Episode 21: The Intelligent Leverage Trade: Winter Isn't Coming Back

Welcome back to The Bitcoin Treasuries Podcast.

Episode 21: The Intelligent Leverage Trade: Winter Isn't Coming Back.

The crew is back with the latest on the Strategy earnings call recap, ATM adjustment, Bitcoin per share, leverage ratios and more.

Here's the Hurdle Rate for the week of August 4, 2025 with Ben Werkman, Matt Cole, Jeff Walton and Tim Kotzman.

0:00 - Welcome Back to The Hurdle Rate
1:34 - Recapping MSTR Earnings Call
9:49 - Strategy’s ATM Adjustment
21:00 - MSTR’s Bitcoin Per Share
30:03 - Only Look at Leverage Ratio
45:08 - Could Bitcoin Treasury Companies Lead to the Next Bear Market?

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