How a PPE company’s highly publicized $32M Bitcoin strategy quietly expired without purchasing a single coin

- Rectitude Holdings’ $32M Bitcoin treasury plan didn’t just fizzle; it evaporated into the void faster than a moonboy’s leverage. The PPE supplier’s standby facility expired on Oct. 9 without buying a single satoshi. Why? Because they forgot to file Form F-1, the bureaucratic key to unlock the cash. No registration, no shares issued, no BTC acquired. It’s a masterclass in how not to execute a strategy: announce loudly, sign quietly, and let the clock run out while your equity stays stubbornly unchanged. The investors at Constantinople Limited didn’t even get a discount; they got a voided contract. This isn’t a failed trade; it’s a failure of basic administrative competence. While other treasuries race to accumulate, Rectitude proved that if you don’t read the fine print, you’re just donating hype to the graveyard of broken promises. Next time, maybe hire someone who knows what a resale registration actually does.