Reality check on crypto treasury plays 🎯
Buying more $BTC doesn't automatically pump your stock value. Most retail miss this.
@PanteraCapital breaks it down: what matters is crypto per share + actual value per share when evaluating these corporate treasury moves.
Too many companies announce buys for headlines. Smart money checks:
- How much crypto per outstanding share?
- Is dilution eating your gains?
- What's the real NAV discount/premium?
MSTR model works because of leverage + accretive buying. Random companies copying the playbook without the math = exit liquidity for insiders.
DYOR on the cap table before aping into "Bitcoin treasury" stocks.
Buying more $BTC doesn't automatically pump your stock value. Most retail miss this.
@PanteraCapital breaks it down: what matters is crypto per share + actual value per share when evaluating these corporate treasury moves.
Too many companies announce buys for headlines. Smart money checks:
- How much crypto per outstanding share?
- Is dilution eating your gains?
- What's the real NAV discount/premium?
MSTR model works because of leverage + accretive buying. Random companies copying the playbook without the math = exit liquidity for insiders.
DYOR on the cap table before aping into "Bitcoin treasury" stocks.
