š THE NEW FINAL BOSS OF LOSS: BITMINEāS -$6,600,000,000 ETH VOID
Move over, Archegos. Thereās a new "Legend of the Liquidated" in town. BitMine ($BMNR) is currently sitting on a -$6.6 BILLION unrealized loss on their Ethereum bag.
The Horror Show by the Numbers:
⢠The Bag: ~4.24 Million ETH (roughly 3.5% of the entire supply).
⢠The Damage: -$6,600,000,000. If they sell today, itās the 5th largest trading loss in human history.
⢠The "Archegos" Metric: This loss is officially 66% the size of the 2021 Archegos collapse ($10B). Bill Hwang finally has a worthy successor.
⢠The Strategy: While Ethereum plunged below $2,300, BitMine didn't flinchāthey just kept holding. Itās not "investing" anymore; itās a high-stakes game of chicken with the global economy.
The Reality Check:
⢠MicroStrategy (BTC): "We buy the dip and win."
⢠BitMine (ETH): "We bought the dip... and the dip kept dipping until it reached the Earth's core."
Why the Market is Shaking:
When a single entity holds 3.5% of the supply and is underwater by $6.6B, everyone is watching the "Sell" button. If they blink, the "Flippening" might just become the "Flattening."
š¬ Question for the Degens:
Is BitMine a group of legendary "Diamond Hand" Chads, or are they just running the worldās most expensive "Hotel California" trade? š