Not sure to be honest. They don’t have much BTC they will probably go bankrupt before they get bought out for their BTC on the balance sheet 

satgoob

they might make excellent investments for the big guys — since some of the shitty treasury companies trade at below NAV gobbling them up is like buying bitcoin on discount.

This is my bullish case for buying bitcoin treasury companies like Cathedra!

econ

Why Bad Bitcoin Treasuries Could Make the Best Investments (FT, Lex)

denlillaapan

>they might make excellent investments for the big guys — since some of the shitty treasury companies trade at below NAV gobbling them up is like buying bitcoin on discount.

This is my bullish case for buying bitcoin treasury companies like Cathedra! 