DDC, a Hong Kong food company, just bought 21 BTC ($2.28M), announced big plans (wants 5,000 BTC in three years), and the market nuked their stock (down 14.5% in a day). Compare that to MicroStrategy, which has gone full Bitcoin company with 580250 BTC and seen their shares run circles around the S&P500, and DigiAsia, a fintech out of Asia, which got an 80-130% stock pop on similar news.
Why? It seems that the market now sees through BTC as PR. If you’re a fintech or tech company, and you announce a credible, strategic BTC plan, market says “OK, this fits". If you’re a food company burning cash and using shareholders to get Bitcoin, market says nope.
You're basing that on what happened in one day to say that? Wait a couple of months or a couple of years and tell us. Also you would have to know the specific situation of the company, if it has a lot of debt, if its cash flow has been decreasing and things like that, but in general it is a good idea because when you buy bitcoin instead of distributing dividends or buying back shares you are backing the company with the best asset in the world, so that term you use of “burning cash” is totally biased. In reality you are exchanging a very inferior asset for the top asset that exists.