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Further explorations at the frontier of Bitcoin Treasury Companies

745 sats \ 4 comments \ @Scoresby 22h bitcoin

Back in July, when the Treasury Company joy was in full swing, I found myself wandering around the back corners of that fervor and ended up reading about a Chinese recipe website that had somehow turned into a treasury company (#1052926).

Ha ha! Good laughs and all that. I thought it exemplified the frothiness of the landscape and I cocked my eyebrow at the whole thing.

It turns out they have 1000 bitcoin now

from BitcoinTreasuries.net

I was looking for more information about someone involved in the company when I came across this surprising interview with the company's CEO:

It's about half an hour long. She makes a pretty reasonable case for why the bitcoin treasury thing works for her company and I guess I'm impressed.

While the company started as a recipe website, it actually now owns a number of different food brands and has fairly large sales in China. Apparently they are going to explore using bitcoin rewards. Bitcoin is an ever surprising world.

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102 sats \ 1 reply \ @optimism 1h

I listened to a whole 5 seconds then I shut it off, lol.

"What Better Brand To Collaborate With Other Than Bitcoin?"

Yeah, that's called association scamming. If there is a future, and I personally think there will be, despite all the scams, will history really be nice upon those forwarding the assertion that you're associated with Bitcoin because you bought some off an OTC desk, with investor money from your printed stonks?

100 sats \ 0 replies \ @Scoresby OP 1h

I think I was surprised that they ended up with any bitcoin at all. when I originally heard about them it reeked so badly of scam, I was a little pejorative in my writing.

I'm still very curious how these kinds of companies are holding their coins. My assumption is on an exchange or with a custodian like Anchorage. But I wonder if any will buck that trend.

102 sats \ 0 replies \ @DarthCoin 22h

Nice investigation, as usual. But do not get drunk with their water.... DDC is a front company, a scam.

ALL of these "treasuries" in the end are like this:

If a company really want to be in Bitcoin, is so fucking simple:

All the rest is total bullshit.

Like Motorhead said: don't believe a word...

0 sats \ 0 replies \ @BlokchainB 8h

First 1,000 next up is 5,000