First we got digital assets Then we got Microstrategy, which sought to help investors multiply their bitcoin (1 share > 1 btc) by raising debt against its equity Then we got copycats, who said “wait, we could do that with other assets” (termed “digital asset treasuries”) Then we got funds who sought to buy those digital asset treasury stocks, where getting in early presumably means investors can benefit both off of the premium appreciation and the increase in assets per share Next? Maybe we’ll get DAT strategy funds who borrow against their equity to buy even more of the DAT stocks (1 share > 1 share) And then? Someone, somewhere sells - and the bubble pops