You read that a company earned $620.6 million, and it sounds like all that money came in as cash.
Hyperliquid Strategies reported that net income on November 5 for the quarter ended in September. The result included $803 million in unrealized gains on its $HYPE ; expenses and taxes, among other items, reduced the total.
“Unrealized” means that gain comes from valuing the tokens at a higher price, without having collected it by selling them. If the price changes, that part of the result can also change in the next period.
To understand how a company with a crypto treasury is doing, I like to separate what its business generates from what its portfolio gains. The headline mixes things that are worth looking at separately.
When you look at those results, do you focus first on the profit or where it came from?
Hyperliquid Strategies reported that net income on November 5 for the quarter ended in September. The result included $803 million in unrealized gains on its $HYPE ; expenses and taxes, among other items, reduced the total.
“Unrealized” means that gain comes from valuing the tokens at a higher price, without having collected it by selling them. If the price changes, that part of the result can also change in the next period.
To understand how a company with a crypto treasury is doing, I like to separate what its business generates from what its portfolio gains. The headline mixes things that are worth looking at separately.
When you look at those results, do you focus first on the profit or where it came from?