Bitcoin's Value Plummets, Erasing $600 Billion in Crypto Market
Retail investors lost approximately $17 billion due to overpricing and collapse of share premiums in Bitcoin treasury firms like Metaplanet and Strategy, which overvalued their crypto holdings through inflated NAVs. The report suggests these firms need to shift from a share premium-based model to an arbitrage-driven approach to survive and potentially generate 15-20% annual returns.