alanbwt on Nostr: The market appears to be discounting all Bitcoin treasury companies to 1x mNAV or ...

The market appears to be discounting all Bitcoin treasury companies to 1x mNAV or lower, which makes sense given Bitcoin owned by treasury companies is often encumbered by debt, dividends, and other obligations.

Whereas Bitcoin in the wild is free, unencumbered, able to move anywhere on Earth in ten minutes without anyone’s permission.

quoting
nevent1q…7jw2

It is rational for Saylor to want to buy Bitcoin himself and sell stonks to you.

The important question is whether it is rational for you to buy his stonks instead of cold hard sats.