How Strategy and STRC Could Build a $100T Bitcoin Financial System with Dan Hillery

Dan Hillery joins me to break down one of the biggest shifts happening in bitcoin right now: the rise of a full Bitcoin-native financial stack. We get into why STRC has become such a breakout product, how Strategy is building layered financial infrastructure on top of Bitcoin, and why products like Buck could expand access to Bitcoin-backed yield around the world. We also cover the long-term drivers of bitcoin’s price, the role of liquidity and credit markets, and why the securitization of Bitcoin may become one of the largest opportunities in global finance. We cover: • Why STRC has found product-market fit • How Strategy is building the Bitcoin risk curve • Why bitcoin-backed credit could reshape fixed income • MSTR as a layer built on top of Bitcoin • How Buck is packaging STRC for global users • Why Bitcoin’s financialization may drive long-term capital inflows • The risks to Strategy’s balance sheet and the broader system • How Dan thinks about Bitcoin allocation, yield, and long-term upside Guest links: Dan on X → https://twitter.com/Hillery_Dan Buck → https://buck.io Stack Bitcoin using your home equity → https://joinhorizon.com See your home's Bitcoin potential → https://joinhorizon.com/calculator Schedule a 1-on-1 consultation → https://calendly.com/d/cryw-39y-2j4/horizon-consultation Follow Joe on X → https://x.com/JoeConsorti Chapters: 00:00 Intro 01:13 Why STRC is such a big deal 03:52 Why STRC is succeeding where other preferreds struggled 05:29 STRC’s Sharpe ratio and risk-adjusted returns 07:38 Private credit, liquidity, and why STRC matters now 09:28 Retail vs institutional ownership of STRC 11:00 Basel III and Bitcoin risk weighting 13:22 How big STRC could get 14:52 What Buck is building 16:25 Buck’s growth and adoption so far 18:00 Why Bitcoin is becoming crypto’s best collateral 19:09 What drives Bitcoin long term 21:05 Macro, debt, and fiat debasement 23:30 How STRC and Strategy drive capital into bitcoin 25:38 Why retirees may love STRC 29:12 MSTR as Bitcoin’s layer 3 31:50 The future of Bitcoin layer 4 products 32:40 What Strategy builds next 35:50 How large Strategy’s financial infrastructure can become 37:00 The securitization of Bitcoin 38:57 Global demand and non-US access 40:45 Risks to the flywheel and Strategy’s balance sheet 43:34 How Dan thinks about asset allocation 46:17 Dan’s lessons from building in public 47:44 Twitter, careers, and credibility 48:41 At what price Dan would sell all his bitcoin Disclaimer: Horizon is a technology company that helps users buy and custody their Bitcoin and does not directly provide financial or investment services. Horizon connects homeowners with licensed home equity investment providers but does not act as an agent or broker for the homeowner or any third party. Homeowners should consult their financial, tax, or legal advisor before making any investment decision. For additional information, please refer to our FAQ, terms and conditions, and our preferred providers' websites.