TL;DR The company's stock has fallen roughly two-thirds from its peak last year, closely tracking Bitcoin's rise to a record above $126,000. The whole 9 yards of 💩 So here we are, staring at another corporate move wrapped in the glitzy glamour of crypto rumor and stock tickers. GD Culture, a Bitcoin treasury firm that apparently treats BTC like a sunken treasure chest rather than a cash flow instrument, has announced plans to sell its BTC holdings to fund share buybacks. Hmm. Let’s unpack this with the clinical skepticism of a seasoned tech journalist and a healthy dose of “I’m watching you” enthusiasm for what could be clever capital management or a slippery shortcut around the hard work of building real value. First, the math. If you’re selling Bitcoin to fund buybacks, you’re essentially saying: “We believe our stock is underpriced, and our best use of capital is to buy our own shares while BTC is sitting on the balance sheet.” That sounds bold until you realize you’...
Ignorance is not a strategy.