🔥Company keeps buying Ether despite taking losses on this asset 👀
#Bitmine Immersion Technologies, the treasury management company backed by Tom Lee of Fundstrat with #ether , continues to accumulate Ether despite facing significant unrealized losses with this #criptomoneda , highlighting the risks of this strategy.
The company announced on Monday the acquisition of an additional 101,901 ETH on top of what it had already purchased last week, bringing its total holdings to 5.08 million ETH.
However, this strategy seems to be costing them dearly, as despite aggressive buys, Bitmine has accumulated unrealized losses of $6.5 billion from an investment of $17.6 billion. This means that if the company decides to liquidate all its ETH today, it would be losing $6.5 billion, thus only recovering $11.1 billion from its initial investment of $17.6 billion.
This underscores the impact of the recent volatility in Ether prices.
Do you think the company should stick with its treasury strategy and keep accumulating ETH, or should it wait for better market conditions to re-enter?
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$ETH
#Bitmine Immersion Technologies, the treasury management company backed by Tom Lee of Fundstrat with #ether , continues to accumulate Ether despite facing significant unrealized losses with this #criptomoneda , highlighting the risks of this strategy.
The company announced on Monday the acquisition of an additional 101,901 ETH on top of what it had already purchased last week, bringing its total holdings to 5.08 million ETH.
However, this strategy seems to be costing them dearly, as despite aggressive buys, Bitmine has accumulated unrealized losses of $6.5 billion from an investment of $17.6 billion. This means that if the company decides to liquidate all its ETH today, it would be losing $6.5 billion, thus only recovering $11.1 billion from its initial investment of $17.6 billion.
This underscores the impact of the recent volatility in Ether prices.
Do you think the company should stick with its treasury strategy and keep accumulating ETH, or should it wait for better market conditions to re-enter?
👉More crypto updates ...
Share and follow me for more 👈😎
$ETH