
If you believe a gold mining company w a market cap of $1m is going to buy +$1 billion in #Bitcoin I’ve got a bridge to sell you. 😅 Scam.
You're laughing. The microcap Peruvian gold miners want to buy 25,000 BTC, and you're laughing. https://t.co/algvZnsuGL
The number of #bitcoin'ers getting excited about this gold mining "LOI" announcement is pretty hilarious. Hey guys, this likely won't end as intended.

Reports have emerged about Nilam Resources, a South American gold mining company with a market capitalization of approximately $1 million, announcing intentions to purchase 25,000 BTC, valued at $1.7 billion. This announcement has sparked skepticism among observers, with some suggesting it might be a publicity stunt by a company described as a 'dying penny stock' with a market cap of just $5 million. Critics question the feasibility of such a purchase, pointing out the discrepancy between the company's market cap and the announced investment amount. The situation has led to discussions about the potential motivations behind announcing the purchase in advance, with some seeing it as an unlikely move for a company of its size.