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That’s basically a cousin of the trapped capital idea, right?
There are bitcoin believers who command a lot of capital that can’t easily be put directly into bitcoin, so they pay Saylor to do it for them.
More like custom/custody/bitcoin-wrapped-in-SEC-regulated-equity
Yeah. But it doesn't explain the premium, because they could buy more "bitcoin" for their buck through the ETF.
Then it might belong in my bubble category. Time will tell.
That’s basically a cousin of the trapped capital idea, right?
There are bitcoin believers who command a lot of capital that can’t easily be put directly into bitcoin, so they pay Saylor to do it for them.