The Income Show is back with host Joe Burnett, joined by Lyn Alden, to discuss U.S. Treasury buybacks, long-term yields, and the path toward financial repression. They distinguish the Treasury’s recent actions from full yield curve control, examine fiscal dominance and the relationship between the Treasury and Federal Reserve, and consider what these policies mean for hard assets. They also explore Bitcoin’s role as money and a protocol of value, its recent performance relative to gold, and the structure, valuation, and leverage risks of digital credit. Lyn compares Bitcoin mining with AI compute and explains why greater technological abundance would not eliminate scarcity or the need for money.

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Timestamps:

0:00 - Intro

1:15 - Treasury Buybacks and Yield Curve Control

5:55 - Why Long-Term Yields Matter

9:44 - Druckenmiller and Financial Repression

13:10 - Hard Money and Fiscal Dominance

20:36 - Bitcoin’s Role as Money

25:20 - Treasuries, Hard Assets and Currency Failure

29:16 - Bitcoin as a Protocol of Value

32:31 - Bitcoin vs. Gold

36:32 - The Digital Credit Thesis

41:16 - Valuing Digital Credit

47:23 - Stablecoins, Tokenization and Reflexivity

54:41 - Bitcoin, AI Compute and Abundance

59:41 - Closing Thoughts

Disclaimer: The content in this video is for informational and educational purposes only and should not be considered financial advice. We are not financial advisors, and you should consult with a qualified professional before making any financial decisions. All investments involve risks, and you are responsible for your own decisions.

True North does not intend for anything herein to be considered an offer or sale of any securities, including those of Strive. True North encourages listeners to consult with their tax and investment advisors. Additional information on any securities or issuers referenced herein can be found in such issuers’ filings with the Securities and Exchange Commission (“SEC”), including any registration statements, prospectuses and prospectus supplements for each issuers’ securities. Listeners should read such documents and other documents incorporated by reference therein or that such issuer has filed with the SEC for more complete information. You may get these documents for free by visiting EDGAR on the SEC website at [www.sec.gov](http://www.sec.gov).*

Any securities referred to herein, including those of True North’s parent Strive, are not collateralized by underlying bitcoin holdings and may be subordinated to senior claims. There are no guarantee of returns liquidity or future performance. The securities referred to herein are neither bank deposits, nor FDIC insured, nor regulated in the same way, and do not have the same regulatory and other protections as bank accounts, money market funds, treasuries, or similar investments and as a result may not be comparable investments. Current trading prices and effective yields may vary, current rates are not indicative of future rates, and in some cases rates are subject to frequent adjustments and may be significantly lower than discussed herein. Cash dividends are not guaranteed. In some cases, dividends have not been paid and may not be paid in the future. Ownership of securities referred to in herein does not confer ownership in the underlying assets, including bitcoin.

The Income Show is back with host Joe Burnett, joined by Jessy Gilger, a certified financial planner and founder of Verify Wealth, to discuss Bitcoin, personal finance, and the risks of chasing yield. They examine how investors can navigate Bitcoin drawdowns, whether the four-year cycle still matters, and why financial plans should reflect real-world goals and cash-flow needs. They also explore Bitcoin-native financial planning, self-custody versus ETFs, the role of education in broader adoption, and the differences between growth and income investing. Finally, Joe and Jessy discuss Bitcoin-backed preferred stock, MSTR as amplified Bitcoin exposure, and why investors should carefully weigh leverage, volatility, and downside risk.

Timestamps:

0:00 - Intro

1:38 - Bitcoin’s Drawdown and Investor Behavior

4:01 - The Four-Year Cycle and Halvings

6:10 - Planning Through Bitcoin Volatility

13:09 - Financial Advisors and Bitcoin ETFs

16:00 - Self-Custody vs. ETFs

18:49 - Cash Flow Before Bitcoin

22:41 - Education and the Next Wave of Adoption

27:31 - Growth vs. Income Investing

32:22 - When Income Investing Fits

47:55 - MSTR and Amplified Bitcoin

57:07 - Closing Thoughts

Disclaimer: The content in this video is for informational and educational purposes only and should not be considered financial advice. We are not financial advisors, and you should consult with a qualified professional before making any financial decisions. All investments involve risks, and you are responsible for your own decisions.

True North does not intend for anything herein to be considered an offer or sale of any securities, including those of Strive. True North encourages listeners to consult with their tax and investment advisors. Additional information on any securities or issuers referenced herein can be found in such issuers’ filings with the Securities and Exchange Commission (“SEC”), including any registration statements, prospectuses and prospectus supplements for each issuers’ securities. Listeners should read such documents and other documents incorporated by reference therein or that such issuer has filed with the SEC for more complete information. You may get these documents for free by visiting EDGAR on the SEC website at [www.sec.gov](http://www.sec.gov).\*

Any securities referred to herein, including those of True North’s parent Strive, are not collateralized by underlying bitcoin holdings and may be subordinated to senior claims. There are no guarantee of returns liquidity or future performance. The securities referred to herein are neither bank deposits, nor FDIC insured, nor regulated in the same way, and do not have the same regulatory and other protections as bank accounts, money market funds, treasuries, or similar investments and as a result may not be comparable investments. Current trading prices and effective yields may vary, current rates are not indicative of future rates, and in some cases rates are subject to frequent adjustments and may be significantly lower than discussed herein. Cash dividends are not guaranteed. In some cases, dividends have not been paid and may not be paid in the future. Ownership of securities referred to in herein does not confer ownership in the underlying assets, including bitcoin.

The Income Show is back with host Joe Burnett, joined by Dr. Jeff Ross, founder and CEO of Vailshire Capital Management, to discuss Bitcoin, global liquidity, and the changing macroeconomic landscape. They examine Jeff’s transition from radiologist to macro fund manager, why gold has recently outperformed Bitcoin, and how hard assets could perform over the next decade. They also explore Bitcoin’s four-year cycle, the possibility of a market bottom, Strategy’s growing focus on digital credit, and the risks facing leveraged Bitcoin treasury companies. Finally, Jeff explains why investors should approach leverage cautiously and shares his long-term advice: stay humble and stack sats.

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Timestamps:

0:00 Intro

1:52 From Radiologist to Macro Fund Manager

5:23 How Medicine Shaped His Investing

8:06 From Gold Bug to Bitcoin Believer

16:05 Is Bitcoin the Ultimate Hard Asset?

21:30 Yield Curve Control, Bonds and Housing

25:04 10-Year Outlook for Bitcoin, Gold and Stocks

29:58 Is Bitcoin’s Four-Year Cycle Still Alive?

39:42 Digital Credit and Strategy’s Changing Focus

45:14 Bitcoin, Proof of Stake and Washington

50:23 The Leverage Risk for Bitcoin Treasury Companies

53:54 Can Bitcoin Yield Products Go Mainstream?

58:30 Closing Thoughts