Greenlane’s BERA treasury, once $70 million, is now $16 million.
The company held 81.3 million BERA and BERA-equivalent tokens as of June 30. BERA fell 75.9% year-to-date, costing Greenlane a $19.1 million noncash fair-value loss for the quarter. They bought more even as the price dropped from $1.20 to $0.146.
Our take: This is what happens when a public company, even a former cannabis one, goes all-in on a single, illiquid altcoin for its treasury. It’s a retail move. It shows the danger of chasing returns with unproven tokens.
Would you trust a public company with your treasury if they made a concentrated bet on a new token like this?
$BTC
The company held 81.3 million BERA and BERA-equivalent tokens as of June 30. BERA fell 75.9% year-to-date, costing Greenlane a $19.1 million noncash fair-value loss for the quarter. They bought more even as the price dropped from $1.20 to $0.146.
Our take: This is what happens when a public company, even a former cannabis one, goes all-in on a single, illiquid altcoin for its treasury. It’s a retail move. It shows the danger of chasing returns with unproven tokens.
Would you trust a public company with your treasury if they made a concentrated bet on a new token like this?
$BTC