I for one prefer this brave new world where people reason in terms of % instead of share count
The burn is an elegant solution but has one very important drawback - fungible returns.
This is a perception issue, but an important one. Investors can't realize gains without reducing the number of shares held.
Sure, they have to sell less shares to achieve a given amount of value... but they still end up with less shares.
The current system is essentially a baked-in DRIP mechanism, which is excellent and achieves the same goal with higher efficiency.
But look at the subscription rates of DRIP programs. Folks like to get paid.
If BTSX were to reset to 2B shares on a monthly basis investors would receive a nice deposit of BTSX shares each month.
As a long time dividend investor I can't convey the magnitude of the importance of this monthly payment.
Investors can watch their share 'count' grow, or cash out without watching their stake 'shrink'.
A reset will be required at some point and I think there are huge advantages to resetting automatically on a monthly basis.