pull down to refresh

11 sats \ 4 replies \ @Aardvark 24 Jan \ on: FartStrategy & Legacy Finance's Relationship w/ Bitcoin (Bloomberg, Matt Levine) econ

Aptly named at least.

How does it have a 1.4B market cap? Do people really just hate money that much that they put it into fartcoin?

write
preview
21 sats \ 3 replies \ @denlillaapan OP 24 Jan

Market cap doesn't make much sense as a metric when there's that little float and liquidity

reply
24 sats \ 2 replies \ @Aardvark 24 Jan

I thought that was the total value of all shares...

There must be some fuckery that I don't understand which is probably pretty shocking for anyone who knows how smart I am, but here we are...

reply
21 sats \ 1 reply \ @denlillaapan OP 24 Jan

I think I covered it in a money class #809392

But yes, imagine i print up 1,000,000 pieces of paper and then managed to sell one to Bob for $1. Am I a millionaire now?

The market cap calculation (total outstanding times last selling price) suggest so, but it has no meaning since obviously I won't be able to sell the other 999,999 pieces (at all, or for anything close to that price)

reply
0 sats \ 0 replies \ @Aardvark 24 Jan

Ok, that makes a lot of sense. I'll give the link a read, I generally really enjoy the write ups you do that I understand 😁

reply