Hey there, meme coin enthusiasts and blockchain buffs! If you’ve been keeping an eye on the wild world of crypto-related stocks, you might have stumbled across a recent tweet from Vlad Avesalon that’s got people talking. Posted on July 9, 2025, at 18:23 UTC, Vlad expressed surprise at how long it took for the media to catch onto a trend he flagged a month ago: the overvaluation of stocks like Bitmine Immersion Technologies (BMNR), which he claims is still trading at an 80% premium. Let’s dive into what this means and why it’s sparking conversation on X.

The Tweet That Started It All

Vlad’s tweet quotes a thread from Laura Shin, a well-known crypto journalist, who highlighted how certain crypto treasury companies—like Bitmine—experience massive stock price drops after raising funds through Private Investment in Public Equity (PIPE) deals. Vlad’s take? He’s shocked it took so long for this to hit the headlines, especially since the info was “fairly public.” He points out that these stocks trade like memecoins because there’s no easy way to short them, driving up prices artificially.

What’s Behind the Overvaluation?

So, why does Vlad think BMNR is 80% overvalued? Let’s break it down. Bitmine, a company dabbling in Bitcoin treasury strategies, saw its stock surge after announcing a PIPE deal—similar to what we’ve seen with other firms like SharpLink and Upexi, as noted in Laura’s thread. These PIPEs involve issuing new shares to investors, which pumps money into the company but also dilutes the value for existing shareholders. When those new shares hit the market, a “sell wall” forms, causing prices to crash—sometimes by 70% or more, as seen with SharpLink after its Ethereum treasury move.

Vlad ties this to a lack of short-selling options. Short selling is when investors bet a stock will drop by borrowing shares and selling them, hoping to buy them back cheaper later. But with limited short interest in stocks like BMNR, there’s no pressure to bring the price down, letting it ride a memecoin-like hype wave. This creates a bubble that, according to Vlad, is ripe for a burst.

A Month-Old Prediction Comes True

Vlad isn’t new to this game. Back on June 3, 2025, in another tweet, he analyzed SharpLink’s (SBET) valuation post-PIPE, predicting its premium wouldn’t hold. Fast forward to June 12, when Steven @Dogetoshi reported SBET’s shares tanking 70% after hours as private placement participants filed to dump their shares. Vlad’s follow-up tweet confirmed his hunch: the premium wasn’t warranted. Now, he sees the same pattern with BMNR, suggesting history might repeat itself.

Why It Matters to Blockchain Practitioners

For those in the blockchain space, this is more than just stock market gossip. Companies adopting crypto treasuries—like Bitmine with Bitcoin or SharpLink with Ethereum—are betting on digital assets as a new economic backbone, as Consensys touted in their SharpLink announcement. But the PIPE strategy’s volatility could shake investor confidence in these experiments. If BMNR’s 80% overvaluation corrects, it might signal broader risks for crypto treasury stocks, affecting how practitioners approach tokenomics and investment strategies.

What’s Next for BMNR and Meme Stocks?

As of 03:29 AM JST on July 10, 2025, BMNR’s fate hangs in the balance. Vlad’s insight—that a few ChatGPT prompts could’ve spotted this trend—hints at the power of data-driven analysis in today’s markets. Keep an eye on stockanalysis.com for updates on BMNR’s moves, especially after its recent public offering at $8.00 per share. Will it follow SharpLink’s plunge, or can it ride the meme stock wave longer? Only time—and maybe a short squeeze—will tell.

For now, Vlad’s call serves as a wake-up call. Whether you’re a trader, a blockchain developer, or just a meme coin fan, understanding these dynamics can help you navigate the wild west of crypto stocks. What do you think—is BMNR due for a crash, or is there more hype to come? Drop your thoughts in the comments!