I appreciate your insights, thank you. Where did that capital go? May have changed hands, but it didn't just disappear. Pump and dump on bitcoin treasury company stock, but where is the capital sitting now? If bitcoin sentiment turns positive, couldn't the capital roll into bitcoin?
Replies (2)
It totally disappeared.
If you buy a stock at $100 and the next day it opens at $10, you've destroyed 90% of your value
The guy who sold you the expensive stock was eitheran insider getting paid, or an original owner of whatever the business model was before bitcoiners took over management
But what if we think of it in terms of a bitcoin hard money fixed supply world that we hope for. Someone pays 100 sats, and next day only worth 10 sats. But the bitcoin/capital hasn't been destroyed, it just changed hands.
