Big picture27 Jun 2025 10:59
1. Mellon has been steadily increasing his holding
2. We have been seeing a slow-down in the number of shares Mellon can pick up
3. When there is a pump-and-dump, some LTHs sell, and the shares can ultimately make their way back to Mellon
4. Ed's tweet about BTC Treasury is clearly designed to support a pump-and-dump approach
I don't get how Ed's critics can still be so naive to this. Ed is working for Mellon, not for you. He is doing a good job of transferring a bunch of hugely undervalued shares to the biggest holder, who will then be in control of assets worth far more than he paid. His approach isn't about yield, it's about who owns the differential between SP and MCAP.
The guy's doing his job.