⚡️🇺🇸 NEW - CNBC reports that Bitcoin isn’t rallying despite bullish conditions because investor demand is shifting from spot Bitcoin to Bitcoin treasury companies.
https://blossom.primal.net/a6d04f5d332645f2f1ec66cf7bbe12ba805c3c7e4302e21ca549bbf29b91e753.mp4
If they trade at premiums (which I'm pretty sure they do) then it kinda makes sense.
Seems unlikely mstr is the biggest accumulatror and they're selling both stocks and bond or preferreds for it. I dont have the exact numbers but at least some of that was money that was locked out of buying bitcoin.
The even bigger elephant's ibit and they got giant flows
Unless you think its paper bitcoin, they must have pulled in way more money into bitcoin than what retail would have otherwise.
Are miners really operating at such narrow margins? Any link where I can check more stats about the mining costs ecosystem? Cheers
Treasury companies are distractions. I'm buying on Strike while I investigate how to move things to self-custody via the Lightning network.
