Crypto a Good Wartime Store of Value
Tom Lee calls crypto a 'good wartime store of value' as Bitmine adds 71,179 ETH to its treasury. Crypto outperforms equities and gold.
Crypto as a Wartime Store of Value
According to Tom Lee, Ethereum has outperformed equities by 1,160 basis points and gold by 750 points during the ongoing conflict. This has led to a strengthening and consolidation of the crypto ecosystem as a robust 'wartime store of value'.
Bitmine's Accumulation Strategy
Bitmine has increased its treasury to 4,732,082 ETH (approx. $9.8 billion) after acquiring an additional 71,179 units since March 23rd. The firm now controls 3.92% of Ethereum's circulating supply, with 66% of its assets (3.1 million ETH) generating substantial staking rewards of $177 million in annualized income.
Staking Rewards
The company has 3,142,643 ETH in staking, which strengthens its financial position against oil market volatility. The inverse correlation between cryptocurrencies and oil has reached all-time highs, with the end of the 'crypto winter' closely tied to the moment when the upside risk of crude oil prices hits its ceiling.
Key Takeaways
- Crypto is a good wartime store of value, outperforming equities and gold.
- Bitmine controls 3.92% of Ethereum's circulating supply, with 66% of its assets generating staking rewards.
- The company's accumulation strategy is backed by institutional investors like Cathie Wood and Pantera Capital.
- The inverse correlation between cryptocurrencies and oil has reached all-time highs.
Frequently Asked Questions
What is the current value of Bitmine's treasury?
Bitmine's treasury is currently valued at approximately $9.8 billion.
How much of Ethereum's circulating supply does Bitmine control?
Bitmine controls 3.92% of Ethereum's circulating supply.
