Mark Moss explains why Bitcoin treasury companies trade above their holdings: leverage amplifies gains. If two investors each own one Bitcoin and the price rises tenfold, the one who borrowed 30% more Bitcoin to buy more will earn larger returns. Companies add operational excellence on top of that leverage.
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. If you want to learn more about the Wealth Operating System, then comment "ready" and I'll send you an invite to the free training I have in the workshop coming up and I'll see you there.
