The crux of the matter is their revenues will be cut in half in ~93 days. There are ~some~ miners who can operate slightly profitable at the current 0.08-0.09 TH/s hashprice, however most are not. You can assume breakeven is between 0.06-0.08 TH/s depending on the miner.
2/
Dec 21, 2023 • 7 tweets • 3 min read
So here's a little hunch with some free alpha. Let's see how it plays out...
$MSTR/BTC and $COIN/BTC are typically very correlated. Over the last ~2 weeks, the latter has moved higher while the former has stagnated. This tells me $MSTR is actively selling shares to buy BTC. 1/
Even w/ no new redemption requests, BX will have to gate withdrawals for at least next two months
But will there be new redemption requests? Odds are yes
BREIT's NAV of $14.71/share is only down -2.6% from Sept. '22 peak ($15.11) and still up +28.8% since Feb. '20 pre-COVID
2/
Mar 12, 2023 • 6 tweets • 2 min read
What's the correct phrase to use when you're beyond 'rock and hard place'? Spectrum of Fed options range from backstop only SIVB to all US bank deposits.
Regardless, economy will still weaken and risk assets will still fall
SIVB only, rest of regional banks get ran on
1/
Closer to the latter, still just bandaid. QT will persist. No matter what Fed does, banks will still:
- tighten lending standards (bad for credit availability and spreads)
- have to compete for deposits against treasuries so they don't get ran on (bad for bank profitability)
2/
Feb 1, 2022 • 16 tweets • 6 min read
1/ @maplefinance was launched 8 months ago, has grown to over $500 million in TVL and is tackling a $125 trillion total addressable market. Full stack below 🥞👇
2/ Before the internet took off, business incorporation and economic activity evolved from local/in person/brick and mortar. Soon enough companies were forced to “have a digital strategy” until today where the majority of new orgs are internet-native.
