There’s a GameStop Treasury Company
Also ETF heartbeats, crypto lending, Libor transition collusion and meme-stock investment.
Well. The other day, I wrote that the “crypto treasury strategy” trade is very good, but saturated. The US stock market will pay $2 for $1 worth of Bitcoin, so lots of companies have acquired Bitcoin to make their stock go up, but the returns are diminishing. Companies have moved into other cryptocurrencies, Ethereum and Tron and Solana and BNB and Trumpcoin, but they are running out of open space. I wrote:
So we talked about a company that pivoted to holding gold: not crypto, but vaguely spiritually aligned. I speculated about other possibilities: