i dreamed I was discussing Bitwise OWNB ETF at a dinner party.

With a group of people who weren't interested. A woman in an orange dress sat down, and I dropped the shocker:

"if the MNAV goes above 3, that would mean bitcoin holdings are less than 33% of the value of the company. The company might drop from Tier 1 to Tier 2." or a maximum 20% weighting to a 1.5% weighting until their MNAV collapses below 3 again.