"its own equity" is just cash it holds after issuing shares.
Correct, but people are buying these shares at 2.7x so it gets more cash than the $ value of the BTC the shares sold represent - 2.7x
Yes and this is the bit that makes no sense.
Also what was wrong in what I said above? You said "no"
@frank9755 started
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"its own equity" is just cash it holds after issuing shares.