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From Deloitte to Semler Scientific: Nick Colletta on Bitcoin Treasuries
Episode 5
What if corporations began treating bitcoin as their benchmark for capital allocation? In this episode, Nick Colletta, Treasurer at Semler Scientific, shares his journey from Deloitte Digital Assets to leading one of the first public bitcoin treasury companies, explaining why bitcoin per share is the key metric, how to manage volatility, and why security is paramount. He also discusses the early stage of corporate adoption, future treasury innovations, and his advice for professionals looking to build a career in bitcoin.
Timestamps:
0:00 - Nick’s background in accounting and Deloitte digital assets
2:38 - Inside Deloitte’s crypto work and becoming bitcoin only
5:02 - Why Nick joined Semler Scientific as treasurer
5:40 - First encounter with bitcoin and early lessons
7:07 - Why bitcoin is the best money
8:37 - Why bitcoin matters for corporations
10:20 - How bitcoin fortifies corporate balance sheets
11:25 - Explaining Semler’s bitcoin treasury strategy
12:56 - Key metrics for evaluating bitcoin treasury companies
15:03 - Intelligent leverage and long duration financing
16:08 - How to think about NAV premiums
17:05 - Bitcoin as the hurdle rate for capital allocation
18:32 - How early we are in bitcoin corporate adoption
19:38 - What really drives bitcoin adoption
22:12 - Tools for managing a bitcoin treasury
23:36 - Saylor’s playbook and future treasury innovations
25:15 - How Semler manages bitcoin’s volatility
28:16 - Why securing bitcoin is the top priority
30:07 - Proof of reserves, audits, and bitcoin treasuries
32:17 - Bitcoin’s path: from individuals to corporations to governments
33:21 - Is Wall Street co-opting bitcoin, or vice versa?
35:05 - Why Saylor shares his entire strategy with competitors
37:23 - Why more companies haven’t copied Saylor yet
38:09 - The future of bitcoin treasury companies
39:09 - Will bitcoin ever see another brutal bear market?
40:35 - Is the bull market over?
40:58 - What excites Nick most about the future
42:43 - Advice for young professionals entering the bitcoin industry
44:05 - Closing thoughts and where to follow Nick
Published on 15 hours ago