Bitcoin MagazineBlue Coin Capital CIO: MSTR’S BTC Buying Engine is About to IGNITE | Mike TreidlBitcoin treasury companies have moved from convertible bonds to perpetual preferred equity, and Mike Treidl explains why. He breaks down how preferreds let issuers like Strategy defer payments without defaulting, and why preferreds returning to par could give Strategy a second engine for buying Bitcoin. He also explains how sats per share and leverage without margin calls add value beyond holding Bitcoin directly.Chapters:0:00 – Mike Treidl on Bitcoin’s Rebound to $83K0:50 – From Morgan Stanley to Blue Coin Capital: Bridging Wall Street and Bitcoin1:49 – Risk Budget First: How to Size a Bitcoin Allocation4:11 – Seller Exhaustion and Bitcoin Treasury Companies5:27 – Why Treasury Companies Moved From Convertibles to Preferreds6:47 – What Strategy’s Preferreds Returning to Par Means for Bitcoin8:13 – Sats Per Share: Leverage Without Margin Calls9:11 – Pensions, Endowments and the Next Wave of Institutional Adoption11:23 – Blue Coin’s BarclayHedge Ranking and Buying STRC Below Par12:30 – Bitcoin’s Biggest Opportunities and Risks Over the Next Two YearsDISCLAIMER: The views and opinions expressed in this show are those of the participants and do not necessarily reflect the official policy or position of BTC Inc., Bitcoin Magazine, or any affiliated entities. This content is provided for informational and educational purposes only and should not be construed as investment, legal, tax, or accounting advice. Nothing contained in this show constitutes a solicitation, recommendation, endorsement, or offer to buy or sell any securities or financial instruments. Viewers should consult their own advisors before making financial or business decisions.This post Blue Coin Capital CIO: MSTR’S BTC Buying Engine is About to IGNITE | Mike Treidl first appeared on Bitcoin Magazine and is written by Patrick Green.