Tom Lee: Cash and staking income will protect BitMine during market downturns
Jinse Finance reported that BitMine Chairman Tom Lee recently stated that Strategy, a Bitcoin crypto treasury (DAT) company, establishing a $1.4 billion cash reserve is a "wise move." Although Strategy's stock price has dropped by more than 50% in the past six months, this cash reserve will enable the company to continue paying dividends to shareholders during periods of Bitcoin price decline, without having to sell its $61 billion worth of Bitcoin holdings. Tom Lee pointed out that during the last Bitcoin downturn cycle, Strategy's stock once traded below its net asset value (NAV), and building up a cash reserve is precisely to prepare for such situations. As the largest ETH treasury company holding over $12 billion in Ethereum, BitMine has not established a formal USD reserve, but Lee stated that cash and staking income can also protect BitMine during market downturns.
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