Peter Thiel’s crypto exchange, Bullish, is gearing up for a massive initial public offering (IPO). The company is aiming for a valuation of over $4.2 billion.
IPO Details
Bullish plans to offer 20.3 million shares, priced between $28 and $31 per share. This could raise up to $629 million. A significant portion of the funds will be used to invest in stablecoins pegged to the US dollar.
Connection to BitMine and Ethereum
This IPO news follows another Thiel-backed company, BitMine, making headlines. BitMine recently announced it has amassed over $3 billion worth of Ethereum (ETH), making it the world’s largest holder of ETH. Their goal is to own 5% of the total ETH supply, mirroring MicroStrategy’s massive Bitcoin holdings. BitMine’s chairman, Tom Lee of Fundstrat, believes this strategy will create a similar “sovereign put” effect as seen with MicroStrategy’s Bitcoin holdings, providing significant financial stability.
Disclaimer: This information is for general knowledge only and does not constitute investment advice. Always conduct thorough research before making any investment decisions.
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