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RESTOCK LIVE 🔥 • $115K Gold Star Pikachu (Pop 121) • $100K Fissure's Deoxys Lenticular (Pop 38) • $115K Gold Star Pikachu (Pop 121) Chases this rare only on @phygitals Happy hunting to those who collect 😎

"Capitalizing on The Biggest IPO Season In History" $PURR calls thesis by @MoneyPrinter0x. historically, mNAV in a bull market lies between 1.5x-2.3x, re: $MSTR $BMNR its pretty obvious by now that $HYPE is the main thing of this coming cycle, the question is: "whats the ceiling, and how much has been priced in" 1. so far, the market is in progress of pricing the forward-looking adoption of equity perps on hyperliquid eco, which is the primary driving catalyst of the onchain finance cycle. 2. how much has been priced in: not anywhere near full. the hip-4 launch (fortunately unoptimized at first iteration if not there would be another pump on launch getting rid of opportunities of entry) provides a good landscape for entry right about now. why now and not immediately after the hip-4 launch retracement? 3. because, people don't realize this but the $CBRS IPO today is the first market-validated proof that $HYPE has found PMF not just on equity perps but on pre-IPO trading as well. $CBRS, an IPO with mass mindshare among those outside of crypto and those within crypto SUCCESSFULLY brought price exploration and with it, mindshare, to $HYPE. today is the first instance of the market choosing $HYPE as the Primary Venue of Pre-IPO trading. what are the criterias of Pre-IPO trading success? -> Mass mindshare of the asset being IPO'ed. -> Mass buyside liquidity propped up of the asset being IPO'ed. -> Mass telegraphing and leadup to the asset being IPO'ed. Guess when is the biggest IPO season in history? Q3-Q4, This Year. SpaceX, 1.75Trillion. Anthropic, 1.2Trillion. OpenAI, 850Billlion. what we saw today with $CBRS, how it attracted even more mindshare to $HYPE as the best venue for pre-IPO trading, is only but a drop in the bucket. $CBRS IPO valuation is only 40billion, the three companies above alone are nearly 100x that at 4trillion. the mindshare and volume which would be routed to $HYPE as the primary venue of Pre-IPO price exploration & trading, assuming no black swans, is most likely going to be nothing like we've seen so far. if you think that the cbrs ipo today is bullish hyperliquid, know that we have literally 100x of that already lined up in the next two quarters. $PURR is currently trading at a very rare ~1.2x mNAV to $HYPE. in other words, you would be buying it at distressed mNAV levels right before us entering the biggest IPO season in history where the index asset $HYPE is the market-chosen Pre-IPO trading venue of choice. mNAV will most likely not be 1.2x in such conditions. and mNAV wont be below 1x either. hence for every % $HYPE gains, $PURR would multiply that as mNAV expands. the play is Q3 and Q4 in-the-money calls on $PURR as an asymmetric bet while mNAV is sitting near-parity. if you want to hedge, OTM hype puts as insurance is ok. HYPE is currently $43 and PURR is $6.80 (mNAV = ~1.2) if HYPE goes to $80, then PURR goes to 25$ (mNAV = 2) above numbers are theoreticals, but you get the point that mNAV expansion would reward HYPE bets, and right now we're sitting at mNAV floor - mNAV wont go below 1 in these market conditions. in the case that it does, it would be because of PURR selling HYPE to pump its own stock - so PURR price is protected. the only other failure mode is if some unpredictable black swan happens and brings hype price so much that even PURR selling hype to protect stock price cant save it, to hedge for that one can try hype otm puts - but personally, I wont engage in such sins in any way - the trade comes out almost net +ev. hyperliquid is set to dominate. With all things being said, I still think that holding $HYPE itself is the BEST vehicle for long-term growth expression on HL. But for those of you degens who want a bit of excess risk on top of a $HYPE bag in exchange for convex returns, then purr calls is the instrument for you - who knows, we might even get new stock-native entrants into the HL ecosystem itself. this is how we can turn the biggest IPO season in history into a tradeable play. bullish on Hyperliquid and Onchain Finance. MoneyPrinter0x NFA DYOR. as always, manage risk!

@kingbtc i sent like 50k to you like over a year ago what about that