|
Feb 04
|
|
—
|
LONG
|
Cosmo Jiang
Portfolio Manager at Pantera Capital / Director at HSDT
|
"If there's a debt [DAT] trading at 0.5, you can get it back to 0.7 that's a 40% gain... shareholders are going to look out for what's best for shareholders." Digital Asset Trusts (like Grayscale products or similar closed-end funds) are trading at deep discounts to the crypto they hold. Two catalysts will close this gap: 1) Activist investors forcing liquidations/buybacks, and 2) M&A where strong DATs buy weak ones to acquire assets cheaply. LONG. Buying $1 of assets for $0.50 offers a safety margin even if crypto prices remain flat. Management teams refusing to capitulate; prolonged "crypto winter" widening discounts further. |
Unchained (Chopping Block)
Crypto Markets Are Down Bad. Are DATs to Blam...
|