Coin Stories with Natalie Brunell

In 2026, Bitcoin treasury stocks have taken a much bigger beating than Bitcoin itself. Dylan LeClair, Director of Bitcoin Strategy at Metaplanet, joins me from to explain why he thinks the bears got carried away.
In this episode:
Why treasury company stocks fell so much further than Bitcoin did
His response to the criticism Parker Lewis brought to this show about perpetual preferred equitites
What Metaplanet is building in Japan, where $7 trillion sits in cash earning nothing
Whether he thinks Bitcoin has bottomed, from someone who swore off price calls
Follow Dylan LeClair at https://x.com/DylanLeClair 
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Order Natalie's new book "Bitcoin is For Everyone," a simple introduction to Bitcoin and what's broken in our current financial system: https://amzn.to/3WzFzfU 
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Thank you to our Title Sponsor, Ledn: Borrow against your Bitcoin with Ledn, which has a perfect track record protecting over $11 billion in client value through every market cycle since 2018. And Tether Gold is now live on Ledn, giving you two of the most verifiably scarce, non-sovereign assets ever created, held side by side. Hard assets. Real flexibility. One platform. Get .25% off your first bitcoin-backed loan: https://www.Ledn.io/natalie
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Bitdeer Technologies Group (NASDAQ: BTDR) powers AI and Bitcoin mining infrastructure with 3 GW of secured global energy — and owns the entire stack, from equipment manufacturing to data centers to proprietary orchestration software. Learn more at https://www.bitdeer.com.
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Abundant Mines is a fully-managed Bitcoin mining in the U.S. You own the miners. You keep 100% of the Bitcoin. Voted #1 mining company by peers. Get 1 month of free hosting: AbundantMines.com/Natalie
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Natalie's Bitcoin Product Partners:
Speed is my go-to Bitcoin Lightning wallet! Send, receive, or swap stablecoins and digital gold into Bitcoin in one app. Run a business? Speed powers Bitcoin payments for Steak 'n Shake, and it can do the same for you. Download at https://speed.app/natalie  and use code COINSTORIES10 for 5,000 free sats after your first transaction.
Download Bitkey Today and use my promo code STORIES to get 10% off the new Bitkey. This episode has been sponsored by Bitkey: https://bitkey.world/STORIES
Master Bitcoin self-custody and gain peace of mind with 1-on-1 training: https://www.thebitcoinway.com/natalie?utm_source=partner-natalie&utm_medium=podcast
With BitcoinIRA, you can invest in bitcoin 24/7 inside a tax-advantaged IRA. Choose a Traditional IRA to defer taxes, or a Roth IRA for tax-free withdrawals later. Take control of your future with BitcoinIRA: https://www.bitcoinira.com/natalie
Kalshi is the largest prediction market in the world. Use code HODL to win up to $500 when you trade $25 http://kalshi.com/r/HODL
Natalie's Upcoming Events:
The best time to plan for Bitcoin 2027 is right now. Early bird tickets are live — grab the lowest pricing available and use code HODL for 10% off: https://tickets.b.tc/event/bitcoin-2027?promoCodeTask=apply&promoCodeInput=HODL 
Extra Services to Consider:
Protect yourself from SIM Swaps that can hack your accounts and steal your Bitcoin. Join America's most secure mobile service, trusted by CEOs, VIPs and top corporations: https://www.efani.com/natalie  
Ditch your fiat health insurance like I did four years ago! I pay less than $200 and my health care is covered. Join me at CrowdHealth: www.joincrowdhealth.com/natalie 
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This podcast is for educational purposes and should not be construed as official investment advice. Ads in this episode are baked-in and may reference promotions or offers that are no longer available at the time of listening.

In this week's episode of the Coin Stories News Block powered exclusively by Ledn, we cover these major headlines related to Bitcoin, macroeconomics, and global finance:
The COLDCARD hack explained — the first time a major self-custody device has been compromised at scale, and what you need to know
Why this hack is different from Mt. Gox, Bitfinex, and FTX and why it matters more for everyday Bitcoiners
Strategy confirms it will no longer put 100% of capital raises into Bitcoin — here's what that actually means
Three Fed members voted to raise rates, the most divided the FOMC has been in a decade over rate hikes
A personal note on transparency, accountability, and my emergency episode on the COLDCARD hack (released on Friday, July 31)
Coinkite advisory: https://blog.coinkite.com/coldcard-mk3-seed-generation-warning/ 
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Ledn has a perfect track record protecting over $11 billion in client value through every market cycle since 2018. And Tether Gold is now live on Ledn, giving you two of the most verifiably scarce, non-sovereign assets ever created, held side by side. Hard assets. Real flexibility. One platform. Get .25% off your first bitcoin-backed loan: https://www.Ledn.io/natalie
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Order Natalie's new book "Bitcoin is For Everyone," a simple introduction to Bitcoin and what's broken in our current financial system: https://amzn.to/3WzFzfU 
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Upcoming Events:
The best time to plan for Bitcoin 2027 is right now. Early bird tickets are live — grab the lowest pricing available and use code HODL for 10% off: https://tickets.b.tc/event/bitcoin-2027?promoCodeTask=apply&promoCodeInput=HODL 
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This podcast is for educational purposes only and should not be construed as official investment advice. Always do your own research.

Parker Lewis, Head of Business Development at Zaprite and author of Gradually, Then Suddenly, has been one of the clearest writers on Bitcoin as money for years. Lately he's been vocal about the Bitcoin treasury companies and the yield products built on them.
I wanted to hear him out, but I also pushed back — because I think there's a version of these products that brings in people who wouldn't otherwise be here. We didn't land in the same place, which is what makes it worth your time.
In this episode:
Why Parker says the simplest way to save in Bitcoin is to own Bitcoin
His answer to something I hear constantly: that Bitcoin is too volatile for most people
His take on Digital Credit and whether it can work as an on-ramp for people who aren't ready to hold Bitcoin directly
What he'd hold instead: a little Bitcoin, and the rest in...cash??
What the price of a ribeye steak over the last few years says about what's happening to your money
Follow Parker Lewis on X https://x.com/parkeralewis
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Order Natalie's new book "Bitcoin is For Everyone," a simple introduction to Bitcoin and what's broken in our current financial system: https://amzn.to/3WzFzfU 
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Thank you to our title sponsor LEDN.
Borrow against your Bitcoin with Ledn, which has a perfect track record protecting over $11 billion in client value through every market cycle since 2018. And Tether Gold is now live on Ledn, giving you two of the most verifiably scarce, non-sovereign assets ever created, held side by side. Hard assets. Real flexibility. One platform. Get .25% off your first bitcoin-backed loan: https://www.Ledn.io/natalie
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Bitdeer Technologies Group (NASDAQ: BTDR) powers AI and Bitcoin mining infrastructure with 3 GW of secured global energy — and owns the entire stack, from equipment manufacturing to data centers to proprietary orchestration software. Learn more at https://www.bitdeer.com.
----
Abundant Mines is a fully-managed Bitcoin mining in the U.S. You own the miners. You keep 100% of the Bitcoin. Voted #1 mining company by peers. Get 1 month of free hosting: AbundantMines.com/Natalie
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Natalie's Bitcoin Product Partners:
Speed is my go-to Bitcoin Lightning wallet! Send, receive, or swap stablecoins and digital gold into Bitcoin in one app. Run a business? Speed powers Bitcoin payments for Steak 'n Shake, and it can do the same for you. Download at https://speed.app/natalie  and use code COINSTORIES10 for 5,000 free sats after your first transaction.
Download Bitkey Today and use my promo code STORIES to get 10% off the new Bitkey. This episode has been sponsored by Bitkey: https://bitkey.world/STORIES
Master Bitcoin self-custody and gain peace of mind with 1-on-1 training: https://www.thebitcoinway.com/natalie?utm_source=partner-natalie&utm_medium=podcast
With BitcoinIRA, you can invest in bitcoin 24/7 inside a tax-advantaged IRA. Choose a Traditional IRA to defer taxes, or a Roth IRA for tax-free withdrawals later. Take control of your future with BitcoinIRA: https://www.bitcoinira.com/natalie 
Natalie's Upcoming Events:
The best time to plan for Bitcoin 2027 is right now. Early bird tickets are live — grab the lowest pricing available and use code HODL for 10% off: https://tickets.b.tc/event/bitcoin-2027?promoCodeTask=apply&promoCodeInput=HODL 
Extra Services to Consider:
Protect yourself from SIM Swaps that can hack your accounts and steal your Bitcoin. Join America's most secure mobile service, trusted by CEOs, VIPs and top corporations: https://www.efani.com/natalie  
Ditch your fiat health insurance like I did four years ago! I pay less than $200 and my health care is covered. Join me at CrowdHealth: www.joincrowdhealth.com/natalie 
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This podcast is for educational purposes and should not be construed as official investment advice. Ads in this episode are baked-in and may reference promotions or offers that are no longer available at the time of listening.

In this urgent PSA episode of Coin Stories, Natalie Brunell sits down with Rob Hamilton, co-founder and CEO of AnchorWatch and one of the first people to analyze the ColdCard seed hack on-chain, to explain what happened and what ColdCard users need to do right now.
We cover:
Which ColdCard models and firmware versions are affected
Why the seed phrases became guessable in the first place, explained with no jargon
Why moving your seed onto another manufacturer's device does not remove the risk
What to do ASAP, step by step, including the test transaction people skip when they're panicked
Follow Rob Hamilton at https://x.com/Rob1Ham - his DMs are open.
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Order Natalie's new book "Bitcoin is For Everyone," a simple introduction to Bitcoin and what's broken in our current financial system: https://amzn.to/3WzFzfU 
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Ledn is the global leader in Bitcoin-backed loans, issuing over $10 billion in loans since 2018, and they were the first to offer proof of reserves. With Ledn, you get custody loans, no credit checks, no monthly payments, and more. Get .25% off your first loan, learn more at https://www.Ledn.io/natalie 
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Speed is my go-to Bitcoin Lightning wallet! Send, receive, or swap stablecoins and digital gold into Bitcoin in one app. Run a business? Speed powers Bitcoin payments for Steak 'n Shake, and it can do the same for you. Download at https://speed.app/natalie  and use code COINSTORIES10 for 5,000 free sats after your first transaction.
----
Abundant Mines is a fully-managed Bitcoin mining in the U.S. You own the miners. You keep 100% of the Bitcoin. Voted #1 mining company by peers. Get 1 month of free hosting: AbundantMines.com/Natalie
----
Natalie's Bitcoin Product Partners:
Download Bitkey Today and use my promo code STORIES to get 10% off the new Bitkey: https://bitkey.world/STORIES 
Master your Bitcoin self-custody with 1-on-1 help and gain peace of mind with the help of The Bitcoin Way: https://www.thebitcoinway.com/natalie 
With BitcoinIRA, you can invest in bitcoin 24/7 inside a tax-advantaged IRA. Choose a Traditional IRA to defer taxes, or a Roth IRA for tax-free withdrawals later. Take control of your future with BitcoinIRA: https://www.bitcoinira.com/natalie 
Natalie's Upcoming Events:
The best time to plan for Bitcoin 2027 is right now. Early bird tickets are live — grab the lowest pricing available and use code HODL for 10% off: https://tickets.b.tc/event/bitcoin-2027?promoCodeTask=apply&promoCodeInput=HODL 
Extra Services to Consider:
Protect yourself from SIM Swaps that can hack your accounts and steal your Bitcoin. Join America's most secure mobile service, trusted by CEOs, VIPs and top corporations: https://www.efani.com/natalie  
Ditch your fiat health insurance like I did four years ago! Join me at CrowdHealth: www.joincrowdhealth.com/natalie
----
This podcast is for educational purposes and should not be construed as official investment advice. Ads in this episode are baked-in and may reference promotions or offers that are no longer available at the time of listening.

In his first unrestricted one-on-one interview since stepping down as CEO of XXI, Jack Mallers joins Coin Stories to set the record straight on his departure and why he chose principles over a fortune on Wall Street. We discuss:
Why he walked away from Twenty One Capital, and the disagreement that got him there
His message to the people who invested because they believed in him
Why he calls it a failure, and the guilt he says comes with it
The blank check he was handed, and why he couldn't take it
What he tells anyone who bought Bitcoin in 2021 and feels burned by the round-trip price action
The one thing he says would send Bitcoin sharply higher
Follow Jack Mallers on X https://x.com/jackmallers
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Order Natalie's new book "Bitcoin is For Everyone," a simple introduction to Bitcoin and what's broken in our current financial system: https://amzn.to/3WzFzfU 
----
Borrow against your Bitcoin with Ledn, the global leader in Bitcoin-backed loans, issuing over $10 billion in loans since 2018, and they were the first to offer proof of reserves. With Ledn, you get custody loans, no credit checks, no monthly payments, and more. Get .25% off your first loan, learn more at https://www.Ledn.io/natalie 
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Speed is my go-to Bitcoin Lightning wallet! Send, receive, or swap stablecoins and digital gold into Bitcoin in one app. Run a business? Speed powers Bitcoin payments for Steak 'n Shake, and it can do the same for you. Download at https://speed.app/natalie  and use code COINSTORIES10 for 5,000 free sats after your first transaction.
----
Abundant Mines is a fully-managed Bitcoin mining in the U.S. You own the miners. You keep 100% of the Bitcoin. Voted #1 mining company by peers. Get 1 month of free hosting: AbundantMines.com/Natalie
----
Natalie's Bitcoin Product Partners:
Download Bitkey Today and use my promo code STORIES to get 10% off the new Bitkey. This episode has been sponsored by Bitkey: https://bitkey.world/STORIES
Master your Bitcoin self-custody with 1-on-1 help and gain peace of mind with the help of The Bitcoin Way: https://www.thebitcoinway.com/natalie 
With BitcoinIRA, you can invest in bitcoin 24/7 inside a tax-advantaged IRA. Choose a Traditional IRA to defer taxes, or a Roth IRA for tax-free withdrawals later. Take control of your future with BitcoinIRA: https://www.bitcoinira.com/natalie 
Natalie's Upcoming Events:
The best time to plan for Bitcoin 2027 is right now. Early bird tickets are live — grab the lowest pricing available and use code HODL for 10% off: https://tickets.b.tc/event/bitcoin-2027?promoCodeTask=apply&promoCodeInput=HODL 
Extra Services to Consider:
Protect yourself from SIM Swaps that can hack your accounts and steal your Bitcoin. Join America's most secure mobile service, trusted by CEOs, VIPs and top corporations: https://www.efani.com/natalie  
Ditch your fiat health insurance like I did four years ago! Join me at CrowdHealth: www.joincrowdhealth.com/natalie 
----
This podcast is for educational purposes and should not be construed as official investment advice. Ads in this episode are baked-in and may reference promotions or offers that are no longer available at the time of listening.
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