Weekly Roundup 06/30/23 (ETF frenzy continues, Prime Trust insolvency, how Stablecoins are like Eurodollars) (EP.434)
On The Brink with Castle Island
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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