Bitcoin Corporate Treasuries: X Spaces insights for the upcoming Asia conference in Hong Kong.
Timestamp Overview
[00:00:00 - 00:05:10] Introduction and Event Preview
- George Mekhail welcomes everyone to a preview of Bitcoin Asia, happening in 20 days, and introduces the topic of Bitcoin in company treasuries.
- He mentions ticket prices increasing soon and free general admission ending tomorrow, encouraging people to get pro passes for special sessions.
- Guests John Riggins, Andrew Webley, and Siddharth Bharwani are introduced; they will speak at the event.
- The Bitcoin for Corporations symposium is highlighted as a key part of the conference with many speakers and executives.
[00:05:10 - 00:10:00] Guest Backgrounds and Challenges in India
- Siddharth Bharwani shares his company’s start with Bitcoin in 2022, pivoting fully to Bitcoin in 2024, and facing strict rules in India.
- Andrew Webley talks about his UK company listing on the stock market in April 2025, now holding 2,100 Bitcoin and ranking high globally.
- George asks Siddharth about talks with Indian regulators, who are cautious due to past bans but slowly opening up.
- Siddharth explains India’s history with a Bitcoin ban lifted in 2020 and ongoing discussions on how to regulate it.
[00:10:00 - 00:15:00] Views on Bitcoin Adoption by Companies
- Andrew expresses support for companies holding Bitcoin, seeing it as positive for adoption and not just for individuals.
- He compares Bitcoin exposure for companies to holding cash reserves and differentiates between small and large holdings.
- George discusses the responsibility to accumulate Bitcoin once understood, like a duty for company leaders.
- Andrew describes the shift from running a private to public company, with more focus on investors and longer workdays.
[00:15:00 - 00:20:00] Future of Fiat and Bitcoin Strategies
- Andrew notes that fiat currencies like dollars are losing value, making Bitcoin a smart long-term choice for companies.
- He explains how future high Bitcoin prices will make current strategies even more valuable due to relative currency values.
- John Riggins introduces his Hong Kong-based company, Moon Inc., which holds 28 Bitcoin and plans announcements at the conference.
- George asks John for travel tips for Hong Kong, like getting a SIM card, enjoying food, and exploring the city.
[00:20:00 - 00:25:00] Hong Kong as a Bitcoin Hub
- John praises Hong Kong’s food, venues, and activities like hikes and rooftop parties during the conference.
- He encourages getting tickets soon and mentions perks for Moon shareholders.
- George resets the discussion on current market trends, like Bitcoin’s price lull and treasury company pullbacks.
- He notes new financial products like perpetual preferred shares for raising money to buy more Bitcoin.
[00:25:00 - 00:30:00] Market Outlook and Success Metrics
- Andrew sees August as a quiet month for markets due to holidays but optimistic for Bitcoin’s rise soon.
- He believes Bitcoin treasury companies offer “compound Bitcoin” benefits over just holding Bitcoin.
- George asks about measuring success; Andrew points to metrics like Bitcoin per share on his company’s website.
- He explains improving Bitcoin per share through capital raises, making shareholders better off over time.
[00:30:00 - 00:35:00] Valuation and Education Efforts
- Andrew introduces a new metric called PBID to value Bitcoin companies, similar to traditional price-earnings ratios.
- It shows many treasury companies as undervalued, helping educate big investors.
- Siddharth focuses on building long-term trust in India, where Bitcoin has a bad reputation from past scams.
- He mentions regulatory hurdles like trading limits for small companies and plans for Bitcoin education courses.
[00:35:00 - 00:40:00] Education and Value Creation
- George agrees education creates new Bitcoin fans through treasury companies, like in Japan with Meta Planet.
- John adds that corporations in Hong Kong add value to local markets and investors through Bitcoin strategies.
- Andrew envisions future conglomerates like Korean trading giants, built on strong Bitcoin balance sheets.
- He compares this to historical building booms in New York by well-capitalized families.
[00:40:00 - 00:45:00] Risks and Future Visions
- George applauds the courage of CEOs in convincing boards and shareholders about Bitcoin.
- Andrew likens Bitcoin to the early Internet, predicting massive changes and innovations built on it.
- He gives examples like smartphones and electric cars that evolved from Internet tech.
- George notes early adopters like MicroStrategy gaining huge advantages in accumulating Bitcoin.
[00:45:00 - 00:50:00] Addressing Concerns and Regulations
- John says his board supports the strategy; Hong Kong regulators protect investors strongly at first.
- Andrew discusses UK’s past crypto restrictions but recent softening, like allowing ETNs.
- He emphasizes transparency and strong governance to meet regulator expectations early.
- George asks about investor concerns; Andrew stresses clear communication without jargon.
[00:50:00 - 00:57:07] Advice and Closing
- Andrew hopes the UK government keeps its Bitcoin holdings for the country’s future.
- For aspiring CEOs, he advises treating the role with respect, delivering ethically for investors.
- John agrees, focusing on shareholder best interests and joining networks like Bitcoin for Corporations.
- George wraps up, reminding about the event in 20 days and free tickets ending soon.
Notable Quotes
Bitcoin Adoption
Anything that improves the adoption of bitcoin is positive.
Andrew Webley @asjwebley
Company Responsibility
You have a responsibility to accumulate it in that context.
George Mekhail @gmekhail
Fiat Decline
Fiat currencies are dramatically reducing in value.
Andrew Webley @asjwebley
Education Importance
Building that is crucial.
Siddarth Bharwani @sidbharwani
Future Vision
Bitcoin's the Internet of value.
Andrew Webley @asjwebley
Hong Kong Appeal
Hong Kong's one of the world's great cities.
John Riggins @DistRiggs
CEO Advice
Treat everyone with compassion and respect.
Andrew Webley @asjwebley
Strategy Focus
What's best for shareholders.
John Riggins @DistRiggs
Market Optimism
We're all in for a very exciting couple of months.
Andrew Webley @asjwebley
Trust Building
Build long term trust.
Siddarth Bharwani @sidbharwani
Questions & Answers
Question 1: What challenges has Jet King faced in India regarding Bitcoin?
Answer: Siddharth Bharwani explained that India had a blanket ban on Bitcoin lifted in 2020, but regulators remain cautious due to capital controls and past scams, leading to slow progress in corporate adoption.
Question 2: Why does Andrew Webley support companies holding Bitcoin?
Answer: Andrew Webley views it as positive for Bitcoin adoption, comparing it to holding cash reserves, and believes companies have the right to build strong balance sheets on the best asset.
Question 3: What does winning look like for Smarter Web Company?
Answer: Andrew Webley focuses on improving Bitcoin per share through capital raises, using metrics like MNAV and PBID to show value, aiming for long-term growth over five to ten years.
Question 4: How is education important for Bitcoin treasury companies?
Answer: Siddharth Bharwani and George Mekhail discussed building trust and awareness in markets like India and Japan, where companies educate shareholders and create new Bitcoin enthusiasts.
Question 5: What travel tips did John Riggins give for Hong Kong?
Answer: John Riggins recommended getting a SIM card from Moon Inc., trying local food like dim sum and seafood, hiking to Victoria Peak, and enjoying the waterfront and rooftop parties.
Question 6: What risks and concerns are treasury companies addressing?
Answer: John Riggins noted Hong Kong regulators’ strong initial stance to protect investors, while Andrew Webley highlighted UK’s past restrictions but emphasized transparency and governance to build trust.
Question 7: What advice is given to aspiring Bitcoin treasury CEOs?
Answer: Andrew Webley advised treating the role with respect and delivering ethically, while John Riggins suggested focusing on shareholders and joining networks like Bitcoin for Corporations.
People and Organizations Mentioned
- George Mekhail: Host of the Bitcoin Asia preview discussion and managing director of Bitcoin for Corporations at BTC Inc.; he is also an author of books like “Thank God for Bitcoin,” a contributor to Bitcoin Magazine, and a speaker at Bitcoin conferences.
- Anna: Assistant or co-host in the Twitter Spaces event, helping with speaker invites and event reminders; likely affiliated with BTC Inc. or Bitcoin Asia events, though no prominent external profile was found.
- John Riggins: CEO of Moon Inc., discussed his company’s Bitcoin treasury strategy and Hong Kong as a hub; he is a speaker at Bitcoin Asia, with a background in founding partnerships, and leads a HKEX-listed company.
- Andrew Webley: CEO of Smarter Web Company, shared his firm’s IPO and Bitcoin holdings; former Head of Online at Hargreaves Lansdown, a Bitcoin investor with over 25 years in internet and marketing.
- Siddharth Bharwani: Joint managing director and CFO of Jetking Infotrain Limited, explained India’s regulatory challenges and his company’s pivot to Bitcoin; first Indian public company to adopt a full Bitcoin treasury, with a background in finance and education.
- Simon Gerovich: CEO of Meta Planet, mentioned as attending Bitcoin Asia and leading Bitcoin adoption in Japan; heads a Tokyo-listed firm with significant BTC holdings, focusing on treasury strategies.
- Adam Back: Referenced for his group Nakamoto 21 raising capital for Bitcoin acquisitions; CEO of Blockstream, inventor of Hashcash (cited by Satoshi Nakamoto), and a prominent cryptographer often speculated as Bitcoin’s creator.
- Michael Saylor: Implied through “Sailor” and MicroStrategy’s strategy, pioneer of corporate Bitcoin treasuries; Executive Chairman of MicroStrategy, co-founder, and advocate holding over 597,000 BTC.
- BTC Inc.: Organizers of Bitcoin Asia and other conferences, where George works; parent company of Bitcoin Magazine, focused on Bitcoin education, events, and media globally.
- Bitcoin Asia: Upcoming conference in Hong Kong discussed as the event venue; annual Bitcoin-focused gathering by BTC Inc., bringing together community, companies, and investors in Asia.
- Jet King Info Train Limited (Jetking Infotrain Ltd): Siddharth’s company, an Indian IT training firm listed on BSE; pivoted to a Bitcoin treasury in 2024, focusing on education and holding BTC exclusively.
- Smarter Web Company: Andrew’s UK-based web design and marketing company; listed on Aquis Stock Exchange in April 2025, adopts Bitcoin treasury with over 2,100 BTC, emphasizing acquisitions and policy.
- Moon Inc. (HK Asia Holdings Ltd): John’s Hong Kong telecom firm selling prepaid products; HKEX-listed (1723.HK), adopted Bitcoin treasury holding 28 BTC, with plans for product launches.
- Meta Planet: Japanese firm led by Simon, adopting Bitcoin treasury; Tokyo-listed, largest BTC holder outside North America with over 17,000 BTC, focused on equity raises for Bitcoin.
- MicroStrategy (Strategy): US firm pioneering Bitcoin treasuries, mentioned for its escape velocity and holdings; Nasdaq-listed (MSTR), business intelligence company holding over 597,000 BTC under Michael Saylor.
- Reserve Bank of India (RBI): India’s central bank, discussed for its cautious stance on crypto including past bans; experimenting with e-rupee on blockchain, monitors global developments for policy.
- Security Exchange Board of India (SEBI): India’s securities regulator, mentioned in regulatory discussions; open to overseeing crypto as securities, proposing multi-regulator frameworks for digital assets.
- GIFT City: International financial hub in Gujarat, India, compared to Singapore/Dubai; mentioned as a jurisdiction open to foreign currency transactions, potentially favorable for crypto and Bitcoin activities.
- Binance: Crypto exchange re-entering India; global leader, complied with FIU regulations to resume operations after pauses.
- Coinbase: Crypto exchange planning re-entry to India with FIU approval; US-based Nasdaq-listed platform, seeking to expand after previous operational halts.