Tom Lee stated that as part of the "BMNR Moon Landing Plan" strategy, BMNR acquired 13.7 million shares of $OCTO (WLD Microstrategy Holdings) at a price of $1.46 per share, with a total investment of $20 million. With OCTO rising 4834.83% during trading, the stock price is currently reported at $71.56, meaning BMNR's 13.7 million shares of OCTO have an unrealized gain of $940 million from this investment transaction. However, Brother Lee shouldn't celebrate too early, as this is still just paper money on paper. Generally, PIPE financing for cryptocurrencies has a lock-up period of 30 to 45 days, and by the time it unlocks, the stock price is likely to have undergone a significant correction. I learned that when Sbet announced its PIPE financing transformation into ETH Microstrategy, the stock price once surged by four to five times, but ultimately, based on the stock price at the time of unlocking, the participating investment institutions in the PIPE financing overall made three to...
This is correct @amitisinvesting
$BMNR purchased 13.7mm shares of $OCTO for $1.46 per share, or $20 million in total, as part of BitMine's 'moonshot' 🌙strategy
This directly benefits BitMine shareholders as this investment is currently worth $1.1 billion to $BMNR shareholders
Congrats @BitMNR
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