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. View quoted note →

Sadly buying cold sats seems controversial these days. But the same thing happened with gold so it's an inevitable playbook

Yes. Buy what Saylor buys, not what he sells.

I buy stonks once I have enough sats 😇👍 (Spoiler, I can't get enough sats)

I bought some .. and it is the best reminder for be humble and stack sats

This tells you what you need to know about saylor and treasury companies in general. They are attempting to take something pure bitcoin and rewrap it into another fiat scam.

Rational choice is holding sats, not stonks, just like choosing red meat over grains.

Where do you put in foreign debt in case you have access to it, which you cannot deploy into btc cold storage?

I don’t see any controversy in earning bitcoin or exchanging dollars for it.