🚨 METAPLANET'S @DylanLeClair ON WHY SMALLER BITCOIN TREASURY COMPANIES ARE FAILING:
"On a long timeframe, five to ten years, if Bitcoin doesn't go up and doesn't appreciate, then the thesis of all these companies was wrong."
But then he reframed the current situation:
"Bitcoin's a 50 volatility asset. To say that on any 12-month timeframe it's only gonna go up, or that a 50% move changes your thesis, is wrong."
The companies folding right now did not lose because Bitcoin failed.
They lost because they built their business on a 12-month assumption about a 50 vol asset.
"On a long timeframe, five to ten years, if Bitcoin doesn't go up and doesn't appreciate, then the thesis of all these companies was wrong."
But then he reframed the current situation:
"Bitcoin's a 50 volatility asset. To say that on any 12-month timeframe it's only gonna go up, or that a 50% move changes your thesis, is wrong."
The companies folding right now did not lose because Bitcoin failed.
They lost because they built their business on a 12-month assumption about a 50 vol asset.