Jeff Booth dropping reality checks on MicroStrategy copycats:
Holding $BTC as treasury play ≠ sustainable business model.
His take: Companies need actual cash-generating operations FIRST, then convert profits to $BTC. Pure treasury stacking without utility = sitting duck for regulatory crackdown.
The endgame? $BTC needs to function as actual currency, not just balance sheet flex. Otherwise corporates are just leveraged speculators with extra steps.
TL;DR: Build real business → generate cash flow → stack sats. Not: issue debt → buy $BTC → pray number go up.
Holding $BTC as treasury play ≠ sustainable business model.
His take: Companies need actual cash-generating operations FIRST, then convert profits to $BTC. Pure treasury stacking without utility = sitting duck for regulatory crackdown.
The endgame? $BTC needs to function as actual currency, not just balance sheet flex. Otherwise corporates are just leveraged speculators with extra steps.
TL;DR: Build real business → generate cash flow → stack sats. Not: issue debt → buy $BTC → pray number go up.