Bitcoin Magazine Podcast

The global credit market is worth $300 trillion and Michael Saylor believes digital credit will capture a massive share of it. In this keynote from Strategy World 2026, Saylor walks through the complete theory of digital credit from first principles: what Bitcoin is, why variable preferred equity is the longest-duration capital structure short of equity, and how STRC delivers double-digit yields with deferred tax treatment and principal protection. He also lays out the programmable future of digital money and digital yield, with ETFs, on-chain tokens, and bank accounts all being built on top of STRC as a foundation.🔶 Michael Saylor - Founder & Executive Chairman, StrategyChapters: 0:00 - How to Make Money Digitally1:00 - What Is Bitcoin? Defining Digital Capital2:40 - What Is Digital Credit and How STRC Was Created4:00 - Converting Capital Into Credit: The Core Breakthrough5:26 - From Exchange Leverage to Variable Preferred8:14 - Why Senior Debt, Convertible Notes & Covenants Fall Short11:30 - Solving the Investor Dilemma: Equity Returns + Credit Safety13:05 - BTC Rating, BTC Risk & How to Price Digital Credit15:31 - STRC Performance: Holding Value Through a 45% Bitcoin Drawdown21:26 - Tax Yield, Generational Wealth & Corporate Treasury Strategy27:51 - Programmable Digital Credit: ETFs, Tokens, Bank Accounts & Layer 337:47 - The Reflexive Flywheel: How Credit, Bitcoin & Equity Drive Each Other44:12 - The $50 Trillion Opportunity & Call to Action#DigitalCredit #BitcoinTreasury #PreferredEquity #BitcoinConference #Strive #Metaplanet #Strategy #MicroStrategy #BitcoinInvesting #FixedIncome #BitcoinCapitalMarkets #DylanLeClair #MattCole #BenWerkman #AndrewKang #BitcoinYield #InstitutionalBitcoin #BitcoinFinance #CapitalStructure #BitcoinETF #BitcoinBondMarket #reflexivity DISCLAIMER: The views and opinions expressed in this show are those of the participants and do not necessarily reflect the official policy or position of BTC Inc., Bitcoin Magazine, or any affiliated entities. This content is provided for informational and educational purposes only and should not be construed as investment, legal, tax, or accounting advice. Nothing contained in this show constitutes a solicitation, recommendation, endorsement, or offer to buy or sell any securities or financial instruments. Viewers should consult their own advisors before making financial or business decisions.

We're living in the "centaur era" of AI and if you're not combining human judgment with AI tools, you're already falling behind. In this episode, Zack Cohen and the Bitcoin Policy Hour team break down the BCG study proving that AI-augmented workers crush both pure humans and blind AI users, then pivot to Secretary Rubio's landmark Munich Security Conference speech signaling the end of the postwar order with Europe. Plus, the hosts analyze Bitcoin ETF flows, whale selling pressure, and why a federal judge just ruled your AI chat logs aren't privileged.🔶 Connect with Zack Shapiro on X: https://x.com/zackbshapiro🔶 Connect with Zack Cohen on X: https://x.com/zackcohen_🔶 Connect with Ken Egan on X: https://x.com/Bayman11771🔶 Learn more about the Bitcoin Policy Institute: https://www.btcpolicy.org/Chapters: 2:21 Open AI, Open Cloud and The AI Landscape3:32 Self-Hosting AI Infrastructure and Privacy Concerns8:50 Federal Court Rules AI Chat Logs Are Not Privileged13:15 Anthropic's Legal Tools and the SaaS Apocalypse14:47 The Centaur Era: Human-AI Collaboration Strategy20:16 Ken's Reaction: AI Adoption Is Inevitable23:10 Chess, Poker and the Limits of the AI Metaphor28:01 Secretary Rubio's Munich Security Conference Speech37:38 U.S.-Europe Strategy: Good Cop After Bad Cop?44:12 Civilizational Values, Immigration and European Decline52:21 Bitcoin Market Analysis: ETFs, Jane Street and Whale Selling#Bitcoin #BitcoinPolicy #BitcoinPolicyHour #BPI #AIStrategy #CentaurMaxing #HumanAI #ArtificialIntelligence #SecretaryRubio #MunichSecurityConference #USForeignPolicy #NATO #Geopolitics #BitcoinETF #IBIT #Blackrock #JaneStreet #AIPrivacy #SelfHostedAI #AttorneyClientPrivilege #BitcoinMarket #AIWorkforce #JaggedFrontier #DigitalAssets #MonetaryPolicy #EuropeanPolitics #WesternValues #BitcoinAnalysis #AIProductivity #TechPolicyDISCLAIMER: The views and opinions expressed in this show are those of the participants and do not necessarily reflect the official policy or position of BTC Inc., Bitcoin Magazine, or any affiliated entities. This content is provided for informational and educational purposes only and should not be construed as investment, legal, tax, or accounting advice. Nothing contained in this show constitutes a solicitation, recommendation, endorsement, or offer to buy or sell any securities or financial instruments. Viewers should consult their own advisors before making financial or business decisions.

Is Strategy actually doing nothing or is digital credit the product? This episode analyzes Strategy’s Q4 2025 earnings call and explains why its perpetual preferred equity avoided margin calls, liquidations, and maturity risk. Pierre Rochard and Spencer Nichols break down why digital credit products like Stretch held near par while bitcoin drew down sharply. From credit ratings and cash buffers to Bitcoin-backed lending and quantum risk, this episode reframes what a Bitcoin treasury company really is.
🔶 Connect with Pierre Rochard on X: https://x.com/BitcoinPierre
🔶 Connect with Spencer Nichols on X: https://x.com/DeSpencer_
🔶 Follow Bitcoin For Corporations X:https://x.com/BitcoinForCorps
🔶 Learn more about Bitcoin For Corporations - the executive network for corporate bitcoin adoption: https://b.tc/corporations
Chapters:
00:00 – Why Strategy’s Digital Credit Is the Real Product
05:00 – Bear-Market Stress Testing Without Margin Calls
10:00 – Bank Credit vs Non-Bank Credit Explained
15:00 – Bitcoin-Backed Lending and Institutional Demand
20:00 – STRC vs bitcoin: Volatility and Yield
25:00 – Who These Products Are Actually For 3
0:00 – Ideology vs Adoption in Bitcoin Finance
35:00 – Strategy’s Plan to Increase Bitcoin Per Share
40:00 – Rates, Liquidity, and the AI Macro Backdrop
45:00 – Quantum Risk, Consensus, and “Don’t Panic”
50:00 – Security, Governance, and Bitcoin’s Upgrade Path
55:00 – What This Means for Bitcoin’s Financial Future
#Bitcoin #MichaelSaylor #BitcoinTreasury #BitcoinForCorporations #Strategy #DigitalCredit #BitcoinFinance #CorporateBitcoin #BitcoinAdoption #BitcoinCapitalMarkets #BitcoinYield #BitcoinCredit #BitcoinConference #BitcoinMagazine #InstitutionalBitcoin
DISCLAIMER: The views and opinions expressed in this show are those of the participants and do not necessarily reflect the official policy or position of BTC Inc., Bitcoin Magazine, or any affiliated entities. This content is provided for informational and educational purposes only and should not be construed as investment, legal, tax, or accounting advice. Nothing contained in this show constitutes a solicitation, recommendation, endorsement, or offer to buy or sell any securities or financial instruments. Viewers should consult their own advisors before making financial or business decisions.

The Bitcoin Kernel project is one of the most misunderstood developments in Bitcoin Core. In this conversation, Shinobi and Sedited explain how isolating validation logic increases flexibility, improves security, and enables alternative node implementations. From multi-process architecture to formal protocol specifications, this episode covers why kernel development matters now.
#Bitcoin #BitcoinDevelopment #BitcoinCore
⭐️⚔: SIGN UP WITH DUELBITS TODAY FOR A CHANCE TO WIN UP TO 2 BTC: 👉 https://bm.b.tc/YT-Duelbits #ad
🔶 Shinobi - Technical Editor, Bitcoin Magazine🔶 Sedited – Bitcoin Core Developer
Chapters: 00:00 – Why Bitcoin Consensus Isolation Matters
04:58 – Why "libconsensus" Failed
08:01 – Kernel vs Multi-Process Bitcoin Core
10:55 – Can Developers Build Full Nodes With the Kernel Today? 12:25 – Real-World Kernel Adoption Outside Bitcoin Core
14:05 – How Bitcoin Kernel Validates Blocks
16:26 – Does the Kernel Centralize Power?
19:41 – Competition, Forking, and Consensus Safety
21:19 – Could Bitcoin Ever Have a Formal Specification?
24:29 – The Future of Bitcoin Kernel Development
#BitcoinKernel #ConsensusRules #BitcoinProtocol #NodeImplementations #BitcoinEngineering #BitcoinMagazine #OpenSourceBitcoin #DecentralizedSystems #BitcoinValidation #BitcoinInfrastructure #BitcoinBuildersDISCLAIMER: The views and opinions expressed in this show are those of the participants and do not necessarily reflect the official policy or position of BTC Inc., Bitcoin Magazine, or any affiliated entities. This content is provided for informational and educational purposes only and should not be construed as investment, legal, tax, or accounting advice. Nothing contained in this show constitutes a solicitation, recommendation, endorsement, or offer to buy or sell any securities or financial instruments. Viewers should consult their own advisors before making financial or business decisions.

Cluster mempool is more than a code refactor, it’s a fundamental rethink of how Bitcoin handles transactions. Pieter Wuille breaks down how grouping related transactions into clusters solves long-standing computational and incentive problems. Shinobi connects the dots between mempool behavior, miner incentives, and future Bitcoin development.#Bitcoin #BitcoinCore #ClusterMempool ⭐️⚔: SIGN UP WITH DUELBITS TODAY FOR A CHANCE TO WIN UP TO 2 BTC: 👉 https://bm.b.tc/YT-Duelbits #ad 🔶 Shinobi - Technical Editor, Bitcoin Magazine🔶 Pieter Wuille — Researcher, Chaincode LabsChapters: 00:00 — Why Bitcoin’s Mempool Has Been Broken 02:10 — The Core Problem with Transaction Ordering 04:05 — Why Eviction Logic Failed Under Load 06:00 — The Limits of Heuristics in Bitcoin Core 08:20 — Replace-By-Fee and Incentive Compatibility 11:40 — Why Recomputing the Entire Mempool Is Impossible 14:00 — Introducing Clusters and the 64-Transaction Limit 17:00 — How Cluster Mempool Enables Optimal Ordering 20:05 — Future-Proofing Bitcoin for New Use Cases 24:30 — Incentives, Miners, and the Long-Term Bitcoin Path#PieterWuille #ChaincodeLabs #BitcoinDevelopment #Mempool #BitcoinFees #RBF #BitcoinMining #Layer2 #LightningNetwork #BitcoinInfrastructure #BitcoinMagazine #BitcoinConferenceDISCLAIMER: The views and opinions expressed in this show are those of the participants and do not necessarily reflect the official policy or position of BTC Inc., Bitcoin Magazine, or any affiliated entities. This content is provided for informational and educational purposes only and should not be construed as investment, legal, tax, or accounting advice. Nothing contained in this show constitutes a solicitation, recommendation, endorsement, or offer to buy or sell any securities or financial instruments. Viewers should consult their own advisors before making financial or business decisions.