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86 sats \ 2 replies \ @denlillaapan OP 13h \ parent \ on: The Bitcoin Treasury Trade Unravels (Bloomberg Money Stuff, Matt Levine) econ
no, at 1.25 mNAV Strategy is roughly a proxy for bitcoin exposure (the prefs and converts act as low-level leverage).
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0 sats \ 1 reply \ @byzantine 12h
am i wrong in my math? paying a 25% premium means an expectation that you think you will get back 25% at some future date?
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0 sats \ 0 replies \ @denlillaapan OP 11h
yes, that's wrong. And also not what I was saying.
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