Bitcoin mining sector is 'sort of a scam': Kerrisdale Capital

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Bitcoin Mining News

Kerrisdale Capital,Market Domination

Shares of Riot Platforms (RIOT) are moving lower after Kerrisdale Capital came out with a call to short the company's stock. Kerrisdale Capital CIO Sahm...

) are moving lower after Kerrisdale Capital came out with a call to short the company's stock. Kerrisdale Capital CIO Sahm Adrangi joins Market Domination to explain the call.

Yeah, I mean, I think our investment thesis is that this sector is just not going to be around in five years. It's not necessarily um technical, technically, um you know, a complete uh fraudulent illicit actions. They each month, uh Each of these miners, including it, get less and less Bitcoins even as they're plowing all of the cash that they're raising from shareholders back into buying more computers.

So if, well, you know that way, we don't have a view on whether Bitcoin goes up 100% or goes down 50%.

 

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