Every Zipp story tagged #Dilution, newest first.
BTC Yield is sliding, Metaplanet trades below its coin hoard, and the funding shortcut that turned treasury companies into a $100B trade is now the reason the trade is breaking.
The size of the grant, roughly 5% of outstanding shares for two executives at a loss-making miner, lands as the more controversial figure than the dollar number alone.
The forced seller is a canary for the whole cohort: when refinancing tightens, the "buy more BTC" pitch stops working and the equity gets marked against NAV until the math clears.
Spot ETFs erased the scarcity premium that once made a leveraged Bitcoin wrapper worth holding, and shareholders are now rejecting dilution that used to get a free pass.
CryptoSlate
WuBlockchain