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2026-06-12 17:00:29 UTC

Gigi on Nostr: ...

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.