Weekly Roundup 06/30/23 (ETF frenzy continues, Prime Trust insolvency, how Stablecoins are like Eurodollars) (EP.434)
On The Brink with Castle Island
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The Convenience of Investing in Bitcoin Infrastructure Companies
When the equity trades richly, I suppose, relative to the underlying, they sell it. And they turn that into Bitcoin. If for whatever reason it ever started trading at a discount for a long period of time, then they would sell some of the Bitcoin buyback this year. So it's kind of like an erstats ETF, I guess you could say, is how that's working.
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