As of Q121, the  on $GLXY's BS made up ~27% of NAV (12 930 BTC - material net holding in BTC of appx. $761.8M divided by end-of-March 31 price), and the model below assumes a constant beta to BTC (inspired by @f6zivk's tweet back in May of last year - thanks!) https://t.co/ZL24CqIUCE