Bitcoin Treasury companies are the biggest scam ever created, yet they will spin any financial bullshit that sells to raise capital and say it's "maximising shareholder value", meanwhile retail is left carrying the bag, down -96% in 6 months. There is no future for the current Bitcoin treasury companies. They will merge and the remaining few (90% less) will come banks (borrow/lending). You cannot generate yield on an asset with fixed supply by fugazi capital raising and debt multiple expansion. It only leaves you rekt.(Charles Edwards)