It's pretty crazy.

To me, it just highlights how wrong the current risk free rate is on fiat currencies.

I find the PE ratios on most stocks more crazy. Look at Microsoft & Meta's chart!

The mnav premium of Bitcoin treasury companies indicates holders either:

- can't directly access the underlying Sats; or

- assume they will acquire more Sats in he future to justify the premium

I find it all quite fascinating.

Reply to this note

Please Login to reply.

Discussion

No replies yet.