Thread

Bitcoin treasury companies’ investment thesis boils down to: ‘We’re buying Bitcoin, so you should invest in us.’ However, this raises the question: Why would I take on additional risk by purchasing equity (or debt) in the company instead of simply buying Bitcoin myself? View quoted note →

Indeed...

Ahem… alt coins, you say?

Or: future bitcoin backed ecash mints with proof of reserve (not saying I like it) My prediction: Tether will eat Dollar Bitcoin/ecash will eat Tether Hope we will run hundert thousands of smaller and decentralized bitcoin backed ecash mints.

Cashu treasury reserve next?

“Why buy BTC when you can buy MSTY” View quoted note →

Totally

Fact

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Or Centralized authority in a decentralized world.

Devs that create literal altcoins in the form of ecash tokens don’t have the moral high ground to say this. Some (maybe even most) of these companies might end up being shitcoin companies that will play the fiat ponzi games, but bitcoin on the balance sheet of companies is literally the early stages of hyperbitcoinisation. Let’s all remember that many early adopters of Bitcoin also didn’t hold their own keys, until Mt. Gox taught them that lesson the hard way. There’s no reason to expect different behaviour from corporations at this point. View quoted note →

And so called "bitcoiners" simping for these companies are the new shitcoiners. They must be ridiculed.

That's right 🤷‍♂️😉

I get your meaning. However, they are more of the new Atlantic Computers plc. (Then again, its more complicated than that.)

💯

I did appreciate Stacy saying , "Buy Bitcoin, not he proxies" during her and Max's presentation at Bitcoin 2025 last week.