If you were smart, you would sell [your bags] and buy [my bags] ;)
$CRCL is trading at a massive premium to onchain DeFi.
If they were smart, they would farm the premium through equity offerings. Take $500-$1B and accumulate DeFi governance onchain at a discount.
They could build a huge moat across blue chips like $UNI, $AAVE, $CRV, $HYPE, $AERO, etc.
Having a governance moat means you will always have liquidity, incentives for users, and can even box out competitors.
They are the only pure stable-coin play on Wall Street right now. Over time other companies launch and $CRCL will lose their valuation premium.
Those new stablecoin launches would dilute $CRCLs premium. They would also boost $CRCLs balance sheet as they would be forced to buy the same onchain DeFi bags to compete on liquidity and incentives.
Monopoly playbook 📖
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