WULF has become untethered from CIFR despite having a very similar business and operating model. Interesting relative value opportunity. I expect them to re-converge as they have several times since 2024. WULF is currently $22.53 and CIFR is $18.22. Likely meet at $40-50. Mark it
🧵 SHORT $IREN — The Neocloud Mirage
A multi-billion dollar Bitcoin miner rebranded as an “AI infrastructure” play, trading at $48 on a $16B mkt cap.
Strip the narrative and you find: missed numbers, mass dilution, single-customer concentration, and the weakest positioning in the neocloud peer set.
Here’s the bear case 👇
Thank you @TheBitcoinConf for letting me sneak fellow Bitcoiner @adriangrenier on stage to announce that Self Custody is becoming a TV series! This is about the people inside this movement told in a way only a culture defining show can.
Not just for Bitcoiners. Great storytelling is how we bring the next wave into our world.
Great sharing a stage with King of Cringe the champ @HenryCejudo and Director Garrett Patten. Bitcoin is going to Hollywood!
I’m hearing some anxious $IREN bulls already talking about rotating out of $IREN into the “next play”
Too soon.
$IREN hasn’t even overtaken $NBIS or $CRWV yet…
I’m happy to entertain other opportunities once something actually happens in the big leagues.
$200 first.
Quick and friendly reminder:
If you can get this fraudulent scam imposter account removed that Instagram has allowed to stay active (with a blue check), I will pay you $10,000 cold, hard cash with proof that you were the one who successfully did it.
instagram.com/mikealfred__