Name: Live from BTC Prague - Day 2
Uploaded: 2026-06-12T13:03:43+00:00
Duration: 8910 s

Speakers

Stephane de La Faverie — CEO, Estée Lauder Companies

Larry Serach — President, The Block

Mauricio D. Batomeo — Co-founder, Leen

Freddy New — CEO, Bhuddle

Summary

The second day of BTC Prague features interviews with Stephan La, Freddy New, Mauricio D. Batomeo, Larry Serach, Ephra Finson, and Danny Sanders. Conversations span Bitcoin market outlook, the role of Bitcoin treasury companies, Lightning-based payments, Bitcoin-backed lending, self-custody, and the future of Ethereum. Key investment views include a bullish Bitcoin call with a power-law thesis, a levered long on MicroStrategy as a Bitcoin proxy, caution on Bitcoin short-term due to Strategy’s overhang, and bullish takes on Hyperliquid and Zcash as standout tokens.

Stephan La is wildly bullish on Bitcoin, citing power-law growth and the bear market being the best time to buy.
He also views good Bitcoin treasury companies, specifically Strategy (MicroStrategy), as levered ways to outrun Bitcoin and attract new capital.
Freddy New describes Bhuddle as a UK-listed Bitcoin treasury company that actively uses its Bitcoin for Lightning payments.
Mauricio D. Batomeo highlights Leen’s investment-grade S&P-rated bond as the first rated Bitcoin debt instrument, signaling institutional appetite.
Larry Serach warns that Bitcoin faces short-term downside risk because Strategy’s large leveraged position creates an overhang that may suppress buying.
He identifies Hyperliquid and Zcash as the only tokens with real demand, driven by fundamentals and privacy narrative, while calling Ethereum structurally challenged.
Ephra Finson and Danny Sanders talk about Bitcoin’s role in freedom, self-custody, and the hardware wallet landscape, with Trezor touting its open-source security legacy.

Ideas

Stephane de La Faverie CEO, Estée Lauder Companies 14:36

MSTR can outperform Bitcoin via leverage.

Good Bitcoin treasury companies like Strategy (MicroStrategy) can outrun Bitcoin by using leverage from debt and equity issuance, attracting capital that wouldn't otherwise flow into Bitcoin. Despite custody and dilution risks, they are a net positive force for Bitcoin adoption.

Stephane de La Faverie CEO, Estée Lauder Companies 19:08

Buy Bitcoin now, best time.

Short-term Bitcoin faces a significant overhang from Strategy's large leveraged position (4% of supply), which may force selling if Bitcoin does not rise. Large investors are hesitant to allocate, making more downside likely. He would not be surprised if current levels are not the bottom.

Larry Serach President, The Block 83:15

Hyperliquid leads on fundamentals and demand.

Hyperliquid has outcompeted all other protocols in decentralized perpetuals for fundamental reasons, and is one of the very few tokens with a real bid in a dead market. It is performing well amid widespread token weakness.

Larry Serach President, The Block 83:15

Zcash benefits from privacy narrative.

Zcash has benefited from a strong narrative around privacy and increasing discourse. It is one of the few tokens where people are buying for fundamental reasons, making it an outlier performer in the current market.

Larry Serach President, The Block 88:27

Ethereum faces challenges, avoid for now.

Ethereum has lost its edge due to poor leadership, inability to attract normal users, and Solana's challenge. The assumption that Ethereum will always be the winning smart-contract chain is broken, making it difficult for large allocators to commit. It will struggle unless the foundation makes drastic changes.

Live from BTC Prague - Day 2

Summary

Ideas

Up Next