ETHZilla Jumps After Meme Trader ‘Capybara’ Discloses Major ETHZ Position, Calls Stock ‘Undervalued’

• ETHZilla shares jumped pre-market after meme-stock trader Dimitri ‘Capybara’ Semenikhin disclosed a 2.2% stake in the company.
• Capybara said ETHZilla’s $1 billion in assets and strong Ethereum exposure make it significantly undervalued.
• He cited the firm’s 10% yield, RWA tokenization plans, and backing from Peter Thiel as additional upside drivers.

ETHZilla (ETHZ) shares rallied in pre-market trade on Thursday after Dubai-based trader and real estate developer Dimitri Semenikhin, known online as ‘Capybara Stocks,’ said he had acquired 2.2% of the company.

Shares of ETHZilla — a digital asset treasury (DAT) centered on Ethereum (ETH) — rallied as much as 12.5% in pre-market trade. Retail sentiment on Stocktwits surged to ‘bullish’ from ‘extremely bearish’ territory, and chatter jumped to ‘high’ from ‘low’ levels over the past day. According to platform data, the number of traders following the stock increased 4.5% and message volume jumped more than 21% in the last 24 hours, as of Thursday morning. 

Meanwhile, Ethereum’s price edged 0.3% higher in the last 24 hours, trading at around $3,800. Retail sentiment around the leading altcoin trended in ‘bearish’ territory over the past day. 

Capybara’s Thesis For Buying ETHZ Shares

Capybara’s disclosure on X that he acquired 360,000 shares, representing 2.2% of ETHZilla at an average of $16 per share, drew attention from retail and institutional investors. He emphasized that the stock combines technical and fundamental factors that leave it “undervalued even more severely than $BYND was.”

In his ETHZilla thesis, Capybara said ETHZilla holds roughly 102,000 ETH worth $388 million, along with $550 million in cash, giving it total assets near $1 billion against a market cap of just $250 million. He said the stock trades “at half its asset value,” offering a “clear path to double.”

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