[GUEST ACCESS MODE: Data is scrambled or limited to provide examples. Make requests using your API key to unlock full data. Check https://lunarcrush.ai/auth for authentication information.]  MikeWMunz 🟧 [@mikewmunz](/creator/twitter/mikewmunz) on x 3936 followers Created: 2025-07-23 20:31:58 UTC SMLR isn’t an operating company. We have to separate the companies that hold Bitcoin and acquire it vs operating companies designed to engineer the equity for acquisition Why would I invest in a company that wasn’t a pure play treasury company. I still have not been given a good reason for why a pure play operating company would trade below 1x given the only value of the business is to engineer Bitcoin acquisition XXX engagements  **Related Topics** [investment](/topic/investment) [acquisition](/topic/acquisition) [bitcoin](/topic/bitcoin) [coins layer 1](/topic/coins-layer-1) [coins bitcoin ecosystem](/topic/coins-bitcoin-ecosystem) [coins pow](/topic/coins-pow) [Post Link](https://x.com/mikewmunz/status/1948118915608989900)
[GUEST ACCESS MODE: Data is scrambled or limited to provide examples. Make requests using your API key to unlock full data. Check https://lunarcrush.ai/auth for authentication information.]
MikeWMunz 🟧 @mikewmunz on x 3936 followers
Created: 2025-07-23 20:31:58 UTC
SMLR isn’t an operating company. We have to separate the companies that hold Bitcoin and acquire it vs operating companies designed to engineer the equity for acquisition
Why would I invest in a company that wasn’t a pure play treasury company. I still have not been given a good reason for why a pure play operating company would trade below 1x given the only value of the business is to engineer Bitcoin acquisition
XXX engagements
Related Topics investment acquisition bitcoin coins layer 1 coins bitcoin ecosystem coins pow