Mark MossChief Bitcoin Strategist Satsuma | Partner BTCOppFund | ArchLending | BlockwareTeam | 100M+ YouTube

How BTC Treasury Companies Outperform Bitcoin

2 Jun 2026 · 0 min

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Mark Moss explains how Bitcoin treasury companies can beat simple Bitcoin holdings through leverage. If a company borrows 30% against its Bitcoin to buy more, it captures larger gains when the price rises. Operational excellence and smart management let these companies trade at multiples above 1x the underlying Bitcoin price.

If you buy a Bitcoin and I buy a Bitcoin and Bitcoin 10x's, who makes more money? Same. Same. If I borrow 30% against my Bitcoin and buy more Bitcoin and you don't and it goes up 10x, who makes more money? You. Why? Because you've leveraged it. Leverage, right? So that's just basic math. So why would a Bitcoin treasury company trade for more than 1x? Because they're applying operational excellence, management, and leverage.