Nature doesn’t like shortcuts.
Physics rejects short circuits, punishes division by zero, and resists any attempt to extract value without effort, work, or resistance.
I see a parallel here—with Bitcoin treasury companies, and with arbitrage-based business models in general. Arbitrage is just the short circuit of business. It can spark—bright, fast—but it doesn’t last.
Building a business purely on exploiting inefficiencies is like building an ice castle. It might look impressive for a while, but it will melt.
Nature, on the other hand, rewards movement. It embraces change—evolution, mutation, transformation. It honors the spending of energy. It favors value creation.
Only time will tell if nature will take its course. But it usually does.
