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Only a small number to the new bitcoin treasury company "managers" actually understand bitcoin and dollar-based financial plumbing like Saylor does.

And many are literally managing billions of dollars and tens of thousands of bitcoin.

It's like giving a confident five-year old the keys to brand new Ferrari and expecting a good result.

The wheat will get separated from the chaff once the good times have ended.
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DRE 5mo ago

The playbook is open source. There are no proprietary secrets. If you have a premium you do accretive dilution. If you don’t you borrow on good terms and buy Bitcoin until mnav increases then do step 1. I know there are more complex strategies being deployed by competent managers, and perhaps some not as competent.

I don’t doubt there will be companies with 50 BTC that have bad management and “blow up”, but I’m yet to see one with over 1,000 BTC

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