Last week, I posted Digital Asset Treasury companies and mNAV premiums (part 1: overview + bull thesis). I’d obviously encourage you to read that post for background, as in today’s post I want to build on that post and dive into why I don’t think these companies should trade for a premium. And, if you missed part 1, I’d encourage you to sign up to not miss any more posts going forward:
Bitcoin does not seem to have developed a "use". Ether may be on the way to doing that through tokenization. In that case it would need to be treated differently as it would be a "currency".
You link to the wrong WLFI token. The correct one trades at circa 20c. (Search on coinmarketcap to find the correct one)
Very interesting takes
Great post. It had to be said.
Bitcoin does not seem to have developed a "use". Ether may be on the way to doing that through tokenization. In that case it would need to be treated differently as it would be a "currency".