EPISODE · Aug 7, 2026 · 51 MIN
#156 "It Looked Like a Ponzi Scheme" — Why This Hedge Fund CIO Changed His Mind on MSTR | Michael Treidl, Blue Coin Capital
from Alt Funds Network · host Mike Schroeder, Skyler Steinke, Mike Treidl
Find us online: https://altfunds.io/ Email us with topic ideas: [email protected] Spotify: https://bit.ly/4afXcan Apple Podcast: https://apple.co/4akXAUS Google: https://bit.ly/4am9oXk 👇 Click Below to be a guest on our video podcast: 👇 https://bit.ly/46X7cSQ Connect with Mike Treidl: Website: http://bluecoin.capital LinkedIn: https://www.linkedin.com/in/mtreidl/ Timestamps: 00:00 Bullish Coins Teaser 00:18 Podcast Intro Guests 00:49 TradFi to Crypto Journey 01:55 Bitcoin Accident Coinbase Link 03:53 Why Launch BlueCoin 05:54 Token Due Diligence Framework 07:57 Top Holdings Bullish Picks 09:56 Market Timing Crypto Winter 12:36 Cycle Signals Allocation Leverage 15:41 Spot vs ETFs Staking 17:54 Using Leverage Like Pros 20:42 AI Meets Crypto Payments 23:44 MicroStrategy Deep Dive Setup 25:25 Premium Flywheel Explained 26:37 Why Pay The Premium 27:06 Leverage Via Capital Markets 29:21 Bull Markets And Doom Loop 31:41 Bear Case And Commodity Analogy 32:39 Stretch Preferred Shares Basics 33:44 From Margin Calls To Preferreds 35:49 Why Stretch Broke The Buck 38:18 Deleveraging And Stablecoin Contagion 40:02 Stabilizing The Capital Stack 41:15 Who Should Buy Stretch 42:50 Diversify And Key Man Risk 44:41 Moving Goalposts And MNAV 46:55 Fund Manager Lessons Learned 47:56 Raising Capital And Fund Design 50:44 Wrap Up And Where To Find Mike Disclaimer: Alt Funds Network LLC and its affiliates, episode guests, and the companies they represent do not provide tax, legal or accounting or investment advice. This material has been prepared for informational and educational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal, accounting, and investment professionals before engaging in any transaction or making any financial or legal decision based on your specific situation.
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What this episode covers
Background: Mike Treidl, CIO and Founder of Blue Coin Capital with over 15 years of investment management experience. Description: In this episode of the Alt Funds Network Podcast, hosts Mike Schroeder and Skyler Steinke sit down with Michael Treidl, CIO & Founder of Blue Coin Capital, to unpack the investment thesis behind MicroStrategy, Bitcoin, and the evolving digital asset landscape. With over 15 years of experience at firms including Morgan Stanley and Capital Group before launching Blue Coin Capital, Michael shares why he went from being skeptical of MSTR's strategy to becoming bullish after conducting extensive research. He breaks down the mechanics behind the MSTR flywheel, explains STRC, discusses where the model could fail, and shares how institutional investors should think about Bitcoin and crypto today.
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#156 "It Looked Like a Ponzi Scheme" — Why This Hedge Fund CIO Changed His Mind on MSTR | Michael Treidl, Blue Coin Capital
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