Stupid season: we are the microstrategy of token xyz

StablecoinX Inc. @stablecoin_x has announced a $360 million capital raise to purchase $ENA and will seek to list its Class A common shares on the Nasdaq Global Market under the ticker symbol "USDE", which includes a $60 million contribution of ENA from the Ethena Foundation https://t.co/sgfD8P9m05

A 2021-vintage SPAC formed to buy biopharma companies announced in May it wanted to be the MicroStrategy of ENA. Here we get to see the terms (next tweet)

PaperImperium

Stupid season: we are the microstrategy of token xyz

https://x.com/imperiumpaper/status/1947310424963129432?s=46

Not the biggest fan of blockworks but even they notice.

Sometimes companies do stuff initially for solid reasons or in smart ways but it quickly wears off with copypasta players.

Microstrategy is smart about raising money.

Some other bitcoin vehicles are less smart but still make sense to jump on the bidding train in a globally somewhat accepted asset.

ETH can be a serious btc challenger and their treasury vehicles have onchain opportunities to make money & get better fundamentals (lending; staking).

Random buying Vehicles for token xyz are quick pump & dumps; rather diluting one off buying events - often discounted to public price &or with lock-ins and either token investors or stock investors get seriously fucked.

“But hey it can pump, right?”

It’s interesting how much more brazen the treasury vehicles are vs GBTC.

Extremely similar mechanism, end result will be as well.

Last time though it was kind of hidden, this time we all know it… but are more ok with it?

Weird vibes.

Mippo 🟪

1️⃣Btc “just” got a crazy Saylor.
2️⃣Btc “just” got stupid copycats.
3️⃣Eth “should just” do the same - with better fundamentals if they lend & stake.
4️⃣Xyz “just” gotta launch a microstrategy too to pump.

We’ve reached stupid very soon but why not launch another 1000 stock vehicles to either fuck over token or stock investors?

1️⃣Btc “just” got a crazy Saylor.
2️⃣Btc “just” got stupid copycats.
3️⃣Eth “should just” do the same - with better fundamentals if they lend & stake.
4️⃣Xyz “just” gotta launch a microstrategy too to pump.

We’ve reached stupid very soon but why not launch another 1000 stock vehicles to either fuck over token or stock investors?

https://x.com/pratikkala/status/1947552731750928665?s=46

Not the biggest fan of blockworks but even they notice.

Sometimes companies do stuff initially for solid reasons or in smart ways but it quickly wears off with copypasta players.

Microstrategy is smart about raising money.

Some other bitcoin vehicles are less smart but still make sense to jump on the bidding train in a globally somewhat accepted asset.

ETH can be a serious btc challenger and their treasury vehicles have onchain opportunities to make money & get better fundamentals (lending; staking).

Random buying Vehicles for token xyz are quick pump & dumps; rather diluting one off buying events - often discounted to public price &or with lock-ins and either token investors or stock investors get seriously fucked.

“But hey it can pump, right?”

https://x.com/mikeippolito_/status/1947647885904122113?s=46