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Every time a public company adds Bitcoin to its balance sheet, the business press treats it like a corporate event. Filings, analyst notes, earnings-call questi
Every time a public company adds Bitcoin to its balance sheet, the business press treats it like a corporate event. Filings, analyst notes, earnings-call questions, the whole theater. The implicit message is that a Bitcoin treasury is a thing serious, sophisticated, capitalized companies do, and everyone else is watching from the sidelines. That framing is wrong. The only reason public-company treasury moves are news is that public companies have to disclose them. A private business with a hardware wallet and a payment processor that actually respects self-custody can run the same strategy, at any size, starting this afternoon. The machinery isn't exotic. It's just been branded as exotic by people who benefit from you not knowing how accessible it is. This post is about what a business-gra…