The Big Macro/Crypto Bet I am taking
The Next MicroStrategy: The convergence of finance, crypto, and treasury companies
The Big Macro/Crypto Bet I am taking
Bitcoin functions as a release valve for macro liquidity, absorbing capital when traditional financial systems are constrained by regulation and unable to channel excess flows efficiently. Blockchain technology amplifies this dynamic by disintermediating legacy gatekeepers, creating parallel markets that operate outside the jurisdiction of centralized authorities.
Treasury companies sit at the center of this transition, bridging regulated financial structures and unregulated crypto markets by buying digital assets outright and functioning as capital structures that can employ leverage. In the credit cycle we are in now, capital aggressively prices these treasury companies as they take on large positions, effectively turning them into high-beta proxies for liquidity flows.
The real edge, however, lies not in chasing what everyone is already watching, MSTR and the established BTC and ETH treasury plays, but in getting in early with an informational advantage. The entire question now is simple: what is the next MSTR? The following write-up frames the big bet I am taking, one that is not even on the radar of traditional financial players precisely because they remain fixated on the obvious treasury names, leaving a blind spot where true asymmetry exists.
THE TRADE:
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