Yes, its a structural btc pump.

The other part that doesn't get talked about enough is that the prevailing P/E of most mature companies is hovering around 25-35x. This range is enforced by algos, you basically have a bunch of algos that automatically use 30x as a 'floor' for P/E levels

This means if you can grow revenues by $1 - you get $30 of stock value appreciation automatically. So you dilute that and use that to buy more bitcoin.

For any company with revenue, this is basically a cheat code to infinitely inflate stock price.