নতুন স্টক মার্কেটের খেলা: क्रिप्टो केन, धनी हो (द्रुत)

আসলেই, blockchain-এর ‘পরিবর্তন’য়েরও ‘উপযোগ’টা থামছে।এখন? ‘অঙ្ផণ’।

দুই years-এ, U.S. public companies car or software sell kore na—BTC kharar e jai.

আমি Cango Inc.-er first earnings call analyze korar somoy CEO bolen, “আমরা treasury reserve er 5% BTC e allocate korechi”।

Ami jani: Eta risk management naki narrative engineering?

The Illusion of Value Creation

Traditional finance-ত, valuation cash flow, EBITDA margin ar sustainable growth er upor nishtho hoy। Kintu abar? BTC er quantity balance sheet e thaka onujayi firm er valuation hoi.

Jodi company BTC asset hisabe \(100M list kore—\)60K per coin e—tahole instant-upside exposure pabe crypto er har dollar-e।

Abhijan ekta truck sell korle na—but BTC er leveraged play hoye jai。

Eto investment naki—it’s more like speculative hedging with zero operational benefit.

Case Study: Cango & The 280% Run-Up

Cango Inc.—ekta car transaction platform ar core business model te kichu flashy nai। November 2023-e tahole $400M Bitcoin mining operation build er plan announce korchi ar 50 EH/s hashing power use korbe।

Market response? Immediate fireworks. Share price surged 280% in weeks.

Kintu twist: amar regression models run kore revenue stream post-announcement against BTC price movement… guess what? The correlation was almost none between actual business performance and stock returns. It wasn’t demand for used cars driving valuations—it was FOMO about mining rigs.

The Insider Exit Strategy (Spoiler: They’re Selling)

Now let’s talk about who really knows what’s going on—the people inside the company. Strategy Group (MSTR) has long sold itself as a Bitcoin bull case wrapped in corporate armor. But since June 2023? Their executives have been selling shares like it’s Black Friday—40 million USD worth in just three months alone. And yes—their insider trading volume is now ten times higher than buy orders. The irony? The moment you stop believing in the tech—and only care about ticker symbols—you lose everything that made blockchain interesting in the first place.