Notes9 Jun 2025 11:08
finally got around to listening to spaces. i would recommend everyone listening to it, as it was the best one so far:
https://x.com/wrightmanaim/status/1929903589360550393
my notes:
spaces #3 - 1.3k have listened to it. (spaces #2 had 1.2k, and spaces #1 had only 751 listeners). good to see this pattern of increased interest.
james was on a break, but took time out to join the call, shows his commitment. seems he would like to give more detail on growth plans but malcolm was keen to ensure this sort of info came via proper news channels rather than on spaces.
peter lane of jacobee asset management (https://x.com/peterlane1985) joined the call. was interesting to get his thoughts on fca/regulation around bitcoin etfs and etns. not directly related to consilium, but relevant to the investment landscape. the recent fca news regarding reversal of etn's ban is followed by a 4 week consultation period, so he thinks the first etn's/etp's might come in summer. everyone happy with this change in landscape.
swc has a number of weeks lead and they are clearly aware of this. i don't think they see it as a direct competition but they do want to put some distance between themselves and future new entrants.
they are aware of comments in telegram groups/etc so they are clearly getting sight of shareholder views.
they are well aware of the 8mil euros retail raise cap and have planned accordingly with this in mind.
forza gives them full optionality.
likely to get next news item later this week i think he said.
they are well positioned to appeal to institutional investors and have a prominent fund on the books - compliancy and governance important to funds and they are covering this side.
retail ahead of instis in driving growth in this space.
company has been in space for 10 years which is attractive to investors.
bitcoin only in forza treasury - not other coins.
**************s - can't share whether they are or are not doing anything as it would be market sensitive news. he did say as you grow your have more options and they'll do whatever is best for shareholders (personal note, i wonder if they'll go to nasdaq and/or lse mainmarket down the line).
all current growth is coming from forza, all attention on forza. other items (eg yellow etc) ticking along in the background and not requiring much attention, but it is clear bticoin treasury is what they are forcussed most heavily on.
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