The biggest Ethereum hoarder lost $6.3 billion in a year and is still buying. Does this make sense to you?
Bitmine’s annual report: a net loss of $6.31 billion. Its 5.9 million $ETH cost $19.95 billion and are now worth just $14.56 billion. ETH fell 44% during the fiscal year, and internal controls have been inadequate for two consecutive years.
Yet it turned around and added to its holdings to 6.07 million ETH, or 4.97% of the total supply—just a hair short of its 5% target.
A: Down $6.3 billion and still buying—buy blindly at $2,000.
B: Internal controls are inadequate—sell first if it drops below $2,000.
Which side are you on?
$ETH #Ethereum
Bitmine’s annual report: a net loss of $6.31 billion. Its 5.9 million $ETH cost $19.95 billion and are now worth just $14.56 billion. ETH fell 44% during the fiscal year, and internal controls have been inadequate for two consecutive years.
Yet it turned around and added to its holdings to 6.07 million ETH, or 4.97% of the total supply—just a hair short of its 5% target.
A: Down $6.3 billion and still buying—buy blindly at $2,000.
B: Internal controls are inadequate—sell first if it drops below $2,000.
Which side are you on?
$ETH #Ethereum