Investment Gems

CYPH is an operating company with a ZEC-centric treasury strategy (privacy-preserving “pristine private collateral”) plus residual biotech optionality. Following a $58.9M private placement led by Winklevoss Capital and board/CIO upgrades, CYPH has accumulated ~233,645 ZEC (~1.43% of network) at a $291 avg cost, positioning the equity as a levered bet…

The tape screamed tight plumbing and risk-off: This is consistent with our framework: mechanical liquidity constriction (TGA hoarding + QT + bill-heavy issuance) tightens collateral, pushes SOFR higher vs EFFR, nudges SRF usage up, and sells the most liquid stuff first (crypto/mega-duration). It’s pipes, not fundamentals. Where we are in…

Big picture: the Microsoft $9.7B/5-yr GPU cloud contract is a real validator, but the tape is still sorting through funding/margin math. Intraday we’re +6–7% around $64–65, well off the $75.7 high printed on the headline. That long upper wick says “sold-the-news / price discovery.” Chart tells: Macro tape: BTC is…

I have been working on a one-pager for IREN’s valuation. My goal is to simplify the metrics used, so that retail investors can have a rough measure for the company that they can keep track of without much trouble. This will also allow me to keep regular updates at investmentgems.net.…