Joe Burnett, MSBA (@iiicapital) 's Twitter Profile
Joe Burnett, MSBA

@iiicapital

Bitcoin | Director of Market Research @unchained | Previously @EY_US, @BlockwareTeam, @MimesisCapital | Opinions are my own | Not financial advice

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linkhttps://themustardseed21.substack.com/ calendar_today25-02-2018 20:30:06

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The copper-gold ratio, a gauge on the business cycle, has historically been a reliable macro indicator for bitcoin bull markets. 2013, 2017, and 2021 began the same way: copper outperforms gold, economic confidence returns, and bitcoin explodes. And it’s starting to turn now.

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Even if the mNAV premium “flywheel” disappears, a bitcoin treasury company trading at 1x mNAV remains extremely attractive. With intelligent leverage, it can create ~1.2x bitcoin exposure—at low interest rates and without short-term liquidation risk. That structure is

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In the future, a prerequisite for doing long term business with any company will be ensuring they have a strong balance sheet full of bitcoin. It will imply that if they have a few bad quarters, or even a few bad years, they’re not going anywhere.

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Bitcoin treasury companies tend to trade at premiums just like bitcoin trades in contango in futures markets. Demand for leverage long bitcoin is high because bitcoin is NgU technology.

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If you missed the golden decades of investing in PE, VC, or big tech, don’t worry because you can now invest in LBE (Leveraged Bitcoin Equity).

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The U.S. government announcing a successful bitcoin acquisition through the SBR EO and the potential passage of The Bitcoin Act is nowhere close to being priced in.