RE: Bitcoin below their buying average...26 Sep 2025 07:20
Billy, I know you were asking someone else, but my view is that they wanted to jump onto the Crypto Treasury bandwagon but they actually jumped into the fizzling of it instead, after leaving it too late. They wanted to generate a meaningful sp uplift from the BTC news but that didn't happen.
The Maths itself don't make sense in that BTC would have to increase massively from here in short order just to compensate for the discount in the placing that got them the funds for it.
They are stuck really, as they can't sell the same BTC to engineer a buyback now as they are likely looking at acquisitions anyway, and would look silly switching tack so quickly, and as a Crypto company.
I don't think it was needed. Someone who sells sweets doesn't have to eat loads of sweets themselves to be able to sell them successfully to someone else.
Getting 2m cash to swap for 2m of a different currency of cash hasn't cost them more than 2m in market cap in the process.