I agree with Dylan. We are still in the early monetization phase of bitcoin. That means the intelligent move for bitcoin treasury companies today is to use intelligent leverage: short the dollar (or your local fiat) with conservative long-duration, low-interest debt and buy more bitcoin—amplifying bitcoin’s future returns. In the future, legacy asset classes like equities, real estate, and fixed income may become demonetized. At that point, they could trade at attractive valuations and potentially generate BTC Yield.