I refuse to believe that we are entering the bearmarket
I know it always seemed structurally cheap but you can literally buy $SKY at:
- 460M of revenue
- 150M of earnings (6.75 PE to FDV)
- 300k of daily buybacks
- 16% dividend yield due to stakerate being at 60% reducing PE for stakers drastically
--> Not your PoS dilution rewards
- Sky is somewhat dependent on the fedfunds rate but way less than any genius compliant stable
At those prices you get any optionality for free while they are announcing new endeavours every month
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