ChainCatcher reports that Andrei Grachev, co-founder of DWF Labs, stated that BitMine and Strategy have a high chance of causing the largest market crash in cryptocurrency history. I’m keeping my fingers crossed that this won’t happen, but if it does, users should consider what strategies to adopt if Bitcoin drops to $10,000–$20,000. Amid recent continued market corrections, Strategy, led by Michael Saylor, holds 843,706 BTC at an average price of $75,699, with an unrealized loss of approximately $12.27 billion. BitMine, backed by Tom Lee and holding an Ethereum treasury, currently holds 5,416,901 ETH at an average price of $3,500, with an unrealized loss of approximately $10.35 billion.
DWF Co-Founder Warns Strategy and BitMine May Trigger the Largest Crypto Crash
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Summary
DWF Labs co-founder Andrei Grachev warned that Strategy and BitMine could trigger the largest crypto price crash in history. Strategy, led by Michael Saylor, holds 843,706 BTC at an average price of $75,699, with a $12.27 billion floating loss. BitMine, backed by Tom Lee, holds 5,416,901 ETH at an average price of $3,500, with a $10.35 billion loss. The Fear & Greed Index remains near panic levels as major holders face mounting pressure.
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