Cory Klippsten examines Tether SPAC valuation against Bitcoin holdings
@coryklippsten: Tether SPAC valuation analysis
Cory Klippsten has closely analyzed the financial metrics surrounding Tether's SPAC, $CEP / XXI, highlighting a notable valuation based on its Bitcoin holdings.
Currently trading at 6.35x net asset value (NAV) over its intended Bitcoin investments, the $CEP SPAC reflects a complex valuation landscape. The market capitalization stands at $703 million, translating to a fully diluted $CEP valuation of $26 billion, when dividing by the public float ownership and total Bitcoin amounts. This valuation is compared to MicroStrategy's $107 billion benchmark.
Such insights suggest significant investment interest and speculation in the intersection of SPACs and Bitcoin, illustrating broader trends in financial markets grappling with cryptocurrency integrations.
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In the previous news, tweet author Cory Klippsten discussed the influence of Bitcoin on modern financial ecosystems.
