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Given that it's mathematically impossible for BTC to succeed until they change their POW, this doesn't make sense as a political play. Most like Sequoia is just paying for BTC in advance to get a deeper discount than they'd normally get for buying in volume. It's also possible that they're just selling the BTC as they go and hoping for a short payback period, but while this makes sense financially it's unclear how it would relate to their overall portfolio strategy.