The two loudest crypto bulls on Wall Street are getting destroyed.
Saylor's unrealized loss: -$11.14 BILLION.
Tom Lee's unrealized loss: -$9.75 BILLION.
$MSTR stock: -77% from ATH.
$BMNR stock: -89% from ATH.
Bear market is an understatement.
Tom Lee’s firm, BitMine Immersion Technologies, is sitting on roughly $8.7 billion to $8.9 billion in unrealized (paper) losses on its massive Ethereum treasury.
The company is the world’s largest corporate holder of Ethereum, maintaining a position of roughly 5.4 million ETHtokens. Despite the massive drawdown, the firm's average entry price sits at around ($3,500) per token, and the firm continues to accumulate more ETH despite the paper losses.