Bit Digital holds $439 million worth of Ethereum, yet its stock still trades below $1.
BeInCrypto reported on this contrast: the value of the company’s Ethereum holdings on its books appears clearly out of step with its share price in the market. The report says the figures come from the company’s own financial data.
· $439 million is a single figure representing the value of its holdings; it is not the same as net assets or the value of Ethereum attributable to each share.
· The source points to “the company’s own figures” as a way to understand why Wall Street is unwilling to pay $1, but offers no detailed breakdown, so we shouldn’t fill in the conclusion for it.
Would you first calculate the holdings’ share of the market cap, or look at its other liabilities and business revenue?
BeInCrypto reported on this contrast: the value of the company’s Ethereum holdings on its books appears clearly out of step with its share price in the market. The report says the figures come from the company’s own financial data.
· $439 million is a single figure representing the value of its holdings; it is not the same as net assets or the value of Ethereum attributable to each share.
· The source points to “the company’s own figures” as a way to understand why Wall Street is unwilling to pay $1, but offers no detailed breakdown, so we shouldn’t fill in the conclusion for it.
Would you first calculate the holdings’ share of the market cap, or look at its other liabilities and business revenue?
