in the end, no one wants to pay a premium for a closed end fund that just levers up in clever (only if the coin keeps going up!) ways to buy one asset and do nothing with it
eventually the DATs must find ways to make money
but it's hard to know how much more arb there still is to squeeze out of tradfi - could be a lot
Saylor on average, each month, bought $2.6 billion of BTC using other people's money for the first 7 months of this year (January through July). It was about $18 billion into Bitcoin
In August he bought $400 million and in September he bought $850 million
Hyperliquid
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