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Bitcoin Reserves Of Block.one Stands As Twice The Worth Of EOS


This massive crypto rally going on recently hasn’t been as successful for some currencies as it was for others. One of the prime examples of this is EOS, as currency outright dropped out of the top-10 cryptocurrencies ranked by market cap. Even so, an industry executive isn’t scared in the slightest: He believes that this could be one of the best digital assets in terms of risk/reward at this time, in fact.

Possibilities For Safe Gains

Jeff Dorman stands as an Analyst of Chartered Financial, as well as the CIO of Arca. He voiced these opinions, and made use of Block.one as justification, particularly its large holdings within Bitcoin.

Dorman first pointed out that only XRP stands as the only other major cryptocurrency out there that hasn’t seen significant gains within these recent rallies. Granted, XRP has an SEC lawsuit hanging over it, with exchanges and institutions dropping it like a hot potato.

EOS, however, has other concerns. The currency has dropped by a factor of 26%, with the losses only accelerating thanks to Dan Larimer standing down from his CTO position.

Some Number Crunching

However, Dorman highlighted the array of so-called “Zombie Projects” that managed to gain anywhere between 300% to 1,000%. As such, he fully believes EOS holds the potential for netting in good opportunities in the risk/reward front.

As for Block.one, the firm owns a staggering 140,000 Bitcoin, which is worth around $5.5 billion at today’s market rates. This information was compiled by way of Bankr.nl, which is a financial comparison platform. The CFA promptly took the time to compare the market caps of both its Bitcoin and EOS holdings.

Through doing so, it was revealed that the EOS holdings stand at $2.6 billion, more or less. Crunching the numbers, this means that EOS only consists of 47% of the Bitcoin holdings. A quick bit of math reveals that the purchase of EOS would mean you’re buying Bitcoin at $18,771 apiece, which is even less than half-price in today’s rates.

Very Little Things Won’t Bring A Win

However, Dorman was quick to highlight that both the EOS and Block.one teams haven’t done much to instill the confidence needed for investors to plan on big moves. In order to gain a profit from these sort of investments, investors need to bet that the management of these firms won’t do something stupid with the capital, and neither party are showing particularly reassuring results.

Even so, Dorman gave a few suggestions as to what Brenden Blumer, the CEO of both Block.one and EOS, could do to remedy this.  The man needed to return the capital, or start generation value for token holders. On the other hand, Blumer could try and gear up for massive lawsuits leveled against him if he couldn’t do the first two. Any of these actions would unlock the value of these assets, however, closing the gap between the Bicoin and EOS market caps on Block.one.



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