Julian Hosp, founder of Cake DeFi, said the Singapore-based company highlighted Strategy’s negative yield and market value challenges, which could prompt Bitcoin sales amid delisting risks.
“mstr looks truly abysmal,” said Hosp. “-48% over the past year. current bitcoin yield is negative. actual mnav is at a record low with a -21% discount.”
According to an X post by Hosp, this critique responds to Strategy’s announcement of acquiring additional Bitcoin. It details the company’s stock decline and operational hurdles despite treasury expansions, specifying potential index delisting and substantial earnings losses on the horizon.
Cake DeFi operates its headquarters in Singapore to support decentralized finance services within Asia’s blockchain ecosystem. The location provides regulatory advantages for crypto platforms and access to skilled professionals in fintech. This base enables Cake DeFi to offer staking, lending, and liquidity mining to global users.
Public companies holding Bitcoin as treasury assets encounter stock discounts due to leverage and volatility issues. Strategy possesses one of the largest corporate Bitcoin reserves but faces negative yields and market value gaps. This situation illustrates investor skepticism toward heavy crypto exposure in corporate balance sheets.
Hosp co-founded Cake DeFi after careers in medicine and professional kitesurfing. He previously established TenX, a blockchain payment firm, achieving exits in the fintech sector. Hosp leads Cake DeFi in delivering decentralized finance products while managing AI-focused investments.
