Tom Lee responds to critics targeting BitMine’s $6B unrealized ETH loss — and he’s calling it normal, not a failure.
Here’s the breakdown:
✅ Unrealized losses = expected for long-term treasury strategies
✅ ETH treasuries act like index ETFs — prices fluctuate with the market
✅ Drawdowns ≠ broken plan; it’s the cost of holding a long-term asset
In plain trader terms:
📉 Short-term PnL looks ugly
📈 Long-term positioning stays intact
⚡ Volatility is the price of staying in the game
Why it matters:
ETH treasuries aren’t designed to trade tops & bottoms
They survive cycles, not chase weekly hype
Weak hands panic, treasuries endure
Market takeaway: Red candles aren’t a flaw — they’re part of the strategy.
BTCUSDT
Perpetuu
67,804
-7.21%
BNBUSDT
Perpetuu
663.53
-8.86%
ETHUSDT
Perpetuu
1,966.03
-7.00%