Episode 23: Noise in the Market.

The crew is back with the latest including discussion on Bitcoin Treasury Companies trading below 1X MNAV, gold revaluation, Bitcoin Treasury executive compensation, and thoughts on preferred liquidation preference.

Here's the Hurdle Rate for the week of August 18, 2025 with Jeff Walton, Ben Werkman, Matt Cole and Tim Kotzman.

0:30 - Welcome Back to The Hurdle Rate
1:00 - Trading Below 1 mNAV?
28:11 - Gold Revaluation
37:21 - Bitcoin Treasury Executive Compensation
42:40 - Preferred Liquidation Preference

Thank you to our sponsor, Swan Bitcoin.
We buy Bitcoin at www.swan.com