Discipline 45:07 Closing Thoughts

Bitcoin is an emergent network of wallets weighted by satoshis, nodes weighted by commerce, and miners weighted by hashrate, with capital, consensus, and security held in dynamic equilibrium. $BTC

Orange dots tell only part of the story.

They are living their own lives.

This week, @novogratz and I are getting into everything: the Iran ceasefire that isn't really a ceasefire, Alex Karp's unfiltered indictment of the entire AI business model, and why we think Trump Accounts might be the single best policy idea to come out of this administration. Plus, we're discussing whether we think a California billionaire wealth tax is a good idea. This and much more on this week's episode of All Things Markets (@AllThingsMkts) (@SALTConference) Watch/Listen on X, YouTube, and Spotify. Timestamps 0:00 Mooch and Novo are back! 0:52 What is going on in the markets? 4:02 Alex Karp's indictment of the AI business model 6:12 AI regulation coming: James Talarico, data centers, sharing AI upside with society 7:18 Is AI more like the cloud or something more dangerous? 10:05 California's billionaire wealth tax debate 15:04 Novogratz at the White House to launch Trump accounts 17:21 Trump accounts deep dive: "The best thing they've done" 20:32 Bullish or Bearish Begins (California’s Wealth Tax passes in November, Iran peace deal goes back into effect by the end of Summer, France wins the World Cup, Grok becomes an actual competitor to Claude and ChatGPT, AI models move away from selling tokens for a service, SpaceXAI trades below its IPO price in 3 months) 27:09 What made you smile this week?

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Money about to rotate from AI to bitcoin

"Everyone's already in messaging apps, text, photos, docs. So why not money? Why can't Bitcoin flow through the same system?" @vikrantnyc on why Radar built Bitcoin payments into Signal instead of starting from scratch.