With its higher volatility and native income mechanisms, Ethereum (ETH) is becoming a better solution for listed companies' reserve assets, challenging the dominance of Bitcoin (BTC). MicroStrategy achieves a market capitalization of over $100 billion by holding BTC, but ETH asset management platforms such as Sharplink Gaming and BitMine use ETH's unique properties to provide more efficient arbitrage opportunities. Key evidence includes: ETH's high volatility (5 times the historical volatility is BTC) makes convertible bonds (CB) more attractive and improves the profits of gamma trading strategies; ETH's native returns (such as pledges and re-pled) provide stable returns for preferred stocks, while BTC relies on synthetic income strategies; ETH asset management companies can also promote validator decentralization and fight the centralized risks of giants such as Lido. Unlike BTC's MicroStrategy monopoly, multi-platform competition in the ETH field (such as SBET and BMNR) is conducive to ecological development. ETH's financial model combines MicroStrategy's capital efficiency and Lido's return mechanism, and is expected to have a market value of more than $30 billion in Lido's size in the future. #Ethereum pledge income#Institutional arbitrage#Cryptocurrency volatility#Gamma trading strategy#Ethereum convertible bond#Crypto reserves of listed companies#ETH preferred stock#MicroStrategy case#On-chain native income#Verifier decentralization becomes a member of this channel and you can enjoy the following benefits: https://www.youtube.com/channel/UCO5ER7iDBK62VMbbFQRkBZg/join Welcome to "Coin Emperor BD"! Here is your "no threshold" class for understanding virtual currencies, blockchain, Bitcoin, Dogecoin, and even WB3.0. We are not telling you how to "mine" and make money, but we will take you deep into the real "minerals" behind virtual currencies - how technology, trends, markets, and even policies affect your wallet! From the birth of Bitcoin to the "earthy" emoticon culture of Dogecoin, we bring all these "virtual things" to you, and they are easy to understand without losing depth - allowing you to understand the truth in the currency circle in seconds. #btc #Bitcoin #Virtual Currency #Investment Analysis #Cryptocurrency
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