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Bitcoin’s Strongest Setup Yet: Stephan Livera on OranjeBTC, Strategy & Bitcoin Treasuries
Bitcoin is in a period of fear, yet behind the scenes, the setup may be stronger than ever.
In this episode, we sit down with Stephan Livera, host of the Stephan Livera Podcast, to break down why Bitcoin’s current setup is so compelling and how Bitcoin treasury companies like Strategy (MSTR) and OranjeBTC are reshaping the market.
We discuss why some Bitcoin treasuries outperform while others struggle, the role of leverage and debt, proof of reserves, preferred shares, and how institutional and nation-state adoption could drive the next phase of Bitcoin’s growth.
If you’re wondering whether Bitcoin treasury companies are a risk, an opportunity, or both, this conversation will give you clarity.
Topics covered:
- Why Bitcoin’s setup may be stronger than ever
- How Bitcoin treasury companies actually work
- Strategy (MSTR), OranjeBTC & treasury models explained
- Why some treasuries fail while others accumulate more BTC
- Debt, leverage, MNAV & preferred shares
- Proof of reserves: transparency vs security
- Institutional adoption, ETFs & macro tailwinds
- What to focus on when Bitcoin sentiment is low
00:00 Introduction: Stephan Livera
02:12 Why Bitcoin Treasury Companies Exist vs BTC & ETFs
03:38 How Stephan Joined OrangeBTC (Advisor & Investor)
05:24 Can Anyone Beat Strategy? Winner-Take-Most Dynamics
09:44 What Makes a Winning Bitcoin Treasury Company
14:16 Treasury Drawdowns & Fiat vs Bitcoin Perspective
18:07 When Treasury Models Fail: Debt, Timing, and BTC Liquidations
22:08 Proof of Reserves
24:26 Michael Saylor Keynote & STRC
27:28 Treasuries as a Bridge to Mass Adoption
30:32 Strategy USD Reserve & Preferreds
32:30 The Education Gap in Bitcoin & Bitcoin Treasury Companies
34:35 “Does Saylor Know Something?”
39:33 Market Predictions for 2026
44:43 The Fear and Greed Index Perspective
45:34 Closing Thoughts & Long-Term Bitcoin Conviction
Big thanks to Little Bubble for allowing us to use his song: "One Chair": https://open.spotify.com/track/0XW7JgR2Nlg7WXGOeVT64h?si=a344b82984f74f81
Follow our Guest:
- Stephan Livera: https://stephanlivera.com/
- Stephan Livera: https://x.com/stephanlivera
- Stephan Livera Podcast: https://www.youtube.com/@StephanLivera
- OranjeBTC: https://x.com/ORANJEBTC
- OranjeBTC: https://www.oranjebtc.com/
DISCLAIMER: This is not is financial advice. This podcast is for educational and entertainment purposes only.
Thank you for listening!
Follow us on:
- X: https://x.com/OneChairPod
- Youtube: https://www.youtube.com/@OneChairPod
Published on 3 days, 14 hours ago