{"id":241137,"date":"2026-10-19T12:41:42","date_gmt":"2026-10-19T12:41:42","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=241137"},"modified":"2026-10-19T12:41:42","modified_gmt":"2026-10-19T12:41:42","slug":"richard-byworth-bitcoins-next-run-just-a-mater-of-time-thanks-to-seller-exhaustion","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=241137","title":{"rendered":"Richard Byworth: Bitcoin\u2019s Next Run \u201cJust a Mater of Time\u201d thanks to Seller Exhaustion"},"content":{"rendered":"<p><a href=\"https:\/\/bitcoinmagazine.com\/\">Bitcoin Magazine<\/a><\/p>\n<p><a href=\"https:\/\/bitcoinmagazine.com\/videos\/richard-byworth-bitcoins-next-run-just-a-mater-of-time-thanks-to-seller-exhaustion\">Richard Byworth: Bitcoin\u2019s Next Run \u201cJust a Mater of Time\u201d thanks to Seller Exhaustion<\/a><\/p>\n<div><\/div>\n<p class=\"wp-block-paragraph\">How do you earn yield on Bitcoin without risking your stack? Richard Byworth, who spent his career structuring for hedge funds, explains why Bitcoin is the hurdle rate for everyone, and why covered-call overwriting can cost you a significant portion of your Bitcoin in a rally. He walks through how basis trades collateralized by Bitcoin can deliver low-volatility, market-neutral returns.<\/p>\n<p class=\"wp-block-paragraph\">Chapters:<br \/>0:00 \u2013 Richard Byworth on Leaving Syz Capital Over Bitcoin Treasuries<br \/>1:43 \u2013 Earning Yield in Bitcoin and Why Covered Calls Are Risky<br \/>3:51 \u2013 Basis Trading: Earning Dollars Collateralized by Bitcoin<br \/>4:47 \u2013 Inflation, AI Borrowing and How Digital Credit Pressures the Treasury<br \/>8:39 \u2013 Record Seller Exhaustion: Is the Bitcoin Bottom In?<br \/>9:55 \u2013 Why SATA Reached Par Before STRC<br \/>13:51 \u2013 Digital Credit Funds in Swiss Francs<br \/>15:51 \u2013 MSCI\u2019s \u201cAttack\u201d on Bitcoin Treasury Companies<br \/>17:20 \u2013 Bitcoin Bonds for Nations: Working With JAN3<br \/>20:06 \u2013 El Salvador\u2019s Bitcoin Bond and Bitcoin in the Mortgage Market<\/p>\n<p class=\"wp-block-paragraph\">DISCLAIMER: The views and opinions expressed in this show are those of the participants and do not necessarily reflect the official policy or position of BTC Inc., Bitcoin Magazine, or any affiliated entities. This content is provided for informational and educational purposes only and should not be construed as investment, legal, tax, or accounting advice. Nothing contained in this show constitutes a solicitation, recommendation, endorsement, or offer to buy or sell any securities or financial instruments. Viewers should consult their own advisors before making financial or business decisions.<\/p>\n<p>This post <a href=\"https:\/\/bitcoinmagazine.com\/videos\/richard-byworth-bitcoins-next-run-just-a-mater-of-time-thanks-to-seller-exhaustion\">Richard Byworth: Bitcoin\u2019s Next Run \u201cJust a Mater of Time\u201d thanks to Seller Exhaustion<\/a> first appeared on <a href=\"https:\/\/bitcoinmagazine.com\/\">Bitcoin Magazine<\/a> and is written by <a href=\"https:\/\/bitcoinmagazine.com\/authors\/patrickgreen\">Patrick Green<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Bitcoin Magazine Richard Byworth: Bitcoin\u2019s Next Run \u201cJust a Mater of Time\u201d thanks to Seller Exhaustion How do you earn yield on Bitcoin without risking your stack? Richard Byworth, who spent his career structuring for hedge funds, explains why Bitcoin is the hurdle rate for everyone, and why covered-call overwriting can cost you a significant [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":241138,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-241137","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/241137"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=241137"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/241137\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/241138"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=241137"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=241137"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=241137"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}