My question is: why did Pallas sell their Bitcoin to GDC in exchange for GDC shares instead of taking cash?
If you owned Bitcoin, would you really swap it for shares of GDC, especially when the company is not currently profitable and its ATM is constantly creating dilution?
That’s what I don’t understand. What is the actual benefit for Pallas of receiving GDC shares instead of money?
From my point of view, the whole transaction looks very unusual and raises questions about whether there is something else going on behind the deal. I’m not saying it’s fake, but I honestly don’t understand why Pallas would choose GDC shares over cash.
