Recently, the trend of companies buying $BTC and rising stock prices is becoming established, but what happens when DeFi protocols buy BTC? In conclusion, "buying BTC = token price rise" is not true. Buying BTC increases net worth and is directly linked to shareholder value, but this is not the case with DeFi governance tokens. If it is not clear how the BTC will affect the value of the token, it will be difficult for the market to react. On the other hand, if there is a design as follows, there is a possibility that it will go up. ・Burn and pay dividends in BTC (e.g., MakerDAO's Smart Burn) ・The value of the token is backed by the assets held (e.g., Olympus DAO) ・There is a mechanism to manage BTC as a source and return profits Conversely, buying BTC as part of mere diversification is likely to end up with temporary positives, so it doesn't necessarily mean that crypto projects buy BTC = bullish. Yesterday, Polkadot made headlines with a proposal to buy BTC on Treasury, but the reality is that it has not had much impact on the price because the redemption scheme is unknown. In addition to Web2 companies such as MicroStrategy and Metaplanet that buy BTC from here, it is likely that more and more Web3 projects will also follow this trend. Buying BTC = not a bad thing, but it seems difficult to reflect in the token price if there is not an end to buying and how it will be returned to the holder. I want a cool token like DeFi 4.0 with an innovative design involving BTC, like $OMH, which once took the world by storm.