Throwback Thursday of to one of the worst takes of Paper Bitcoin Summer
Matteo Pellegrini ⚡️
Matteo Pellegrini ⚡️Mar 19, 21:33
i will never understand why people think that a business that does nothing but hold bitcoin should be worth more than the bitcoin itself (positive mnav)
And mind you, he said this while acting as the Investor Relations of a BTCTC that was trading at over a 10x mNAV. While telling people the BTCTC market was showing no signs of froth. While doing his Paper Bitcoin Summer campaign. While knowing NAKA's PIPE unlocks at Summer's end
And mind you, he said this: -While acting as the Investor Relations of a BTCTC that was trading at over a 10x mNAV. -While telling people the BTCTC market was showing no signs of froth/unsustainability -While creating the "Paper Bitcoin Summer" campaign -While knowing NAKA's PIPE unlocks at Summer's end That's I consider him to be one of the most unsavory figures of that whole saga. Either he was intentionally malicious, or he's just that dumb. And I don't think he's dumb.
And mind you, he said this: -While acting as the Investor Relations of a BTCTC that was trading at over a 10x mNAV. -While telling people the BTCTC market was showing no signs of froth/unsustainability -While creating the "Paper Bitcoin Summer" campaign -While knowing NAKA's PIPE unlocks at Summer's end That's why I consider him to be one of the most unsavory figures during that whole saga. Either he was intentionally malicious, or he's just that dumb. And I don't think he's dumb.
@Fundamentals21m BTW, I am not talking about "how things should be". I'm talking about how things actually are. Investment trusts have 100 years of established history in the capital markets. Just because they are holding bitcoin instead of real estate does not change anything fundamentally.
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