pull down to refresh

Reitar Logtech Holdings Ltd., a Hong Kong-based firm operating in real estate and logistics technology, has officially announced plans to purchase up to $1.5 billion worth of Bitcoin. The move was disclosed in a June 2 filing with the U.S. Securities and Exchange Commission (SEC).
this territory is moderated
100 sats \ 1 reply \ @optimism 2 Jun
Here's the actual Exhibit 99.1 that BM nor their linked source cared to share:
reply
I had to read this sentence 20x but I can't help but conclude that they're not exactly "purchasing", but they are diluting existing shareholders for USD 1.5Bln worth (emph mine):
would provide the Company with the right to purchase a certain number of BTCs held by the BTC Investor for issuance of a certain number of ordinary shares of the Company to be calculated based on the average price of BTC and the average market price of the Company’s ordinary shares at the relevant time.
This means that they're printing shares to sell and then buy BTC. What's interesting to me is: who's the counterparty that's willing to spend USD 1.5Bln to buy Reitar shares? Their total mcap is 296.61M right now lmao.
reply
I'm the only one that doesn't like companies buying so much Bitcoin?
reply
No. I'm 200% with you on that. However, Bitcoin is for enemies: we just have to ensure their eventual demise and buy cheap sats.
There's this little voice in my head that keeps reminding me that the gold standard failed when one party was guaranteeing it and everyone else was printing like there was no tomorrow. We're going to have to succeed where the US failed. We're going to have to defy all the shitcoiners including these clowns, Saylor, Trump's entire family, Blackrock, Sberbank, and then we'll have to defy all the big banks and final sub-boss the Fed. If we survive that all we need to do is defy every government on the globe.
But all this is okay, because Bitcoin is for enemies.
Are you ready to face your enemies?
reply