#736: Bitcoin Treasury for Business with Scott Marmoll

A practical Bitcoin Treasury playbook for private business owners: how to allocate cash, use debt or exits, secure custody, and grow Bitcoin holdings while managing tax and M&A.

Key Takeaways

Bitcoin Treasury Playbook provides a four-part, actionable framework: make the case, initial steps, custody choices, and M&A-ready checklists for private businesses and boards.
Use dollar-cost averaging (typical 6–12 months) or lump-sum purchase based on runway, seasonality, and stakeholder buy-in; protect working capital to avoid forced selling.
Accelerate accumulation with private credit, leverage, or partial exits; plan M&A well in advance, consider rolling into PE, and model tax-efficient outcomes before selling.
Adopt robust custody and governance: multisig or hardware wallets, documented key rollovers, Bitcoin-only advisers, and upfront tax and legal planning for transactions.
Set a written playbook and communicate it to stakeholders to withstand volatility; time-in-market and disciplined execution beat reactive timing decisions.
Invest in AI and operational efficiency to increase free cash flow—justify AI spend by measurable ROI; examples show material G&A savings that can fund Bitcoin purchases.

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