$BLOCK
Heating UpSnapshot Window: 2026-07-25 03:00 UTC · ← Back to Crypto Overview
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Lyn Alden has been a Strategy shareholder since August 2020... But she's on record that the long tail of pure-play Bitcoin treasury companies is a crowded space. "Liquidity begets liquidity. The large ones have a role to play." But if you're not one of the top treasury [Spoken audio]: I've been on record. I've been a strategy shareholder since August 2020 when they started strategy. But I'm on the record that the long tail of other pure play debts or treasury companies, I think it's a very crowded space. Liquidity begets liquidity. So I think the large ones have a role to play, and there are different markets out there. There's Japan, there's Brazil, there's European markets. There's a number of big liquid markets. But if you're not one of the top pure playdots in those markets, those treasury companies in those markets, I think the much bigger opportunity is just that other companies, whether it's public-shared companies now or it's our strategy that's accumulating private companies and intends to go public eventually, is to take these just totally non-Bitcoin businesses that have cash flows and just put it into a Bitcoin treasure. That's another thing you can do with your capital besides the other things you can do with retained earnings.