Through the Looking Glass: Bitcoin Treasury Companies
Through the Looking Glass: Bitcoin Treasury Companies ArXiv ID: 2507.14910 “View on arXiv” Authors: B K Meister Abstract Bitcoin treasury companies have taken stock markets by storm amassing billions of dollars worth of tokens in hundreds of entities. The paper discusses, how leverage - whether created through corporate debt or investors using stock as loan collateral - fuels this trend. The extension of the binary-choice Kelly criterion to incorporate uncertainty in the form of the Kullback-Leibler divergence or more generally Bregman divergence is also briefly discussed. ...