As I mentioned in the most recent newsletter, I’m dropping CEP from the supplemental trades because after I took a closer look at the SPAC deal (which hasn’t completed yet), I feel like the risk / reward isn’t there.
There’s no real business plan yet, other than “buy Bitcoin” and stick Jack Mallers out in front of it.
If there is a roadmap to integrate or even merge into Strike, I’d rather take up positions after the share count blows out.
If there is no plan to do anything than stack Bitcoin then I think this could be part of the Bitcoin Treasuries Bubble we’re starting to see rumblings of (see Kane McGukin’s piece here).
Exiting now at about the same place we entered.
A reader suggested I add an Actions to Take section to each edition, especially since they are longer now – great idea and will start doing that next edition.
That’s it for now.
