#736: Bitcoin Treasury for Business with Scott Marmoll

**Marty Bent** (0:07)
You've had a dynamic where money's become freer than free.
When you talk about a Fed just gone nuts, all the central banks going nuts. So it's all acting like safe haven.

**SPEAKER_2** (0:18)
I believe that in a world where central bankers are tripping over themselves to devalue their currency, Bitcoin wins. In the world of fiat currencies, Bitcoin is the victor.

**Marty Bent** (0:29)
I mean, that's part of the bold case for Bitcoin.

**SPEAKER_2** (0:31)
If you're not paying attention, you probably should be. You probably should be, you probably should be, you probably should be.

**Marty Bent** (0:36)
Scott.

**Scott** (0:37)
Marty.

**Marty Bent** (0:38)
We're here, we've been working together on something for the last, what, two months now?

**Scott** (0:43)
Measured in AI years, probably two years.

**Marty Bent** (0:46)
Yes.

**Scott** (0:46)
But yes, at least a couple months.

**Marty Bent** (0:48)
Yeah. And so I think we just jump right into it because we're launching the PDF that we've been working on, the Bitcoin Treasury and Exit Playbook, which we've been mulling around again for the better part of two months and basically what you're doing at Capital B Advisory. What I'm doing at TFTC in 1031, what the Bitcoin price is doing right now going up. I think it's important for business owners to understand, particularly private business owners to understand the opportunity that Bitcoin presents them as a balance sheet asset. So we banged our heads and our clankers together for the better part of two months. We came up with this playbook, which you can go get now. The link to the playbook is in the show notes here, so you can go find those.
But yeah, I think that's what we're going to do today, just walk through the playbook. But before we walk through it, maybe explain what the audience will get out of this if they listen to the end and why you're passionate about this particular part of the market.

**Scott** (1:46)
Yeah, I think hopefully a useful tool, you know, clankers side, the content is ours with a lot of thought and detail into. It's a playbook for the Bitcoin space has a lot of advice on what to do as an individual, and some individuals are business owners and those Bitcoiners need a guidebook for what that looks like for their business. Because at the end of the day, the goal on the individual side and the business side is to get as much Bitcoin as possible. I have a decade of experience helping private business owners raise capital, whether that's selling the business, raising debt or equity, and recently brought that skill set specifically to the Bitcoiner business owner sector, which is not to say Bitcoin focus businesses and services exclusively, but rather just anyone with the mindset of a Bitcoiner should probably get advice when it comes to raising capital or selling their business, from someone with the mindset of a Bitcoiner. So that's the idea.
Playbook has lots of nuggets of wisdom.
From the dipping your toes to stacking a little bit of sats with the company cash flow to how do we augment that to should I own this thing at all? When Bitcoin is your opportunity cost, that question gets a lot harder to answer. So that's the attempt, and hopefully some good wisdom in there.

**Marty Bent** (3:13)
Yeah.
I guess we start out broken up into four parts. The first part is the case for Bitcoin Treasury in the first place. Like why, if you're a business owner, whether you're a Bitcoin or not, should you be thinking about this? Obviously, Michael Saylor strategy, been a big meme in public markets over the last almost five years, but this strategy applies to private businesses as well, and probably is actually better for private businesses.

**Scott** (3:42)
It does, and it is with the caveat that it's a little less financial engineering. Saylor has created a magical flywheel that I think people will study for ages. In the private markets, it's a little simpler. The opportunity is similar though, which is accumulating Bitcoin on the balance sheet for businesses is augmenting the performance in the balance sheet, whereas the historical fiat landscape for running businesses is all based on the P&L. So you start to accumulate this hard asset, it gives you optionality to do other things. First section is Bitcoin curiosity around the Bitcoin or business owner.
What do I do? What should I do to start to explore that? Same as when you're first exploring Bitcoin as an individual, you start to get the advice of, hey, I should DCA, I should be careful not to be in a for seller position over the short term. All these things apply, but in the business owner perspective, there's other factors.