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by gregable
1490 days ago
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1. The author points out that txn fees are tiny, 1% of the revenue. And they are unlikely to be significant during the depreciation period of the machines. 2/3. Sure, but see #1. 4. Sure, but the author is pointing out that the cost of buying BTC exposure via these companies is higher than just buying BTC by a lot. It almost seems like a short position of these companies combined with a long position on BTC is a solid bet over a long term horizon. |
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The investors also get transaction processing infrastructure, including software and facilities, and a team, not just exposure to BTC. Perhaps they see future value in building that infrastructure now.
> It almost seems like a short position of these companies combined with a long position on BTC is a solid bet over a long term horizon.
If you think that's a solid bet, you're of course welcome to go ahead and make it!