🔥With BTC and ETH dropping, companies holding crypto treasuries are racking up unrealized losses 👀
The market is still in the red, and this week hit hard on major
#activos by market cap like
#BTC and
#ETH . These drops have directly impacted companies that implemented treasury models like Strategy with BTC and Bitmine with ETH, as they are accumulating unrealized losses.
Yesterday, Bitcoin's price hit a local low of $61,383, a price that surprised many investors due to the sudden drop of the asset. Companies with a Bitcoin treasury model like Strategy have accumulated even more unrealized losses, reaching a value of $11 billion. Currently, Strategy holds 843,706 BTC with an average purchase price of $75,699.
On the other hand, we have ETH, the second
#criptomoneda by market cap. This cryptocurrency has hit a local low of $1,717, a price not seen in months. In this case, the unrealized losses impacted Bitmine, one of the companies with a treasury model based on ETH. Bitmine is currently facing an unrealized loss of $8 billion.
If the prices of both assets continue to fall, the unrealized losses for these companies will also increase. However, these drops and unrealized losses haven't dampened the spirits of the top brass at both companies. Quite the opposite, they are more optimistic than ever and have plans to raise funds and buy more BTC and ETH.
Do you think it's a good opportunity to start accumulating BTC and ETH?
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