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Tom Lee: Cash and staking income will protect BitMine during market downturns
BlockBeats News, December 12 — BitMine Chairman Tom Lee recently stated that the Strategy company of Bitcoin encrypted treasury (DAT) establishing a $1.4 billion cash reserve is a "wise move." Although Strategy's stock price has fallen more than 50% over the past six months, this cash reserve will enable the company to continue paying shareholder dividends during Bitcoin price declines without selling its $61 billion Bitcoin holdings. Tom Lee pointed out that during the previous Bitcoin downturn cycle, Strategy's stock trading price was below its net asset value (NAV), and building a cash reserve was precisely to prepare for such situations. As the largest ETH treasury company holding over $12 billion worth of Ethereum, BitMine has not yet built
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