I gotta be honest with my thesis… I think $USELESS is a bad bet from an EV and ceiling perspective. That doesn’t mean I don’t think it can cross $1B. It absolutely can. I just disagree with a lot of Uni’s thesis on the coin, and in this new market I struggle to identify a real structural advantage that justifies the valuation. Hopefully I’m wrong. However, if I am wrong and $USELESS goes completely insane, I think $USEFUL is the significantly better asymmetric expression of that same bet. Much lower MC, substantially more room for multiple expansion, and direct exposure to the exact outcome I’d be betting on anyway. So I shall own 1% of $USEFUL as my hedge against Uni being right and me being a retard. If $USELESS goes to Valhalla, I still get paid. And that exposure lets me sleep peacefully at night 🫡
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- 2026-09-15 15:37 UTC
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- 12h ago via trade comments
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