JUST IN: Tom Lee’s ‘Bitmine’ ETH investment is currently at a $8,000,000,000 unrealized loss

    https://i.redd.it/2f2frcjp6phg1.jpeg

    Posted by alkjdasoad

    23 Comments

    1. It’s only a loss if he sells. He’ll be fine if he just closes the app and turns off his phone.

    2. This commodity never had a use case, and these institutions are getting what they deserve for just blindly throwing their money at any which tech thing even when they didn’t understand it.

    3. He’s staking his Ethereum to generate revenue to cover the interest. Man is just fine, crypto will recover and it will happen when everybody writes it off which seems like right now.

    4. Marshmallowmind2 on

      He’s winning with fees though. He’ll close the fund and open another ponzi scheme

    5. Worried_Quarter469 on

      “Sickening scenarios have now come within reach,” Burry wrote. Should Bitcoin fall another 10%, Strategy Inc., the world’s largest corporate crypto treasury, would be billions in the red and “find capital markets essentially closed.” Additional drops, he said, would push Bitcoin miners toward bankruptcy.

    6. We’re all going to lose a shit load of money, but it’s fun to watch some of these people lose astronomical amounts of money.

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