100,000 BTC at a cost of 7,242.
At the current price of 81,330, this batch is worth about $8.2 billion.
Over the past year, the Garrett Jin entity has suffered frequent, massive losses; everyone outside is wondering how long his ZEC short can hold up. What I’d rather say is: his base holdings cost so little that an unrealized loss of several tens of millions of dollars is very likely just “marked-up” profits created by price increases.
The money for subsequent investment mainly comes from selling BTC. I think he isn’t losing his principal—he’s paying the trial-and-error cost acquired from early-stage allocations.
Someone like this can afford to take losses; it doesn’t mean you can understand him. Don’t treat a super-low-cost base holding as a normal tutorial.
At the current price of 81,330, this batch is worth about $8.2 billion.
Over the past year, the Garrett Jin entity has suffered frequent, massive losses; everyone outside is wondering how long his ZEC short can hold up. What I’d rather say is: his base holdings cost so little that an unrealized loss of several tens of millions of dollars is very likely just “marked-up” profits created by price increases.
The money for subsequent investment mainly comes from selling BTC. I think he isn’t losing his principal—he’s paying the trial-and-error cost acquired from early-stage allocations.
Someone like this can afford to take losses; it doesn’t mean you can understand him. Don’t treat a super-low-cost base holding as a normal tutorial.