September 28, 2021

Block.one’s Bitcoin reserves are now worth double the entire EOS market cap

4f3fea07 e6df 4512 a1e0 d9ba2654db79

EOS has largely under performed during this crypto rally and has dropped out of the top ten by market cap, but one industry executive believes it could be one of the best risk/reward digital assets right now.

Chartered Financial Analyst and Arca CIO Jeff Dorman made the assertion based upon Block.one’s extensive Bitcoin holdings.

Before delving into that, Dorman observed that EOS is the only major crypto asset apart from XRP that has not made significant gains during this rally. Over the past twelve months, EOS prices have declined by 26%, with losses recently accelerating due to the resignation of CTO Dan Larimer.

But with plenty of “zombie projects” up 300% to 1,000%, he believes EOS provides a good risk/reward opportunity.

Block.one owns 140,000 BTC worthh an estimated $5.5 billion at current prices according to data compiled by a financial comparison platform Bankr.nl. The CFA compared the market capitalization of EOS with that of its Bitcoin holdings;

“At $2.77, the market cap of $EOS is $2.6 bn, which is only 47% of the value of their BTC holdings. That means by buying $EOS, you are actually buying $BTC at $18,771. Huge discount.”

Dorman stated that generating a Return On Investment, or ROI, from Book Value is essentiallyTitle: Block.one’s Bitcoin reserves are now worth double the entire EOS market cap
Sourced From: cointelegraph.com/news/block-one-s-bitcoin-reserves-are-now-worth-double-the-entire-eos-market-cap
Published Date: Fri, 15 Jan 2021 04:14:47 +0000