In most of the recent market cycles, the strategy was very simple: shares of companies holding Bitcoin typically traded at a premium relative to their net asset value ($BTC NAV(). As a result, they could issue shares at a higher price and use the funds raised to buy BTC at a lower price, thereby increasing the amount of Bitcoin held per share—a cycle.
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In most of the recent market cycles, the strategy was very simple: shares of companies holding Bitcoin typically traded at a premium relative to their net asset value ($BTC NAV(). As a result, they could issue shares at a higher price and use the funds raised to buy BTC at a lower price, thereby increasing the amount of Bitcoin held per share—a cycle.