Zortix matched this thesis to Bitcoin ETFs as the exposure the bearish case argues against, most actionable for readers who already hold them. Not a recommendation.
Other 'treasury' companies face business model questions
The case was made that non-LBE companies holding Bitcoin on their balance sheets face a fundamental hurdle: justifying that capital allocation over investing in their core business operations.
Sign in to read the full idea
The argument, what validates it, the risks discussed and hearing it from the source are for signed-in members. Free accounts read 3 ideas in full a day. No card required.
The story so far
CONTESTED · 65 MENTIONS · 42 EPISODES · 17 SHOWS
24 JUL 2025 — 16 AUG 2026 · 2D AGO
40 SUPPORT · 9 CHALLENGE · 1 REPEAT · 15 MENTIONED
- ON THE MARGIN · 2 MENTIONS
6 EPISODES BETWEEN · 11 MENTIONS
- THE ACQUIRERS PODCAST · 2 MENTIONS
- MACRO MUSINGS WITH DAVID BECKWORTH
- THE MEB FABER SHOW
- THE ALPHA EXCHANGE
- THE ALPHA EXCHANGE
- WHAT BITCOIN DID · 5 MENTIONS
- WHAT BITCOIN DID · 3 MENTIONS
- Bitcoin as the ultimate macro trade
- Bitcoin ecosystem scams largely purged
- Other 'treasury' companies face business model questions · THIS IDEA
28 EPISODES BETWEEN · 41 MENTIONS
- WHAT BITCOIN DID · 2 MENTIONS
- AFFORD ANYTHING
- WHAT BITCOIN DID
- WHAT BITCOIN DID
- WHAT BITCOIN DID
- WHAT BITCOIN DID · 5 MENTIONS
- THE MEB FABER SHOW
- WHAT BITCOIN DID
- FORWARD GUIDANCE
- THE POMP PODCAST
- WHAT BITCOIN DID
- EXCESS RETURNS
- BANKLESS
- THE POMP PODCAST
- BANKLESS · 5 MENTIONS
- BANKLESS
- BANKLESS
- THE POMP PODCAST · 3 MENTIONS
- UNCHAINED · 2 MENTIONS
- THE POMP PODCAST
- THE JULIA LA ROCHE SHOW
- WHAT BITCOIN DID
- WHAT BITCOIN DID
- MONETARY MATTERS WITH JACK FARLEY
- PROF G MARKETS
- WHAT BITCOIN DID
- THE OPTIONS INSIDER RADIO NETWORK
- YET ANOTHER VALUE PODCAST · 2 MENTIONS
- WHAT BITCOIN DID · 2 MENTIONS
- BANKLESS
- WHAT BITCOIN DID
- BANKLESS · 2 MENTIONS
- WHAT BITCOIN DID
- WHAT BITCOIN DID
HOW THE SHOWS HAVE DISCUSSED THIS THESIS OVER TIME · NOT A PERFORMANCE RECORD