The market has struggled to evaluate BTBT because its strategic narrative has shifted substantially, and past financials and profits are not telling the story of where they’re headed. • they have abandoned BTC mining, which is no longer profitable with the rising energy costs and BTC mining rewards constantly being halved over time • they own 70–80% of WYFI, an AI HPC which recently IPOed and is being carved out (WYFI is up 23% this past week) • BTBT is very clear that their sole goal now is to become a leading ethereum treasury, and they plan on divesting WYFI over time to make opportunistic ETH accumulation minimizing potential share dilution • you need to be bullish and long on the macro case for ETH to really appreciate the BTBT opportunity beyond a simple discount to nav play • with the Genius Act, there’s regulatory clarity on stable coin, and there’s a clear movement and institutional alignment in the broader financial systems to integrate tokenization and stable coin, and this is mostly being built on ETH rails as a settlement layer • ETH is rapidly evolving into a store of value narrative similar to gold, and in recent years, bitcoin In my opinion, ETH treasuries like BTBT (especially if you can get it at a discount like right now as retail investors sleep on this one) are the best risk-adjusted bet for asymmetric returns in the long run. Risks include execution, governance, crypto volatility, and broader black swan events.

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ETH pump coming was so unbelievably predictable... I can't believe they actually got people to panic the last few weeks.

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Eth getting ready for its next leg

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If ETH does well in Q4 like many think it will, treasury companies could 3-5x

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Eth is proof of stake. They just stake Eth for yield

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true, i just know both SBET/ETH will rocket once short pressure solved and ETH get into new ATH. Been waiting for 1 months for that move and still not happening, hopefully it happen before October.

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Oh hey eth you wanna ATH soon?

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ETH been trading flat for awhile. Needs a catalyst to beat the heavy short pressure above $4500. Many think it’s gonna start running the week of FOMC or after because of the rate cut announcement

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ETH needs to break 5k for that

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SPY is up nicely on inflation data, BTC, ETH, SOL to follow soon? I think it's likely.

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