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All right, guys. Beminor took a really big dump on Friday and I wanted to get this out because I see a lot of bad information out about what really happened. In fact, a lot of wrong information from all sources online, offline, everywhere. And let's talk about it cuz it was down about 10% down to 19 87.
That was a good year I from what I understand. But let's look at the let's look at the fact cuz no one's actually reporting exactly the reason it dropped, which I'm not sure why, but I'm going to point out for you guys exactly why it dropped. If you look now, the MNAV for Beminor is at .90. It should be at $22 right now cuz ETH really didn't fall that much.
ETH fell from about 2300 to about 2187. It's about $2200. It's basically at support, which is what I told you guys. Resistance will eventually become support, which is basically what we've seen. And I've also told you guys over and over again, ETH is not going to move anytime soon. It just isn't. And I'm going to explain to you on my next video.
So make sure to subscribe and hit the notification when it's going to move. I've been in crypto for over 10 years. It's not going to move right now. So if you are buying Beminor, you you're kind of stuck in it. You're going to be holding on to it. Now, is that a bad thing necessarily? No, but it's probably not the best move.
Now, there is a 10% uh in the middle now. Basically delta, whatever you want to call it, right? Because this should be trading at $22, not at 1981. It really shouldn't be that low. Okay? It shouldn't be at this price. But it is. It is there's nothing you can really do about it. Now, if ETH moves up to 22, 2300, will this go back up to 22, 23 dollars?
Well, we hope so. We don't know. So what caused all this? Let's let's really get into it, okay? [snorts] This This is what caused it right here. Um Beminor is not directly diluting, but what they did was they added Okay, sorry. Bitmain Immersion filed to register resell of 501,000 common shares held by existing shareholders.
That is it. That's what freaked out the market. This is not issuing new stock to raise fresh capital. It is registration. So, current holders holders can legally resell their shares in the open market. So, people fear that the insiders are just going to jump ship, sell their stock, and give you guys all the middle finger, and it'll go to zero.
No, I mean I don't think that's going to happen, but this is what happens over and over and over again in a lot of these in a lot of these projects, especially newer ones. Basically, I mean BM and R was at, you know, not that long ago. Was it Was it 2377? $24 knocking? And it should be valued, even with ETH going down a little bit, it should already be valued at $22.
There's two ways of looking at it. Do you arbit? Do you go, "I'm going to buy it for $19 hoping it catches up to the $22?" Because this generally, every time it's got this low, and it has been other times, 0.90 NAV, it has gone back up to 0. 92 93 94 95 and gone almost back to 98. So, there has been portions where it's gone down, it's come back up, it's gone down, it's gone back up.
Is that going to happen here? I don't know. I personally don't care, and I'm going to explain to you guys why. So, let's go over a few more things about ETH. So, I'm going to help you guys understand what's about to happen, cuz this is just tied to this is an ETH play, leverage ETH play play. Does Is everything else looking good on BM and R?
Okay, that's really our concern. Let's see. They got 5.21 million on their last filings on May 11th. ETH, they got 201 Bitcoin, 775 million dollars in cash, and they got their moonshot exposures. Okay, I mean everything looks basically the same it did the day before on Thursday. It's just worth 10% less than it should be.
Um Tom Lee just bought another 89,000 Bitmain, I mean ETH. You know, they said they're going to slow it down, but they didn't. They're They're still buying at a really good clip. So, they got even more. Um and this is where I'm going to get into real quick. I got this tracker up which tracks all the stuff, but this part I'm going to get into, okay?
This is the yield. The yield has a bigger impact on ETH than it does on Bitcoin. That's why you saw ETH actually fall percentage-wise a little bit more than Bitcoin. Why is that? So, I'm going to bring this up so you guys can see. The 10-year yield went up on Friday, also. So, this wasn't great. Now, did this have an impact on ETH or BM and R?
Yes, it had an impact because also MicroStrategies was down more than the price of Bitcoin. Why? Because the yield basically makes things risk on or risk off. And as it goes higher, it makes it more risk on, especially the 10-year yield. This was about 4.1, 4.2 a couple months ago. Now, it's at 4.5.
This is not good. This is moving the opposite direction of where it needs to be. It's the same thing with the 30-year and the 2-year. This is These are too high. I would like to see this come down to four. I would like to see this be about four and a half. I would like to see the 2-year be like three and a half minimum, okay?
So, the problem for ETH is it cuz it's a considered a risk on asset, it needs really, really low yield, and we're not getting that right now. And that is a problem. That is going to stall it. Okay, do not think for 1 second ETH is going to be able to overcome it or Bitcoin. It will not. Yeah, Bitcoin could go to 85, 86, 87.
It could go there, maybe even hit 90, but it will not be able to overcome, go to new highs with yields this high. It just historically have hasn't happened. Now, last time in the bull run it happened, but that is an anomaly cuz of the ETFs and the inflows and there's still a lot of inflows and ETFs coming in, but it just normally doesn't happen.
You need to have lower rates, and with Kevin Warsh there now, um or Ken Warsh, whatever his name is, the new Fed chair, we're hoping for rates to slowly come back down. We are hoping for that to happen. It needs to happen because oil is also a problem. We're still at war. There's still a lot going on geopolitically.
You see oil at 101. It's too high. Came down to 87, goes back up to 101. It came down to uh what is this? 80, it went all the way back to 104. So, the the the the markets are trying to figure out rates, oil, pressure, inflation, all of this. Right now, this is not good. So, that you're like, "Well, what do I do?
What do I do?" Well, you can either buy or hold for the long term. I don't particularly care. A lot of you guys know, I'm just liquidity farming my ETH, a lot of my ETH. Um that's what you can do, too. And that's why I hold majority of my money in ETH and not BMNR. BMNR looks like a good arb here, but what is liquidity mining?
This is what I do. I go on a systems like Max five, which I'm a co-founder. I put my ETH in here, and I earn. I had this in here for 86 days. I've earned $600 off of my $1,500. I'll be break even on this position in another 120 days, and I and I'm earning more ETH. So, all I'm doing is I'm just stacking more ETH.
Can you do this with your BMNR? No, you can't. That's why um I basically own mostly ETH, not BMNR, because I want to earn I want my tokens to earn me money. Now, with BMNR, I guess you could do like covered calls and all that kind of stuff, but it's kind of risky. And all the liquidity mining is you earn fees when people are trading on Uniswap or Aerodrome or PancakeSwap.
And the fees are quite good. That's all I'm doing. That's all I'll ever do. That's I've done in the last bear market, and I actually love these sideways markets. This is where I make the most amount of money. I have my BTC in here, too. I earn 90%, which doesn't sound like a lot compared to my 166% of ETH, but it's steady.
It's steady income. I'll take the $600. I mean, in only what? 55 days? I'll take it. I'll take it and I'll reinvest it. That's what I do. I compound it. I make even more on it. I blow up my account. I make it even stronger. So, by the time the bull run comes, I will make some serious income. That's what I do.
You don't have to do that. You can just hold BNB until the end of time. But, it's not going to go up now. And I'm going to explain to you guys in my next video. And I'll put the links if you guys want to do anything with Maxx Finance. There's a whole learn section and a video section where you can learn about it.
Uh there's some actually really good videos in the whole learn section. And you can come and you can liquidity farm. It's like being Jane Street or like Goldman Sachs. You basically become a market maker and you get paid for it. And that's what I do. And I don't really care. I just sit here. I I don't care the market, you know, they're like a lot of people like, "Oh, the market dumped.
Are you afraid?" I'm like, "No, I I made money today." They're like, "Oh, what?" Yeah. Everyday, I make Well, this is one of my accounts. With my all my other accounts, I make about $300 a day. That's $9,000 a month I make off of my crypto, guys. Okay? Think about it. I make $9,000 a month. This is just one of my accounts, okay?
The other one is bigger. I have more ETH. I have a smaller ones. I have some test ones. Uh some fun ones, you know? So, if you think about it, I don't really care where the price goes. I don't really even give a damn where the price goes because I have a strategy. Do you have a strategy? So, if all your strategy is is waiting for the price of BNB to go up, you're not probably going to make money till the end of the year.
Be straight up with you. And I'm going to explain in my next video. Like I said, make sure to hit the notification bell exactly when it's going to go up. I might be off by a month or two, but I'm generally I'm I've been in crypto for over 10 years. I'm generally right. I'm generally right in what direction.
I was right in direction of Bitcoin in the last cycle and ETH in the last cycle. I will be right on this one, also. Generally, I will be right. I might be off by a month, maybe two, but I'm generally in the right direction of where it is going. The theory and the direction is is fine. We're not going anywhere, and I keep saying that over and over and over in my videos, and people keep saying and emailing me and DMing me, "What?
Why? Why?" And I'm like, "Well, let me explain to you guys." And I keep saying it's the crypto cycles. You have to understand the crypto cycles. It's not like the stock cycles. My stocks that I have are different than my crypto. Riley, for example, is one of my largest stocks. It's up 3x since I bought it, okay?
And it's outperformed ETH. Will it continue to outperform ETH? Yes. Riley will outperform ETH. Most of my stocks, S&P, will outperform ETH. When will that change? End of the year. I will explain why. So, you guys have to understand you either going to hold BMNR, I would say you you should own ETH because you can liquidity farm it at least and make some money on it.
If you're going to own BMNR, it's going to be a tough tough time. Maybe no other influencer is going to tell you that, no other YouTuber is going to tell you that, but it's just facts. I've been in this for a long time. It will eventually go up. It will eventually go up, but you have to understand something.
ETH and Bitcoin, generally, there's about a 10 to 15 days per cycle that they make their biggest moves. That's it. So, you're basically holding on to this asset so you can make money on those 10 to 15 days and hope you play it right. That's literally it. That's the game. And it's insane, and you might not even know this, but that is how these cycles work.
So, I will explain to you guys in my next video how it is, how they work, and you can even go to the chart yourself and kind of see that play out over and over and over again. And you can kind of see it right here. You can see it right here. You can see it right here. It's the same play over and over again.
This is what everyone's waiting for. And literally, they happened within 10 to 15 days. You know? You don't have a lot of time even to get out. So, you have to understand what is coming for ETH. Now, I do believe ETH will be a little bit more stable going up. It might do more of a ladder like here like uh Bitcoin does more of a ladder.
It doesn't explode as much. But, ETH it has got some other things going on which I have to kind of explain versus Bitcoin. But, ETH can also be manipulated a lot easier. And a lot of people do believe Jane Street is manipulating ETH and not Bitcoin anymore because it's an easier asset to move, which is also a possibility why you're seeing it kind of move a little bit faster lower than Bitcoin.
So, we got to go through all that stuff. There's a lot to go through, guys. There's a lot. So, hopefully I can explain that to you guys. But, right now, BMNR, if you're if you're in it, I guess you're in it. There's better plays. I'm I'm not going to lie to you. There's better stuff to be in. It's not going to probably go anywhere.
It sucks it's at 1981. Um I mean, could you sell it and get into something else? Yeah, you could. I probably would real realistically because it's not going anywhere. And I've said it over and over again in all my other videos. Now, if you have faith and you want exposure to ETH, it's probably the best thing to have exposure to.
Long term, it's probably great. And you're a long term holder, you're going to hold it for the long term. Nothing wrong with that. If you own ETH, you should be liquidity farming it cuz it's not going anywhere. It's just not. Liquidity farm it. Earn some passive income. You can go less risky, larger ranges, make 30, 40, 50% a year on it.
It's not going anywhere. And when you start to see it heat up, withdraw your money from the liquidity farms and then just hold it if you think. A lot of people don't even do that. They just let it ride and go wider ranges, which we can explain to you guys what to do. So, anyways, that's what's going on.
I think this was an overreaction. I think BMNR will probably settle by next week. It should relax. It should probably come back up. The 0 9 0 NAV is too low. It's just too low. It's probably going to come up about 3, 4, 5% by the end of the week. It'll steady itself and I think things will be okay. But for the most part, don't expect it to go up that much.
You have a lot of macro and micro things that are working against ETH. Until those things get fixed, like I've said, until those things in the crypto world and the cycles kind of start to align, which isn't going to be anytime soon, this is where we will be sitting. You're going to be sitting between 20, probably $24 for a long time.
Understand that. If you want something that's going to move, you might have another stock, another play, but consider it if you if it's not fast enough. But it's not going to go anywhere. Just understand that. But at the nowhere near the end of the year, it is going to make a move. It is going to do something like this and it's going to be violent and explosive and insane.
And that's what ETH has always done when you least expect it. And there and the setup for that is happening now. And the it's a setup like right here is a setup for right here. It's the same. This is what we're going through. This is it. This literally consolidated, if you look here, June 22nd, it didn't really start to move till October 23rd.
October 23. So it took over a year of consolidation before we went out of the bear market. This is our kind of our bear market right now. So I'm going to explain all these things. It took over a year and that is absolutely a possibility of why I keep saying if we're going to move, it's not going to happen till the end of the year.
And it might even take longer. But once we ended up into the bull market, you saw it went. And it will go. It's just a matter of time. It's a waiting game. The question is, do you want to wait? Do you want to earn while you wait? Or do you want to go somewhere else and then come back? Those are the questions.
Those are personal decisions you have to figure out. All right, guys. Best of luck out there. Talk to you soon.
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