PANews reported on November 7th that CryptoQuant published an article on its X platform stating that Bitcoin is facing pressure, and so are treasury firms holding Bitcoin assets. Not only are treasury firms holding Bitcoin affected, but those holding altcoins are also impacted. For example, Evernorth's XRP position has incurred $78 million in unrealized losses, and it only entered the market 2.5 weeks ago. Furthermore, Strategy's stock price has fallen by 53%, and is currently trading near the lower end of the MSTR price range ($221) based on its Bitcoin holdings. Metaplanet holds 30.8 Bitcoins at an average purchase price of $106,000; its unrealized losses are approximately $120 million, and its stock price has fallen by about 80% from its all-time high. Since the market crash on October 10th, Bitmine has added 442,000 Ethereum to its portfolio, but they still face approximately $2.1 billion in unrealized losses.PANews reported on November 7th that CryptoQuant published an article on its X platform stating that Bitcoin is facing pressure, and so are treasury firms holding Bitcoin assets. Not only are treasury firms holding Bitcoin affected, but those holding altcoins are also impacted. For example, Evernorth's XRP position has incurred $78 million in unrealized losses, and it only entered the market 2.5 weeks ago. Furthermore, Strategy's stock price has fallen by 53%, and is currently trading near the lower end of the MSTR price range ($221) based on its Bitcoin holdings. Metaplanet holds 30.8 Bitcoins at an average purchase price of $106,000; its unrealized losses are approximately $120 million, and its stock price has fallen by about 80% from its all-time high. Since the market crash on October 10th, Bitmine has added 442,000 Ethereum to its portfolio, but they still face approximately $2.1 billion in unrealized losses.
Several cryptocurrency treasury companies are under pressure, with Bitmine facing a $2.1 billion unrealized loss on its ETH holdings.
PANews reported on November 7th that CryptoQuant published an article on its X platform stating that Bitcoin is facing pressure, and so are treasury firms holding Bitcoin assets. Not only are treasury firms holding Bitcoin affected, but those holding altcoins are also impacted. For example, Evernorth's XRP position has incurred $78 million in unrealized losses, and it only entered the market 2.5 weeks ago. Furthermore, Strategy's stock price has fallen by 53%, and is currently trading near the lower end of the MSTR price range ($221) based on its Bitcoin holdings. Metaplanet holds 30.8 Bitcoins at an average purchase price of $106,000; its unrealized losses are approximately $120 million, and its stock price has fallen by about 80% from its all-time high. Since the market crash on October 10th, Bitmine has added 442,000 Ethereum to its portfolio, but they still face approximately $2.1 billion in unrealized losses.
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