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Yves & Quentin From The One Chair Pod: Saylor’s $1.4B Cash Reserve for MSTR

Yves & Quentin From The One Chair Pod: Saylor’s $1.4B Cash Reserve for MSTR

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 🔥 Swiss Bitcoiners Yves and Quentin from the One Chair Pod debate whether Saylor's $1.4 billion USD reserve was BRILLIANT or common shareholder betrayal - plus deep dives on XXI's NYSE debut, MetaPlanet's preferreds, and Future (Switzerland). In this Treasury Orange exclusive, two of Europe's sharpest Bitcoin treasury analysts reveal: ✅ Why Strategy's $1.4B cash raise in 7 trading days was "a sign of strength" despite dilution 💰 MetaPlanet is "my favorite Bitcoin treasury at 1 mNAV." Why Japan's yield environment is perfect 📊 XXI (Jack Mallers) debuts with 43K Bitcoin - can they compete with Strategy's 660K? 🎯 Future (Switzerland with Adam Back) - why Swiss franc strength makes preferreds attractive ⚡ "Investing in treasuries above 2-3x MNAV is painful" - when to actually buy these stocks 🚨 Strategy should start selling cash-secured puts with their USD reserve (premium + cheaper Bitcoin) 💎 Block enabling Bitcoin payments for millions of merchants - adoption is gradual but coming *THE DEBATE:* Yves (Bitcoin maxi perspective): "Diluting the common to stack USD is not in shareholders' best interest. But Strategy had to show the market they'll do what it takes to pay preferreds no matter what. It's a narrative play." Quentin (pragmatic view): "Bitcoin per share went down this week, but long-term this makes preferreds way more attractive. They'll raise WAY more through preferreds now. Multiple times more accretive to common shareholders." Both agree: Strategy won't ever actually SELL Bitcoin. They have too many other options to raise capital first. *TIMESTAMPS:* 00:00 Intro To Yves & Quentin From The One Chair Podcast 01:25 The Strategy (MSTR) USD Reserve & Market Perception 07:36 Does It Ever Make Sense For Microstrategy To Sell Bitcoin? 09:23 Investment Considerations for Bitcoin Treasuries 15:27 Monetizing Bitcoin Holdings & Financial Strategies 22:36 XXI And The Competitive Bitcoin Treasury Landscape 29:08 MetaPlanet's Strategic Moves in Bitcoin Acquisition 33:18 Future: A Swiss Entrant Into the Bitcoin Treasury Space 35:45 Switzerland's Central Bank Rate Policy 38:51 Block's Merchant Services: Jack Dorsey's Adoption Push 41:39 Where To Find The One Chair Podcast 42:10 Stay Orange *BEST QUOTES:* 💥 "Strategy raised $1.4B in 7 days while Bitcoin is down 30% and stock is down massively. That's a sign of strength" 🎯 "If you're investing at 2-3x MNAV, that's painful. Close to 1.0 MNAV is a great entry point - especially blue chips like Strategy, Strive, MetaPlanet" 📈 "MetaPlanet is my favorite treasury company at these levels. They executed extremely well, learned from Strategy's mistakes" 🏦 "With USD reserve, Strategy should start selling cash-secured puts. Get premium + cheaper Bitcoin" ⚡ "XXI starts with 43K Bitcoin - impressive. But they need 600K more to compete with Strategy. What's the plan?" 🔥 "Japan is perfect for preferreds. Yield-starved environment. MetaPlanet can issue at lower yields than US products and still be attractive" *WHY THIS MATTERS:* Yves and Quentin run One Chair Pod, analyzing BTC treasuries from a European perspective. They provide the international view that complements US-focused analysis. Their mNAV framework is critical for investors: "Not all treasuries are equal. Blue chips (Strategy, Strive, MetaPlanet) at 1.0 MNAV are opportunities. Companies trading at 10-20x MNAV during the frenzy? Those hurt a lot of people." *COMPANIES DISCUSSED:* Strategy/MicroStrategy (MSTR) - $1.4B USD reserve, 660K+ Bitcoin, preferreds strategy XXI - Jack Mallers, 43K Bitcoin, NYSE debut, Strike integration MetaPlanet - Mercury & MARS preferreds launching January, Japan focus Future - Switzerland, Adam Back, Richard Byworth Strive (SATA) - Matt Cole's 12-month cash reserve model (founded by Vivek Ramaswamy) Block/Square - Jack Dorsey, Bitcoin merchant payments Strike - Bitcoin loans, potential public vehicle Tether - Paolo Ardoino project, tokenized USD stablecoin *CONNECT WITH ONE CHAIR POD:* 📺 YouTube: https://www.youtube.com/@OneChairPod 🔔 Yves: https://twitter.com/GrafYves 🔔 Quentin: https://twitter.com/QuentinIsOnX *RELATED TREASURY ORANGE VIDEOS:* 📺 Matt Odell on MSTR Dilution: https://youtu.be/8dW-U2JClko 📺 Future (BTC Treasury w/ Richard Byworth): https://www.youtube.com/watch?v=3xfo_P3mY48 📺 Strive CEO Matt Cole: https://youtu.be/8r21Ttd-DLY 📺 Grain of Salt on Prefs: https://twitter.com/TylerCompiler/status/1991318908255514920 📺 MSTR True North on USD Reserve: https://www.youtube.com/watch?v=2u9jJPzd5Wo 📧 Contact: tyler@treasuryorange.com 🔔 Tyler on X: https://twitter.com/tylercompiler 🎙️ Treasury Orange: Analyzing Bitcoin treasury companies w/ insider access | TreasuryOrange.com https://youtube.com/@TreasuryOrange 🟠 STAY ORANGE #Bitcoin #MSTR #Strategy #MicroStrategy #BitcoinTreasury #MetaPlanet #XXI #JackMallers #Strike #OneChairPod...
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