ðŸ‡ðŸ‡° LATEST: Hong Kong gaming firm swaps $49M worth of Ether in treasury for Bitcoin
With the latest acquisition, Boyaa Interactive has 3,183 #Bitcoin in its stash, up from 2,635 at the end of September.
Discussion
I heard somewhere that 50% of ETH is staked BTC? like eBTC or sBTC or whatever other liquidity locked "staking" BS there was.
Ultimately, people bought BTC in 2021, without a real understanding of "how does this make money" and indivduals saw this op and created smart contracts on Ethereum that offered insane APY returns. Thus, BTC holders would move their money into these contracts.
IMO that would make BTC upwards of ~65% to 70% of total market share instead of the current ~57% .
I mean, simply filter out the shitcoins and liquidate the contracts and that money flows back into Bitcoin