Byworth: Seller Exhaustion Means Bitcoin’s Next Run Is “Just a Mater of Time”

How can Bitcoin holders earn yield without putting their stack at risk? Richard Byworth built a career structuring for hedge funds, and he argues that Bitcoin is the hurdle rate for everyone. He also explains why covered-call overwriting can eat away a major part of your Bitcoin in a rally, and he walks through basis trades collateralized by Bitcoin that offer low-volatility, market-neutral returns.

Chapters:
0:00 – Byworth on his Syz Capital exit tied to Bitcoin treasuries
1:43 – Generating yield in Bitcoin and the risk in covered calls
3:51 – Basis trading as a way to earn dollars backed by Bitcoin
4:47 – Inflation, AI borrowing, and digital credit’s pressure on the Treasury
8:39 – Record seller exhaustion and whether Bitcoin has bottomed
9:55 – The reason SATA hit par ahead of STRC
13:51 – Digital credit funds denominated in Swiss francs
15:51 – MSCI’s “Attack” directed at Bitcoin treasury companies
17:20 – Sovereign Bitcoin bonds and collaboration with JAN3
20:06 – El Salvador’s Bitcoin bond and Bitcoin’s place in the mortgage market

Disclaimer: The opinions and views heard on this program belong to the participants and do not necessarily represent the official policy or position of BTC Inc., Bitcoin Magazine, or any affiliated entities. These materials are meant purely for informational and educational use and should not be treated as investment, legal, tax, or accounting advice. Nothing in this program is an attempt to solicit, recommend, endorse, or offer the purchase or sale of any securities or financial instruments. Viewers are advised to consult their own advisors before making financial or business decisions.