We need another name for “treasury companies”. I own a real treasury company. That is, I own a small business that stays humble and stacks sats. We have reduced our expenses and eliminated lines of business don’t consistently throw off cash. I pay my family enough to live and the balance goes in our treasury.

Calling Wall Street leveraged gambling firms who are using fiat games to stack Bitcoin in excess of company profits is dishonest. At best they’re lottery tickets. I own some but I am clear-eyed that someone in that space is going to get wrecked this cycle.