Quoting @0xAnteater here
Stonk-buying treasuries are cool
Packaged as buyback-and-burn for cryptobros,
shiny new crypto stonk for speculators.
The bet is simple: the underlying asset keeps going up.
With $BTC, you can pull that off. With most alts, you just can’t. ( $HYPE is my exception. )
A treasury’s real job is to hold, not dump.
That works when your asset is strong like $BTC
but
good luck trying that with random alts.
When the price bleeds, it’s not burn anymore the treasury can sells... and burns you instead.
First principles:
If this is a fund-raised project with vesting where are these stonks getting the tokens from?
Stay safu if you are longing ETF alts or speculating on those ETF
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