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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?
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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
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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...
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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)
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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 😁
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