Now I see why I got dumped on when I bought SPAC shares. Most of the outstanding shares are with insiders and VC. Institutions only have 1.13%.
If fold can demonstrate crazy growth Wall Street will come in droves trying to own this stock. But if more insiders and VCs sell more pain is coming for us retail who bought into the company early.
But in Bitcoin per share value metric. Fold is ahead of 99% of Wall Street (including Visa, Apple, Google)
Ten31 did the same thing with Grid mining. Then you realize why Matt and Marty are so committed to building trust with plebs using podcasts and appearing to be great philanthropists "helping" fund busybody developers with OpenSats.
Wait Marty/Odell are dumping on retail via ten31? That makes me sad.
Kill your heroes ðŸ«
🤔
I believe the recent Mallers Cantor Fitzgerald SPAC may have a similar situation, according to what someone was telling me.
Yep staying away from that for now
It seems that the ownership distribution is quite centralized...
Can’t beat spot Bitcoin for risk reward!
Yeah, SPACs can screw retail investors. If Fold grows, Wall Street will jump in, but if insiders sell more, we’re screwed.
But, if you’re looking at Bitcoin per share, Fold's ahead of the big guys like Visa and Apple. That’s promising if it hits.
Insiders and VC often have limits and schedules for them to be able to sell. Since the SPAC implosion institutions have stayed away so I’m surprised it’s actually over 1%.
Was Fold worth at the time $12/13 a share no but was it work more than $2.50 it fell to hell yeah. Growth has continued to climb the credit card is coming I mean they have really built this to easily succeed under this admin.