Another company that copied Saylor’s bitcoin playbook just hit zero.


K Wave Media lined up $1 billion to buy 10,000 btc . This week their filing showed they sold 88 coins to cover $6 million of debt and dumped whatever was left a few weeks later. A billion dollar treasury plan ended paying off a $6 million bill, and now the leftover money is going into AI data centers while they fight off two Nasdaq delisting notices.
They’re not even the only ones. Genius Group wanted 10,000 btc too and sold their last 84 coins this year to repay debt. The miners have offloaded more than 15,000 btc between them and signed $70b worth of AI contracts instead.
The whole trade only ever worked while the stock traded above the value of the coins.
That premium is gone and the ponzi is being exposed
BTC0.73%
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