Strategy BTC holdings show a $6.536B profit, while Bitmine’s ETH position narrows its loss to $4.781B

iconKuCoinFlash
Share
This is the logo of the coin.
BTC
$82,938.10-0.16%
This is the logo of the coin.
ETH
$2,536.761.4%
AI summary iconSummary
Strategy’s BTC holdings show a $6.536B profit, while Bitmine’s ETH position narrows its loss to $4.781B. Strategy’s take-profit strategy is evident in its BTC position, which consists of 848,250 BTC valued at $70.532B, with a cost basis of $75,444 per BTC. Bitmine’s ETH holdings total 6,028,946 tokens, valued at $15.319B, with a cost basis of $3,334 per ETH. The firm is nearing its 5% supply target and may adjust its stop-loss strategy accordingly.

BlockBeats news, on October 12, according to EmberCN monitoring, Strategy purchased 250 BTC last week at an average price of $86,194, totaling approximately $215.5 million. The company currently holds 848,250 BTC, with a current holding value of approximately $70.532 billion, an average cost basis of $75,444, an unrealized profit of approximately $6.536 billion, and a return on investment of 10.2%.


Last week, Bitmine purchased 12,532 ETH at an average price of approximately $2,601, totaling around $32.6 million. It currently holds 6,028,946 ETH, valued at approximately $15.319 billion, with an average cost basis of $3,334 per ETH. This represents an unrealized loss of approximately $4.781 billion, or 23.8%.


Tom Lee previously stated at the TOKEN2049 conference in Singapore that Bitmine will stop increasing its ETH holdings once they reach 5% of the total supply. Currently, Bitmine is approximately 77,442 ETH away from this target. Based on recent purchasing trends, Bitmine could reach this goal in about one month.

Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information. Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.