Tom Lee: Cash and staking income will protect BitMine during market downturns

BlockBeats News, December 12 — Tom Lee, Chairman of BitMine, recently stated that the Strategy company’s establishment of a $1.4 billion cash reserve for Bitcoin Crypto Treasury (DAT) is a “wise move.” Although Strategy’s stock price has fallen over 50% in the past six months, this cash reserve will enable the company to continue paying dividends to shareholders during periods of declining Bitcoin prices without selling its $61 billion Bitcoin holdings. Tom Lee pointed out that during the previous Bitcoin downturn cycle, Strategy’s stock trading price fell below its net asset value (NAV), and building a cash reserve was precisely to prepare for such situations. As the largest ETH treasury holding over $12 billion, BitMine, despite not establishing an official USD reserve, Lee said that cash and staking income can also protect BitMine during market downturns.

BTC0.12%
ETH0.97%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 4
  • Repost
  • Share
Related Topics
#
BTC
#
以太坊
Comment
0/400
$Northstar$vip
· 12-12 16:58
Hop on board!🚗
View OriginalReply0
$Northstar$vip
· 12-12 16:58
Hop on board!🚗
View OriginalReply0
$Northstar$vip
· 12-12 16:57
Hop on board!🚗
View OriginalReply0
$Northstar$vip
· 12-12 16:57
Hop on board!🚗
View OriginalReply0
  • Pin
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)