ETHZilla: Ethereum Treasury Strategy | McAndrew Rudisill & Avichal Garg
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Like, why wasn't this possible ten years ago? The credit guys, the debt markets are now willing to consider Bitcoin and ETH as collateral. And that was a thing that you didn't have five years ago. Like, you just didn't consider this worthy collateral. But now that, like, the ETH markets have gotten deep enough, all these convert guys are like, look. My mandate the reason my LP is as a debt guy give me money is to go generate yield and find these kinds of opportunities. Here's a new form of collateral to the tune of, you know, in the Bitcoin case, $2,000,000,000,000. In the case of ETH, $500,00
Welcome to Bankless. This is Ryan Sean Adams. It's just me today. David's out. So I'm here to help you become more bankless. We have ETHZilla on the podcast. This is Ethereum's monster treasury company. Alright? This is a new ETH treasury company that's launched. And I guess this is the fifth episode in our ETH treasury company series for those keeping track. We had Tom Leon, Joe Lubin, Andrew Keyes, Sam Tabar. Each of these conversations had a unique vantage point. I think you really have to listen to them all in order to get a sense of what's going on in this ETH treasury meta and what the f
Good to see you.
Thanks, Ryan.
Alright. I gotta tee up with this question. So Tom Lee, he's got 1,500,000.0 ETH in supply, that's $7,000,000,000. Are you guys gonna be able to catch Tom Lee? That's a question for you, Mac.
Alright. Ryan, we we are gonna make a really hard run at it, and the answer is, I I think we can do it.
You think you can catch Tom Lee. So what's the plan to do that? Like what's the ETH Zilla plan to go accumulate a whole bunch
of ETH?
We've been in the market buying ETH on a daily basis. We've got access to a billion shares of shelf availability on our ATM and we're in a very similar place to where Tom Lee was when he launched his BitMine Immersion deal and I believe it was late June when they got started. We just got started not even ten days ago, and we're already, you know, gonna be over a 100,000 ETH pretty quickly here. I we're on a run rate that very similar to what he he was on. So I think we have this same conversation in a couple months. We're gonna be we're gonna be substantially higher.
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