Greater Fool Theory investment update

For those who, like me, have eschewed cryptocurrency, you might have missed the recent Bitcoin crash. 

“Digital asset treasuries were flying high this year until bitcoin's sudden October crash. Now many of those companies are sitting on unrealized losses.”

*snip*

“Over 180 public companies currently hold crypto on their balance sheets, with roughly 100 of that total having followed some version a the playbook that Strategy (MSTR) co-founder Michael Saylor pioneered in 2020 by issuing debt and equity to rapidly accumulate bitcoin.”

So, who are these “investment” geniuses?

“KindlyMD (NAKA) has tumbled 39%. Eric Trump's American Bitcoin (ABTC) is down 60%. Anthony Pompliano's ProCap Financial (BRR) has fallen 65%.

“Meanwhile, shares in treasury companies holding ether, the second-largest cryptocurrency, are down. Bitmine Immersion Technologies (BMNR), chaired by Fundstrat's Tom Lee, is down more than 33% since October's crypto sell-off as the token has fallen more than 25% in the same period.”

Time to buy low, fools.

https://finance.yahoo.com/news/crypto-winter-could-spur-darwinian-phase-for-digital-asset-treasury-companies-150010208.html

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