News linked to both this project and an event.
中国机器人制造商 Unitree 即将科创板上市，Hyperliquid 预 IPO 永续合约隐含估值达 380 亿美元，较 9 亿美元 IPO 估值高出逾 4 倍，杠杆头寸面临清算风险。
Odaily Planet Daily Report: Arthur Hayes stated on the X platform that his article "Yen-quake" will introduce how Buffalo Bill Bessent plans to manipulate the dollar-yen exchange rate and restart the money printing press. Arthur Hayes said that over the past decade, the continued weakening of the yen has driven gains in global asset markets, but this situation will eventually come to an end. The yen is the lowest-valued currency globally and is also a point of contention among the United States, China, and Japanese everyday voters. There are three ways to resolve the yen issue, but the U.S. Treasury and Japanese politicians tend to favor only one of them. He will explain the operating mechanisms of each yen appreciation method and why the final option is the preferred approach; he will then discuss how to execute the third option at the political level. He stated that as dollar liquidity rises significantly, Bitcoin and cryptocurrencies will rally. The three options include: 1. The Bank of Japan sharply raises interest rates, causing the dollar-yen interest rate differential to disappear, at least on the short end. 2. The government persuades domestic institutions and public bodies such as GPIF to change their investment mandates, selling overseas assets and buying local assets. 3. Preferred option: The Japanese Ministry of Finance conducts repurchase transactions of its U.S. Treasury holdings with the Federal Reserve in exchange for dollars; it then sells dollars and buys yen in the foreign exchange market. Arthur Hayes said that before getting into the details, speculators should consider why yen appreciation is being discussed now. Over the past few decades, many have claimed that the yen was about to appreciate and trigger a global unwinding of carry trades. Two weeks ago, monetary policy officials from the United States and Japan conducted a joint exchange rate manipulation operation, though they euphemistically called it intervention. U.S. Treasury Secretary Buffalo Bill Bessent indicated a desire to raise the counterparty limit for the FIMA repo facility, enabling Japan's Ministry of Finance to use its massive asset reserves to defend the yen. Japan's Ministry of Finance also stated it is working closely with the United States to push the dollar-yen exchange rate lower. Relevant officials are signaling to the market their support for a shift in global currency relations, so the market must pay attention to this.
Odaily reports, Deep Value Memetics posted an analysis on X platform, pointing out that Micron Technology may currently be exhibiting an atypical semiconductor valuation structure: as earnings per share (EPS) rise, the valuation multiple the market assigns is simultaneously expanding.Currently, Micron trades at approximately 22 times PE, below the S&P 500 (SPY) average of about 22 times, and also significantly lower than the semiconductor index (SOX) at roughly 26 times. In previous cycles, analysts typically assigned lower valuation multiples during the peak earnings phase. However, as the "de-risking" process advances, this "show-me" narrative is shifting. The market may be entering a new phase of "EPS growth → valuation multiple expansion," leading to exponential valuation revaluation. If EPS reaches $200 and is assigned a 20 times valuation, Micron's stock price could point toward the $4,000 level.
According to an analysis published by Deep Value Memetics, Micron Technology may currently be exhibiting an atypical semiconductor valuation structure: its earnings per share (EPS) are rising while its market valuation multiple is simultaneously expanding.
According to CNBC, after listing on the Nasdaq at an approximate valuation of $2.6 trillion, SpaceX quickly became the world’s fifth-largest publicly traded company and entered a market-cap ranking race with Amazon. However, pricing in the options market suggests it may take considerable time for SpaceX to climb into the global top three—or even claim the No. 1 spot. Currently, SpaceX’s market capitalization remains significantly below that of third-place Alphabet and second-place Apple—both valued above $4.4 trillion. To overtake them and become the world’s second-largest company by market cap (just behind NVIDIA), SpaceX’s stock price would need to rise roughly 70% to $340 per share. Based on implied probability models derived from options-market pricing, the likelihood that SpaceX reaches this target price before July 2028 stands at approximately 50%. If the goal is to become the world’s largest company by market cap—surpassing NVIDIA—the options market assigns a roughly 38% probability of achieving this by June 2028, rising to about 41% by year-end 2028. Analysts note that options prices reflect the collective market expectation regarding future trajectories. Higher-strike options carry an elevated uncertainty premium, indicating that—even though SpaceX possesses a compelling long-term growth narrative—reaching the pinnacle of market capitalization is still viewed as a high-difficulty, long-duration endeavor.
Delphi Digital stated that Strategy has primarily relied on issuing stocks at high premiums and low-cost convertible bonds over the past years to secure funds for continuously increasing its Bitcoin holdings. However, this financing window is now essentially closed.Delphi points out that common stock financing is currently constrained by the Market-Adjusted Net Asset Value (mNAV), and new convertible bond issuance has also been suspended. STRC has thus become its primary financing channel. Since STRC has a lower repayment priority in the capital structure compared to convertible bonds and preferred shares, it requires a high yield of approximately 11.5% to compensate investors for the impairment risk they bear.Delphi believes that Strategy is currently continuing its Bitcoin accumulation plan by paying higher financing costs, buying time to address the large debt repayments maturing in 2028.