🚨 BIT DIGITAL PLUNGES 4% AFTER LEAVING BITCOIN FOR #ETHEREUM ! 📉 IS IT A CRYPTO BETRAYAL OR A MASTER MOVE TO CONQUER STAKING WITH DEBT? 🤯💸
📢 Bit Digital (BTBT) shares plummeted nearly 4% on Wednesday! 📉 The reason? The cryptocurrency mining company announced it will liquidate or sell all its Bitcoin mining infrastructure to become a "pure Ethereum staking and treasury company"! 🚀 And not only that! They also plan to sell their own shares to use that income to buy even more Ether ($ETH )! 💰 As of March 31, they already had a considerable amount of ETH, and if they convert all their current $BTC , their reserve of #ETH would exceed 42,000 tokens! 🤯
This radical shift, which Bit Digital has been developing since 2022 with the purchase and staking of ETH, has triggered a negative reaction among investors, with the stock falling to $2.35 and almost 25% year-to-date. 📊 But Bit Digital is not the only one in this "institutional craze for ETH": companies like SharpLink Gaming (which has already purchased $463 million in ETH and another $30 million) and BTCS Inc. are mimicking Michael Saylor's strategy with Bitcoin, but betting on Ethereum and the profitability of staking! 💡 The question is: is this a visionary strategy that will capitalize on the Ethereum boom, or a risky move that could burn investors if the market does not cooperate? 🤔
🤔 Do you think this is a bold and visionary decision that will capitalize on the future of staking and Web3? 👇💬
