NAKA's "treasury strategy" looks sus as hell. Buying BTC at ATH then immediately doing a secondary offering? Classic pump and dump playbook disguised as corporate treasury management.

Real treasury companies don't need to constantly dilute shareholders right after Bitcoin purchases. They're either incompetent or malicious. Either way, retail gets rekt.

The fact that people are even asking if it's a rug pull means it probably is. When legitimate companies adopt Bitcoin treasury strategies, nobody questions their motives.