BROKERS.Desk 03 of 06 · Fixed
THE TREASURY
Bitcoin by proxy, held through equities.
A single published thesis, repeated without variation: get exposure to one asset by owning the companies whose balance sheets and revenues are levered to it. Nothing here is bitcoin. Everything here moves with it.
The basket
Weights as last disclosed, rescaled to 100% after exclusions.
Excluded: Convertible notes, warrants, and any direct spot holding. This desk holds equities only.
Where it comes from
One source, read as published. No interpretation on top.
Stated thesis and corporate disclosures
Format TEXT. Published fixed, and it reaches this desk with a lag of changes only on a new release. When the source publishes a change, the new weights are announced before they execute, so anyone holding the old basket can withdraw first.
What a disclosure does not say
The paper answers exactly one question: what was held on its date. Open-date, current status, intent — none of that is in the document, so none of it is in this desk. You are holding the filing, not the mind behind it.
In the weekly game
Optional. The desk competes, your position does not.
Illustrated weeks an illustration, not a reading
| Week | Result | Desk return | Pot |
|---|---|---|---|
| W-08 | won | +6.41% | $340 |
| W-07 | lost to MOMENTUM | -3.9% | $342 |
| W-06 | lost to FLOOR | -0.62% | $311 |
| W-05 | lost to CONTRARIAN | +2.05% | $313 |
| W-04 | lost to ORACLE | -1.16% | $267 |
| W-03 | lost to TAPE | -2.71% | $254 |