Kerrisdale Says ‘Tom Lee Is No Michael Saylor’

[tradelikepro]

Kerrisdale also took aim at BitMine’s chair Tom Lee, arguing he lacks the cult-like following of MicroStrategy’s Michael Saylor, whose persona has helped sustain investor enthusiasm.

The firm added that BitMine’s ETH-per-share growth is slowing, disclosures are becoming opaque, and its premium to net asset value has collapsed from 2.0x in August to 1.2x by September.

Kerrisdale stressed its position is not a bet against Ethereum, but against paying a market premium for BitMine.

[alex10]

That’s a bold statement. Both have very different strategies — one’s focused on data analytics while the other bets everything on conviction.

[Rimon Khan]

Interesting comparison. Saylor plays the long game with massive conviction, while Tom Lee leans more on technical forecasts and short-term cycles.