Richard Byworth: Bitcoin’s Next Run “Just a Mater of Time” thanks to Seller Exhaustion

Bitcoin Magazine Richard Byworth: Bitcoin’s Next Run “Just a Mater of Time” 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 portion of your Bitcoin in a rally. He walks through how basis trades collateralized by Bitcoin can deliver low-volatility, market-neutral returns. Chapters: 0:00 – Richard Byworth on Leaving Syz Capital Over Bitcoin Treasuries 1:43 – Earning Yield in Bitcoin and Why Covered Calls Are Risky 3:51 – Basis Trading: Earning Dollars Collateralized by Bitcoin 4:47 – Inflation, AI Borrowing and How Digital Credit Pressures the Treasury 8:39 – Record Seller Exhaustion: Is the Bitcoin Bottom…

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