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@ 𝕞𝕪𝕡𝕒𝕥𝕙𝕥𝕠𝕗𝕚𝕣𝕖
2025-05-23 17:17:36
I understand they get the debt almost interest free and dilute shareholders. So it is basically risk free as long as bitcoin keeps going up as the bitcoin on balance sheet increases the company value. Which I'm sure it will.
The risk is trusting a 3rd party. Mara are a large bitcoin holder but they dilute the shareholders and extract the value for themselves.
The other risk is, that they have no real business activities. So what is the point to hold them over owning bitcoin yourself? They have no revenue or provide any value.
Just like for people, I do believe (real) businesses should have bitcoin treasuries though, it can ony give more positive effects long term.