Transforming Bitcoin Volatility Into Institutional Grade Credit | Risk World 2026

In this video, Jeff Walton shares insights from over 12 years of experience as a Balance Sheet Volatility Manager.

Recorded at Risk World, this presentation explores the surprising parallels between traditional insurance balance sheet risk management and Bitcoin balance sheet risk management.

The key difference? Bitcoin operates with fully observable, easily accessible, and real-time data, a powerful feature that changes how risk can be understood and managed.


Timestamps:
(0:00–0:46) Background in reinsurance and risk
(0:46–1:13) How this work changed his perspective on risk
(1:13–1:37) Bitcoin as digital capital
(1:57–2:42) Insurance, reinsurance, and volatility reduction
(6:54–8:08) Turning Bitcoin volatility into a credit instrument
(13:50–15:38) Risk modeling, experience rating, and Monte Carlo analysis
(17:21–20:06) Monetary debasement and digital credit
(20:06–end) Digital credit vs. catastrophe bonds

Disclaimer: The content in this video is for informational and educational purposes only and should not be considered financial advice. We are not financial advisors, and you should consult with a qualified professional before making any financial decisions. All investments involve risks, and you are responsible for your own decisions.

True North does not intend for anything herein to be considered an offer or sale of any securities, including those of Strive. True North encourages listeners to consult with their tax and investment advisors. Additional information on any securities or issuers referenced herein can be found in such issuers’ filings with the Securities and Exchange Commission (“SEC”), including any registration statements, prospectuses and prospectus supplements for each issuers’ securities. Listeners should read such documents and other documents incorporated by reference therein or that such issuer has filed with the SEC for more complete information. You may get these documents for free by visiting EDGAR on the SEC website at [www.sec.gov](http://www.sec.gov).*

Any securities referred to herein, including those of True North’s parent Strive, are not collateralized by underlying bitcoin holdings and may be subordinated to senior claims. There are no guarantee of returns liquidity or future performance. The securities referred to herein are neither bank deposits, nor FDIC insured, nor regulated in the same way, and do not have the same regulatory and other protections as bank accounts, money market funds, treasuries, or similar investments and as a result may not be comparable investments. Current trading prices and effective yields may vary, current rates are not indicative of future rates, and in some cases rates are subject to frequent adjustments and may be significantly lower than discussed herein. Cash dividends are not guaranteed. In some cases, dividends have not been paid and may not be paid in the future. Ownership of securities referred to in herein does not confer ownership in the underlying assets, including bitcoin.