Jeff Walton is the Chief Risk Officer at Strive ($ASST), where he builds digital credit products that give institutions Bitcoin exposure. His work sits at the forefront of industrializing the speculative attack on the dollar. › https://x.com/punterjeff PARTNERS 🌳 Gain peace of mind with Onramp’s Multi-Institution Custody solution. Sign up with code BRAM to receive $150 in Bitcoin after your first deposit: https://onrampbitcoin.com/bram 🟧 Gemini’s Bitcoin Credit Card: Earn instant bitcoin rewards on every purchase with no annual fee. Sign up today to earn a $200 intro Bitcoin bonus: https://gemini.com/bram 🔐 Blockstream Jade Plus: The simplest and most secure hardware wallet on the planet - Get 10% off your entire order with code BRAM at https://store.blockstream.com 🔨 Stamp Seed: The safest way to backup your hardware wallet - Get 15% off with code BRAM at https://stampseed.com PRODUCTS I ENDORSE › Get 10% off a Bitaxe open-source Bitcoin home miner using code BRAM at https://shop.powermining.io/?ref=BRAM › Buy Bitcoin in the EU 🇪🇺 via https://relai.me/bram and use code BRAM to reduce fees by 0.5% 🔔 SUBSCRIBE TO GET NOTIFIED › https://youtube.com/@bramk › https://x.com/bramk 🕑 TIMESTAMPS 00:00 - The speculative attack on the dollar: Pierre Rochard's thesis 03:47 - Why corporations borrow weak fiat to buy strong Bitcoin 07:22 - Real estate vs. Bitcoin: leveraging a hard asset 09:37 - Why 98% of people won't self-custody Bitcoin 11:34 - Structuring Bitcoin exposure with less volatility 14:00 - The concept of Bitcoin volatility insurance 15:59 - The insurance analogy: underwriting risk with a pile of capital 18:43 - Why Bitcoin-backed products beat Oracle's 40-year bond 27:47 - The bank business model vs. the Bitcoin model 34:05 - Perpetual preferred equity vs. convertible debt (SEDA) 46:29 - The addressable market: Insurance companies' capital structure 56:01 - Why regulators prevent insurance companies from holding Bitcoin 01:13:12 - Bitcoin as the new global hurdle rate for capital 01:27:36 - The Millennial problem: no pension, no safety net 01:45:16 - Why Bitcoin must become the unit of account ℹ️ EPISODE SUMMARY Strive CRO Jeff Walton joins Bram Kanstein and breaks down how the speculative attack on the dollar is accelerating using Bitcoin-backed financial products. He explains how instruments like perpetual preferred equity (Strive’s SATA and Strategy’s STRC) allow massive pools of TradFi capital—like insurance companies—to gain exposure to Bitcoin’s appreciation without suffering 80% volatility. This engine converts cheap fiat debt into hard Bitcoin. We discuss the concept of Bitcoin as the new global hurdle rate and why risk is currently mispriced globally
