Saylor from Temu is somehow way worse than even Saylor…
blaziken8x on
Do we hit crypto winter bottom once these companies start going to shit?
coinfeeds-bot on
tldr; BitMine has incurred an unrealized loss of $6.6 billion on its Ethereum holdings, ranking it among the largest trading losses in history. The company purchased 4.3 million ETH at prices between $3,800 and $3,900, but ETH now trades near $2,300. BitMine, which shifted from Bitcoin mining to becoming an Ethereum treasury firm, aims to own 5% of Ethereum’s supply. Despite backing from major investors like Ark Invest and Founders Fund, the firm faces significant challenges as Ethereum prices remain low, though it has not used leverage for its purchases.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
arajajaja on
amateurs
selarenfia on
He is smarter than you.i dont think he would bet billions in a bad project you are just plebs and cant see long term.
Consistent_Many_1858 on
These guys have destroyed crypto.
Apoxtrade on
This OTC shit needs to stop, maybe if these companies actually bought from the open market they’d create some fomo and a new run up. Instead they pool theirs, yours, your grandmas, and the couch change to buy OTC. This massively drops liquidity, retail doesn’t see price go up so they get bored and leave, all these “we’re buying a billion coins” announcements are met with further downside so it looks fake to people and here we are. So fuck em, buy like a god damn man or get rekt and get the fuck out.
Hot_Individual5081 on
you guys dont get it he is staking eth so basically making couple hundred million dollars just by sutting and doing nothing he doesnt care if eth goes to 799 and stay there for two years
AutisticGayBear69 on
It’s a loss only if you sell
Independent-Coat-389 on
Yes! Sell and go away!!
junglehypothesis on
Should’ve stuck with Bitcoin mining. Never shitcoin.
Th3FinalStarman on
So bizarre these large players don’t DCA, like why buy tens of millions in a single trade? If your whole business is just being an ETH Treasury what’re you doing like…the other 23.99 hours of the day?
Redd411 on
so far…
trick is.. do it with other peoples money!
cantreadcantspell on
sensationalist post, imo.
bitmine hasn’t realized the loss and they’re not in danger of having to as they’re not leveraged. not that this is a great look for them, but it’s far from a “trading catastrophe” as they can simply stake and wait it out.
14 Comments
Saylor from Temu is somehow way worse than even Saylor…
Do we hit crypto winter bottom once these companies start going to shit?
tldr; BitMine has incurred an unrealized loss of $6.6 billion on its Ethereum holdings, ranking it among the largest trading losses in history. The company purchased 4.3 million ETH at prices between $3,800 and $3,900, but ETH now trades near $2,300. BitMine, which shifted from Bitcoin mining to becoming an Ethereum treasury firm, aims to own 5% of Ethereum’s supply. Despite backing from major investors like Ark Invest and Founders Fund, the firm faces significant challenges as Ethereum prices remain low, though it has not used leverage for its purchases.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
amateurs
He is smarter than you.i dont think he would bet billions in a bad project you are just plebs and cant see long term.
These guys have destroyed crypto.
This OTC shit needs to stop, maybe if these companies actually bought from the open market they’d create some fomo and a new run up. Instead they pool theirs, yours, your grandmas, and the couch change to buy OTC. This massively drops liquidity, retail doesn’t see price go up so they get bored and leave, all these “we’re buying a billion coins” announcements are met with further downside so it looks fake to people and here we are. So fuck em, buy like a god damn man or get rekt and get the fuck out.
you guys dont get it he is staking eth so basically making couple hundred million dollars just by sutting and doing nothing he doesnt care if eth goes to 799 and stay there for two years
It’s a loss only if you sell
Yes! Sell and go away!!
Should’ve stuck with Bitcoin mining. Never shitcoin.
So bizarre these large players don’t DCA, like why buy tens of millions in a single trade? If your whole business is just being an ETH Treasury what’re you doing like…the other 23.99 hours of the day?
so far…
trick is.. do it with other peoples money!
sensationalist post, imo.
bitmine hasn’t realized the loss and they’re not in danger of having to as they’re not leveraged. not that this is a great look for them, but it’s far from a “trading catastrophe” as they can simply stake and wait it out.