Welcome Back to The Hurdle Rate Episode 65: Shifting Institutional In this week’s Hurdle Rate, the crew opens with updates from Strategy, Strive, and the digital credit market before recapping the major developments from Q2. We cover Strategy’s growing cash reserve, market feedback, and the evolution of Bitcoin-backed credit. We also explore institutional adoption, structured products, AI, intellectual property, and the limits of government intervention in the debt crisis. We close it off with thoughts on outdated financial systems and Bitcoin’s expanding role in traditional capital markets. Here's the latest with @TimKotzman, @ColeMacro, @PunterJeff, and @Werkman. Time Stamps: 0:00 - Welcome to The Hurdle Rate 5:19 - Digital Credit During Quiet Markets 8:01 - Strategy Rebuilds Its Cash Reserve 11:51 - Market Uncertainty And Bullish Catalysts 17:21 - STRC And Convertible Debt 19:37 - AI, The Fed, And Protecting IP 24:14 - The U.S. Debt Crisis 31:39 - Bitcoin-Backed Institutional Credit 35:30 - Building Structured Bitcoin Products 43:12 - Growing Institutional Bitcoin Interest 48:02 - Stablecoins And Outdated Settlements 53:05 - Bitcoin Stewardship And Constructive Engagement 58:29 - Closing Thoughts