Pabloescobarino on Nostr: Their business model is to make money off of trading fees, creating a bridge from ...

Their business model is to make money off of trading fees, creating a bridge from dollars to BTC and vice versa, and shilling shit coins to retail. If they decide to instead just HODL all the BTC then they effectively become crypto hedge funds. People need exchanges to get in and out of their positions, and the exchanges need their business for cash flow, jobs and to prop up their stock so the market needs exchanges. I'm sure they hold a portion of their BTC for treasury reserves, sort of like Tether or Microstrategy. Their business drives demand for these financial products, if there were no exchanges then their wouldn't be a market so the price of BTC would be meaningless since there wouldn't be an effective way to buy and sell it. ( I'm not gonna even get into spot ETFs since that's just paper BTC for all we know )