In a recent press release, it was revealed that gold outperformed Bitcoin in the past year, with a 73% rise compared to Bitcoin's 29% decline. However, it was noted that, historically, gold has not been a consistent store of value, underperforming inflation 48% of the time in the last 50 years. In contrast, Bitcoin has only underperformed inflation in 3% of the last 160 months since its creation.
The press release also discussed the potential for Bitcoin to resume its narrative as a store of value in the future and highlighted the rise of dominant Decentralized Autonomous Treasuries (DATs). It was mentioned that Bitmine, one of the dominant DATs, holds around 4.4 million ETH and has outperformed Ethereum in terms of stock value. The stock rose by 500% from June 30th to December 31st, outperforming Ethereum by 48,000 basis points.
Regarding Ethereum, the press release stated that Ethereum has fallen more than 50% eight times since 2018 but has consistently experienced a V-shaped bottom recovery. It was suggested that Ethereum is close to its bottom and may see a turnaround soon.
Additionally, the press release discussed the future drivers for Ethereum, including its role in rebuilding the financial system on the blockchain, AI use cases, and the creator economy. It was mentioned that major financial institutions are expected to make critical announcements about using Ethereum in the coming months.
The press release also emphasized the four pillars of growth for Bitmine, focusing on maximizing yield on the treasury, investing in moonshots, productizing Bitmine, and bridging traditional finance and decentralized finance. It was highlighted that Bitmine is debt-free with a positive cash balance of around 600 million and provides weekly staking updates, generating significant rewards.
Moreover, the press release touched upon Bitmine's moonshot investments, particularly in Beast Industries, which was described as having the potential to become the financial institution for Gen Z and Gen Alpha. It was noted that Beast's customer base, coupled with its digital asset focus, presents synergistic opportunities for Bitmine.
Lastly, the press release discussed the correlation between Ethereum and Bitmine's price, suggesting that Bitmine's stock has a bright future tied to Ethereum's potential. It was stated that at a $22,000 ETH, Bitmine stock would be valued at 500, and at a $62,000 ETH, Bitmine's stock would be $1,500.
The market has reacted to these announcements by moving the company's shares 0.94% to a price of $31.16. For the full picture, make sure to review BITMINE IMMERSION TECHNOLOGIES, INC.'s 8-K report.
