Wall Street Is Financializing Bitcoin — What Comes Next?

Wall Street is financializing Bitcoin.

From 21 Capital's launch to Bitcoin-native business metrics and Arizona’s bold treasury bill, this Roundup breaks down the major shifts shaping Bitcoin in the business world.

Jon Gordon (Satoshi Health Advisors, NosFabrica) and Trey Sellers (Unchained Capital) join Josh Friedeman for a high-signal conversation about:– How 21 Capital and others are creating financial products on top of Bitcoin– The rise of metrics like “Bitcoin per share” and “Bitcoin yield”– Arizona's move to hold Bitcoin in its state treasury– Why measuring value in sats is becoming the new KPI for Bitcoin businesses– Custody, risk, and how to avoid the next FTX-style blowup

👇 Timestamps + key links below!

🌐 CONNECT WITH JON GORDON
𝕏 https://x.com/thebitcoinyogi
📸 https://instagram.com/jongordon9
🔗 https://linkedin.com/in/jon-gordon-29942162
🌍 https://satoshihealth.com

🌐 CONNECT WITH TREY SELLERS
𝕏 https://x.com/ts_hodl
🔗 https://linkedin.com/in/treysellers
🌍 https://treysellers.com
📝 https://firebtc.substack.com

🌐 CONNECT WITH JOSH
𝕏 https://x.com/joshuafriedeman
🔗 https://linkedin.com/in/joshuafriedeman

🚀 Unlock your Bitcoin business strategy
📘 The FREE Bitcoin-for-Business Quick Start Guide includes:
💡 Six Ways ANY Business Can Benefit from Bitcoin
🤝 Top Bitcoin-Only Businesses to Partner With
🧠 Key Bitcoin Concepts for Beginners
👉 https://bizbit.blog/quick-start-guide

🤝 SHOW PARTNERS
⚙️ VELAS COMMERCE — Build with Bitcoin. Build with Lightning. Web, apps & POS integration → https://velascommerce.com
💪 STRONG WEALTH — Bitcoin-native wealth planning → https://strongwealth.net
🌌 VOID — Private, AI-powered search with zero tracking → https://askvoid.com

🕒 Timestamps
00:00 — Intro
00:45 — 21 Capital - A financialized bitcoin "pure play"?
05:50 — Premiums should compress over time
10:08 — MNAV and "bitcoin yield" as key metrics
12:21 — Normalizing bitcoin as a "unit of account"
14:50 — Coinbase's new yield product (how it's different)
20:43 — Will MoE to UoA be shorter than SoV to MoE?
24:03 — Arizona's new bitcoin bill
29:27 — Custody options for Arizona and other states
33:35 — Developing your own BTC strategy
37:54 — Outro

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