Jeremy sits down with Russ Jacobsen, COO of Moon Inc., a Bitcoin treasury company listed in Hong Kong (HKEX: 1723). Russ spent nearly two decades in traditional finance across Hong Kong and Shanghai — all while secretly mining Bitcoin on the side. Now he's building one of Asia's Bitcoin treasury companies from the inside.
They trace his path from Bay Area skater to Shanghai real estate hustler to Hong Kong TradFi banker, and how a closet Bitcoin habit (30 ASIC machines bought in 2013–14, next to BitMEX founder Arthur Hayes at Deutsche Bank) turned into a full pivot. From there, they unpack what a Bitcoin treasury company actually is, why "just put Bitcoin on the balance sheet" isn't enough anymore, the free-cash-flow secret behind Saylor's first lever at MicroStrategy, and Moon Inc.'s own strategy — including a new treasury vehicle launching in Vietnam.
They close on global capital flows, Saylor's STRC and the emerging Bitcoin yield curve, and why Russ still says: this is the year to buy Bitcoin.
⏱️ Timestamps:
0:00 Cold Open — “The Closet Cypherpunk”
1:01 Welcome to Redefined + Meeting in Hong Kong
3:01 From Bay Area Skater to Shanghai Real Estate Hustler
9:01 Back to Hong Kong: TradFi and the ICBC/CCB IPOs
11:01 What Is a Bitcoin Treasury Company?
12:01 Gold Bug to ASIC Miner: Russ's Bitcoin Story
15:01 China's Mining Crackdown and Hong Kong's Crypto Hub Era
19:01 Leaving TradFi for Full Bitcoin Maxi
25:01 Global Capital Flows and Entering Harder Markets
33:01 Digital Credit, the Bitcoin Yield Curve, and Buying the Bear
39:01 Where to Find Russ and Moon Inc.
🔗 Follow the Guests:
Russ Jacobsen – LinkedIn | X | Substack
🎤 Follow our Hosts:
Jeremy Almond – Twitter
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