Tom Lee, chairperson of BitMine, said recently that Strategy, the Bitcoin crypto-treasury (DAT) company, had made a "smart move" to build a $1.40 billion cash reserve. Despite Strategy's share price falling by more than 50% in the past six months, the cash reserve will allow the company to continue paying dividends to shareholders during the bitcoin price decline without having to sell its $61 billion worth of bitcoin holdings.
Tom Lee pointed out that during the last round of bitcoin decline cycle, Strategy had a stock trading below its net asset value (NAV), and the establishment of cash reserves was to prepare for this situation. As the largest ETH vault company with more than $12 billion in Ethereum, BitMine has not established formal dollar reserves, but Lee said that cash and pledge income can also protect BitMine during market downturns.
Tom Lee: Cash and collateral revenue will protect BitMine during market downturns
2025-12-12 15:57:13
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