I just made a pretty aggressive move on BMNR.
Sold all my shares and rolled the entire position into 100 August call options ahead of the upcoming Clarity Act.
Why you ask?
Main reason is I think people are underestimating how important this bill could be. The whole issue with crypto right now isn’t demand, it’s uncertainty. Nobody knows how things are going to be treated long term from a regulatory standpoint, and that’s what’s been holding bigger money back. If the Clarity Act actually gives a clear framework for what’s a security vs a commodity and how these assets are supposed to operate in the U.S., that removes a massive overhang.
I know how that sounds, but I’m looking at what’s building here and it feels like one of those moments where things can shift fast. You’ve got members of Congress openly adding crypto exposure, token usage across the board has been ramping up, and now big banks are actually building ways to use stablecoins instead of just talking about it. That’s a completely different environment than even a year ago.
On top of that, Ethereum is quietly getting accumulated pretty heavily by institutions and a lot of it isn’t even liquid because it’s getting staked and locked. That matters if demand keeps pushing because supply just isn’t there in the same way.
If that happens, I’d rather be positioned for multiple expansion in a short window vs just riding spot.
I am clearly seeing use cases and mass adoption of crypto based solutions once this passes. What do you guys think and why do you have conviction on this stock? I personally find this stock to have the great asymmetric risk out of any stock even better than Strategy due to Ethereum utilization framework.