LESSONS FROM THE POSITION OF CRYPTO VAULT COMPANIES (DAT)

Tom Lee (BitMine) has just made a valuable observation as Strategy announced a cash fund of 1.4 billion USD for defense:

1. Cash is King: Even when holding tens of billions USD in Bitcoin or ETH, giants like Strategy or BitMine still need to have a billion USD in cash to survive the winter.

2. Beware of mNAV traps: When a company's market capitalization is lower than the net asset value they hold (mNAV < 1), that company is facing existential issues. Don’t be tempted by the low price.

3. The era of "bare hands catching bandits" is over: The mindset of starting a company, adding a bit of crypto to the balance sheet to inflate stock prices x100 is dead.

👉 "This year is a wake-up call for both builders and stock investors," - Tom Lee.

BTC

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