Short Cheap RIOT Put Contracts
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FYI - see Citron's report on RIOT. Their bitcoin holdings are worth 22/SH and if they bought bitcoin instead of investing in an unprofitable mining business, their NAV would have been 226/SH - this was BTC prices before the drop.Many in crypto know that Bitcoin has a difficulty equation, so basically as the prices go up the margins of mining do not expand significantly.
As we have seen in many asset classes since the pandemic - PEOPLE ARE NOT DOING THEIR RESEARCH and bidding up really certain assets to levels of insanity... the list is so long. When this happens, the easy money is to be made on the way down, but those that are bearish are looked at like they are crazy (which is a good thing). The longer the time horizon, the more efficient the market becomes.
This to me is an example of what Buffett says - be fearful when people are greedy and greedy when people are fearful.
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Btw, the title is incorrect. Should be BUY Super Cheap RIOT Put Contracts
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.