Bitcoin treasury companies, despite being a very stupid idea are incredibly bullish for Bitcoin (long term) by virtue of showing that the old orange coin can still generate massive amounts of religious hallucination.

Pragmatism (Security) at OP Labs.
Prev: ConsenSys & Coinbase.

Attribs: Friendly, curious, introverted, mid-witted.
Chans: /eth-security /maurelian /stoicism




It’s not that holding bitcoin is stupid, so much as the idea that it is a viable business model for hundreds of companies, and that their stock should sell at a multiple of the underlying assets.

Ah, so you don't mean companies that use btc as the treasury asset, but rather companies that make this their main purpose?

🚨JUST IN: 🇺🇸 DDC Enterprise announces closing of its $528 million financing to advance #Bitcoin Treasury Strategy. 

$26m PIPE, $25m convertible notes (up to $275m), $2m private placement ($200m equity line of credit.) https://t.co/H7f8zDvGi9

It's interesting that every day there is yet another company that announces it's going to be a Bitcoin (or increasingly other coins) Treasury Company, and the stocks get an instant insane surge. And yet the coins themselves haven't been doing anything special.

Joe Weisenthal

yeah, exactly. Some context: https://x.com/TheStalwart/status/1940397131313164567