PANews February 4th News, according to The Block, BitMine Chairman Tom Lee refuted claims that its unrealized Ethereum losses would suppress future ETH prices. He stated that unrealized losses during market downturns are “a feature of the Ethereum treasury strategy, not a flaw,” and pointed out that such drawdowns are an expected part of market cycles.
Previously, market commentary suggested that BitMine holds approximately $6.6 billion in unrealized losses, and that the accumulated Ethereum would eventually create selling pressure and limit price growth. Lee responded by saying that this view misunderstands the positioning of the Ethereum treasury, emphasizing that BitMine aims to track Ethereum prices and achieve excess returns throughout full market cycles. He compared this to how index ETFs can incur losses during broad market declines.
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