๐ฆ Is Strive's profit real, or just a paper win? ๐ค
$BTC
1๏ธโฃ The profit is almost all unrealized bitcoin gains, while operating revenue is only about $2.7M ๐งพ (The Block)
2๏ธโฃ 28,000 BTC is what Strive held at quarter-end. It bought 8,136 BTC in Q3, then 15,124 more in October ๐ช (Cointelegraph)
3๏ธโฃ October buying was funded by a $609M preferred stock offering with a 15% annual dividend ๐ธ (Cointelegraph)
๐ก [โ๏ธ your analysis here]
โ ๏ธ Preferred dividends cost about $34M a quarter, and the nine-month result for common shareholders is still a loss ๐ (KuCoin)
Does a profit built on unrealized gains tell us anything real about the business? ๐
๐ Follow for more crypto treasury breakdowns ๐
#HKSFCPlansToRestrictCryptoAndExchangeTerms #JobsReportRaisesHikeOdds #WillUS-IranTensionsBoostSafe-HavenDemand?
$BTC
1๏ธโฃ The profit is almost all unrealized bitcoin gains, while operating revenue is only about $2.7M ๐งพ (The Block)
2๏ธโฃ 28,000 BTC is what Strive held at quarter-end. It bought 8,136 BTC in Q3, then 15,124 more in October ๐ช (Cointelegraph)
3๏ธโฃ October buying was funded by a $609M preferred stock offering with a 15% annual dividend ๐ธ (Cointelegraph)
๐ก [โ๏ธ your analysis here]
โ ๏ธ Preferred dividends cost about $34M a quarter, and the nine-month result for common shareholders is still a loss ๐ (KuCoin)
Does a profit built on unrealized gains tell us anything real about the business? ๐
๐ Follow for more crypto treasury breakdowns ๐
#HKSFCPlansToRestrictCryptoAndExchangeTerms #JobsReportRaisesHikeOdds #WillUS-IranTensionsBoostSafe-HavenDemand?
