12월 29, 2025

✨ Bitcoin treasury stocks are becoming “distressed assets” as a $107,000 cost basis traps late entrants underwater

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The “infinite money glitch” of the corporate Bitcoin treasury has stalled. For much of this market cycle, the trade was simple: stock in companies holding Bitcoin traded at a massive premium to the underlying Net Asset Value (NAV). This allowed firms to issue expensive equity to buy chea

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The “infinite money glitch” of the corporate Bitcoin treasury has stalled. For much of this market cycle, the trade was simple: stock in companies holding Bitcoin traded at a massive premium to the underlying Net Asset Value (NAV). This allowed firms to issue expensive equity to buy cheaper coins, thereby accretively increasing Bitcoin per share. […]
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