#ETH #XRP #BTC Bitcoin analyst Mark Moss says Bitcoin treasury companies are positioning for a historic wealth transfer by using existing systems to fund future growth—like factories in the 1910s using gas profits to install electric infrastructure. These firms leverage debt, equity, and Bitcoin holdings to capture value and manage volatility, potentially outperforming traditional tech stocks.

Despite this, market sentiment is cautious. Companies like Strategy trade at just 1.6x their Bitcoin holdings, far below typical tech multiples, even as Bitcoin hits record highs. The market seems to undervalue these firms, creating a possible arbitrage opportunity.