Reduced outstanding debt by approximately $45 million through the monetization of a portion of its Bitcoin holdings and Bitcoin-related derivative positions. The repayment was funded through the sale of approximately 600 Bitcoin and Bitcoin-related derivative positions, generating approximately $48 million net proceeds.
Got the SCAM?
Every couple days we hear of another treasury company selling
Yup leverage is killing these companies
More cheap sats for me.
Haha
What will become of these companies? Will they be sustainable over time?
Sure if they figure out a business model that isn't simply holding Bitcoin or financializing it.
Hopefully one of them will become a Bitcoin only custodian for etfs and institutions so they can diversify away from coinbase.
Max pain bear market. But pay down debt today for a better future tomorrow