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I agree with the substance of your statement. It's on any investor to do their own due diligence. However, I also am willing to revise my estimate of Metaplanet's leadership's character from ambivalent to negative. Just because the details were available doesn't mean that they did good job of making it clear to investors.
I found pledditor's take here fairly good:
When investing, I put a fair bit of emphasis on the people involved in the deal. I had no previous data points for Leclair, now I have one.
Ehh his take sounds like the common bitcoiner who hates bitcoin treasury compaines. Hate it all you want but calling people scammers because they buy a stock and lose money on its is a reach for me. Stocks carry risk no one is forcing anyone to buy anything. If people don’t do their research and understand that investing comes with the potential of loss then they have to take the good with the bad. This is far from what shitcoiners are doing. Besides bitcoiners get caught up in share count but miss the overall mission of stacking a scarce asset. Not like these guys told metaplanet to dump their bitcoin. Far as I can still they still own a ton of BTC and bicoiners are crying about share counts.
I hate posts like this. Before these guys cooked up this scheme to fatten their pockets on the back of Bitcoin via a dead public company no one even heard of metaplanet. Now they have a little success the compensation package that was approved by the meta planet board is now a scam???
Man get outta here. As someone who’s buys stocks i wholeheartedly know shares can be printed out of thin air and dilute me. The whole point why these companies go public is to sell shares!!
This guy getting mad at $600M being pocketed is the same energy we will all face once bitcoin is like $5M a coin. We all took the risk and it worked out. This guy took the risk and if this idea failed his career could be over.
If bitcoiners are about free markets and this was done within the rules why cry about it. Stop buying stocks hoping to get rich!!! Buy Bitcoin and chill.