next 20k BTC on the move..
seems that OGs need fiat..
Awkward to see BTC dump against shitcoins
They invest in treasury companies, perhaps, thus amplifying their stash, effectively, ...or so it seems...at least Adam Back just did it with 30K btc.
how would that amplification work?
See my prior post (a page or two back), but in short: treasury companies are trading at a premium to their btc net asset value (NAV) because they can raise additional funds.
This is the whole "game" of M. Saylor.
MSTR has about 76% premium to NAV (was as much as 200% beforehand).
Let's say, AB contributes 30K btc at 117K. This is $3.51 bil and then company raises 800mil in addition (to buy btc). AB would have 81.4% equity in the company, but the company might trade (if at MSTR premium) at 4.31X 1.76=7.586 bil, therefore his "portion" of the equity would be 6.174 bil, thereby he almost immediately "makes" 6.174-3.51=$2.66 bil.
On paper, of course, but you get the point. Metaplanet at some point had 6-8X over NAV, so my numbers are conservative.