Steven Lubka ☀️
@DzambhalaHODL • 35,550 subscribers
VP of Investor Relations @nakamoto | frmr Head of Private Wealth @swan | Founder @vibecapitalmgmt Walks 350 miles per month, Praise the Sun ☀️
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Bitcoin Treasury Companies: Trojan Horse by American Hodl
Steven Lubka ☀️203,480 Aufrufe • vor 11 Monaten
Most people think about Bitcoin treasury companies incorrectly Here is why I think they are good for Bitcoin & why they are misunderstood: 1) Treasury companies are capitalizing the Bitcoin industry for a century to come 2) They are future Bitcoin Banks 3) However, they are developing in the reverse order compared to everything else - monetization first and then later on core business activities -- Bitcoin has traditionally received $1 for every $100 in funds that Crypto took in - it has historically been challenging to raise money for Bitcoin focused businesses. My view is that Treasury companies are changing this, and while the first phase will simply be acquiring as much Bitcoin as possible - they will later need to ensure the value of Bitcoin grows and find ways to use BTC as capital in a larger marketplace. These firms will become the future Bitcoin Banks and also Bitcoin conglomerates. In this exact moment in time the best use of capital is simply buying Bitcoin. It's hard to meaningfully outperform BTC, and as such all these businesses will do for a while is acquire BTC. But eventually that shifts, and these firms will see more incentive to both grow and deploy Bitcoin. They then will provide capital which, among other things, supports Bitcoin businesses and projects. Many people struggle to contextualize the current "land rush" phase with what will come later. You need to take a longer view to understand these firms. The order of operations is also reversed here. Typically you build a business or technology and then as a final step monetize it via an IPO. With Bitcoin, stage 1 is looking more like direct monetization prior to creating value via products, etc. This is deeply counter intuitive to many people in traditional finance, and also to many Bitcoiners. However, because Bitcoin is primarily money at a base level it makes sense the developmental path it is taking differs significantly from other tech. The amount of time it will take for other investors to understand this presents an opportunity for those who see it sooner. More thoughts below 👇
Steven Lubka ☀️29,280 Aufrufe • vor 1 Jahr
The only thing which matters for markets right now is the Trump administrations policy- what do we know and what is their plan? How long are they willing to tolerate the stock market going down? Is there a timeline where they step in to support it? I explore all of that here👇
Steven Lubka ☀️14,411 Aufrufe • vor 1 Jahr
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