Metaplanet, Strategy, and the Corporate Bitcoin Race | Dylan LeClair

<p>Dylan LeClair breaks down the rise of Bitcoin treasury companies, why corporate adoption may be hitting a “gradually then suddenly” inflection point, and whether Michael Saylor’s lead is now insurmountable.</p> <p>We get into how Metaplanet scaled from a few hundred Bitcoin to 16,000+, what’s driving premiums over NAV, and why public capital markets are becoming the biggest buyers of Bitcoin.</p> <p>Dylan also explains Saylor’s latest innovation, “Stretch", and explains why this could transform corporate balance sheets and fixed income markets.</p> <p>In this episode:</p> <ul> <li>How corporate treasuries are competing in a winner-take-most market</li> <li>Why premiums to NAV compress - and when they could expand again</li> <li>The mechanics behind Stretch</li> <li>How liquidity, interest rates, and credit markets drive Bitcoin price action</li> </ul> <p><strong>THANKS TO OUR SPONSORS:</strong></p> <p><a href="https://river.com/wbd"><strong>RIVER</strong></a></p> <p><a href="https://www.anchorwatch.com/"><strong>ANCHORWATCH</strong></a></p> <p><a href="https://www.iren.com/"><strong>IREN</strong></a></p> <p><a href="https://mining.blockwaresolutions.com/wbd"><strong>BLOCKWARE</strong></a></p> <p><a href="https://ledn.io/?utm_source=podcast&utm_medium=partnership&utm_campaign=2025_whatbitcoindid&utm_content=ad_read"><strong>LEDN</strong></a></p> <p><strong>Follow:</strong></p> <p>Danny Knowles: <a href="https://x.com/%5C%5C%5C_DannyKnowles">https://x.com/_DannyKnowles</a> or <a href="https://primal.net/danny">https://primal.net/danny</a></p> <p>Dylan LeClair: <a href="https://x.com/DylanLeClair%5C_">https://x.com/DylanLeClair_</a></p>