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Bitcoin Treasury Research & Insights
Articles, frameworks, and executive notes for leadership teams evaluating Bitcoin treasury strategy, governance, custody, reporting, and long-term capital allocation.
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Articles
Research
Published
Bitcoin Treasury Companies: Strategy₿'s Playbook
A high-level explainer of how Strategy turns its balance sheet into Bitcoin-backed securities — covering mNAV, share premiums, convertible bonds, the "infinite money glitch", and the key risks.
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Published
The Rise and Reckoning of the Bitcoin Treasury
How the sector matured through its first stress test in 2025 — the disciplined vs. aggressive paths, the summer correction, and a framework for adopting a treasury strategy.
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