On Bitcoin Treasury Companies
While it is correct that Bitcoin's progress will need an institutional
layer, this cannot and will not be the passive Bitcoin Treasury Company of today.
These merely centralise Bitcoin as balance sheet investments, as store of value, in hope of a financial flywheel, which however will peter out when net total inflows stop.
It always stops, look at history.
The institutions REALLY needed are those which put Bitcoin to work in the real economy, as medium of exchange for trade and industry.
This will produce sustainable Bitcoin returns and unlock Bitcoin's monetary premium for a last price increase before stabilising.
This needs not some company pushing "digital credit". It needs a decentralised "Bitcoin Credit Money" layer.
hubertus / HubertusVIE
npub192…j4f6r
2026-01-13 20:39:11 UTC
Author Public Key
npub1924xzcxh5hal80afljr7sl7qsr6572y95e3qw0ejdstatsx7ma7sqj4f6rSeen on
wss://nos.lolPublished at
2026-01-13 20:39:11 UTCEvent JSON
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"content": "On Bitcoin Treasury Companies\n\nWhile it is correct that Bitcoin's progress will need an institutional\nlayer, this cannot and will not be the passive Bitcoin Treasury Company of today. \n\nThese merely centralise Bitcoin as balance sheet investments, as store of value, in hope of a financial flywheel, which however will peter out when net total inflows stop. \n\nIt always stops, look at history. \n\nThe institutions REALLY needed are those which put Bitcoin to work in the real economy, as medium of exchange for trade and industry. \n\nThis will produce sustainable Bitcoin returns and unlock Bitcoin's monetary premium for a last price increase before stabilising. \n\nThis needs not some company pushing \"digital credit\". It needs a decentralised \"Bitcoin Credit Money\" layer.",
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