Member Info for tbcx

The problem is nobody understands the strategy. Look at other names that hold altcoins alongside btc, where they will be clear from outset what percentage they will allocate to each as they build their treasuries.

Now compare to here. They originally decided to go all in on Solana, but since then radio silence on that and nobody even knows if they still hold it. Then they said we're raising funds for a btc treasury, sounds good, sure enough share price skyrockets. But then randomly they put some of that money into Bittensor, a coin ranked outside of top 30. Then they finally start building the btc treasury, great. But then the drop a bombshell RNS shows they are actually selling the btc they've just bought??

Weird thing, there's a guy on X who's copied a couple of my posts from this board word for word and presented them as his own. Anyway at least someone else is bullish on Pnix lol.

Broker option only raised £30k, only a quarter of full take up. Lack of interest even despite all the attached free momentum killing warrants indicates investors wised up to this now.

Got a mention here as part of round up of new btc treasuries - reposted by Michael Saylor, check the view count!

https://x.com/btcNLNico/status/1946632232619196558

Agree with you, they were always going to need to execute near perfectly to justify the NAV premium, and it's fair to say they haven't. Pricing of some of their recent buys not passing the sniff test. The challenge now that's different from even a couple of months ago is they've now found themselves competing for capital with some promising up and comers valued at a fraction of this.

Agree with you VernetLes, considering we even see some of bigger names like Ldn btc priced at 8x NAV without the decent underlying business, value down here a bit insane by comparison.

As well as Eth focus there is also System7 business and more in pipeline. Even on an mNaV basis this was cheap vs others, then you consider most of those other treasuries don't even have viable operating companies - this is will really now start to stand out from the pack.

They could not have a chosen a better time to focus on Eth, initial buys looking very well timed.

Somebody can correct me if I'm wrong, but I'm not aware of any other UK crypto treasury stock with as large a % of their portfolio allocated to Eth. Nobody else comes close. With the kind of moves Eth is seeing, makes this uniquely positioned.

There is an awful lot to like here. With the sheer newsflow we are seeing, coupled with the Eth run that's unfolding, it's become clear this valuation is now scandalously low.

Exactly Guly

Every btc treasury raises to fund crypto purchases. The whole model is equity for btc. The forthcoming meeting is a technical exercise to give them flexibility to implement the policy as currently at allotted limit. What is absolutely unique about this treasury is that market cap is only £700k.

All of this PLUS there's they've just a launched btc/crypto treasury policy and have started acquiring.

This is where you start wondering about extent of auditing on something as lightly regulated as Aquis, especially one with only a couple of employees. Clearly they'll have to demonstrate to auditors at end of each financial reporting period overall crypto holdings, what it less clear is whether that extends to history of individual purchases.

It is curious how their buys always seem to be priced at the most recent local top

Plus they've just banked an additional £350k cash, so no need for a fundraise. Market cap £700k

Absolutely bonkers low market cap this

Very pleased to have had opportunity to buy in at a lower price than what the institutional investors have just paid. Now watch this surge again once US wakes up.

GLA

These are the last people you should be putting faith in to deliver a btc treasury. Just look at the long term value destruction at Argo.

https://www.bloomberg.com/news/articles/2023-01-27/bitcoin-miner-argo-hit-with-lawsuit-over-misleading-us-ipo

One look at the interviews will show just how unprepared and out of their depth they are.

This is a high quality team and frankly puts to shame the management of certain other UK crypto treasuries valued at many multiples of this.

This is one of those stocks that seems good value but then you quickly realise why.

Every time the share price shows a bit of strength, directors do a discounted placing. Happened countless times. This permanently kills hope of share price appreciation.

This now looks unstoppable