u/Anxious_Noise_8805

Do you guys actually expect it to go up or is it just hopium someone buys your bags at this point? I already dumped my BMNR at $31 and doing much better with my AI related stock investments. Good luck everyone. BMNR lacks fundamental value, it’s a wrapper on top of some computer bits that have no reason to gain further value.

People are realizing that AI infrastructure is a better investment, just look how much AMD, MU, AVGO, GOOGL, NVDA, etc. has gone up. Also these are profitable companies that can buy back their own shares. Ethereum gets negligible amount in fees relative to the market cap and has net dilution.

There is nothing to really drive up the Ethereum price. Stablecoins compete with Eth, because they are a better way to do remittances or payments than to pay people in Eth. Also for example if you send someone $1 billion in USDC, it costs only $.15 or so Eth which isn’t good for the Eth holders. If an asset doesn’t provide anything to the holders other than hopes and prayers someone wants to pay a higher price, it’s arguably in a bubble. Ethereum sounding like a cool and innovative thing doesn’t mean it needs to have $300 billion of marketable value.

Also all the gambler types are going to prediction markets and stocks. Crypto is left by the wayside as there is nothing to really drive up the price.

I sold all my BMNR at $31 (bought in at $33) and sure glad I did after really analyzed the investment thesis. My AI infrastructure investments are doing much better. I made AMD my largest position a year ago and now it’s up 4x. Meanwhile Ethereum is trending sideways for several years. It’s fully predictable if you really look into it. I don’t want to go too much on a tangent but on a long enough timespan I think the average IQ of bmnr and eth investors is dropping because the only people still investing haven’t figured out there’s better stuff to invest in, so either they are midcurve IQ or have some sort of sunk cost fallacy.