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Hamak Strategy and value destruction with bitcoin: A maths lesson for the stupid ( including Zak Mir)!

Tom Winnifrith
Tuesday 14 October 2025
The lack of fiat at Hamak Strategy (HAMA) means that it urgently needs to either start selling its pile of bitcoin or do a fund raise, either straight equity or death spiral CULS. Either way it won’t be pretty for its share price. But a bitcoin sale would expose what a farce its value addition via shitcoin treasury strategy is. Do the maths stupid!

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Tom Winnifrith is the editor of TomWinnifrith.com. When he is not harvesting olives in Greece, he is (planning to) raise goats in Wales.
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