@web3savvy
Tom Lee’s Bitmine ETH Strategy fund is deep underwater 🥹
they bought about $15.6B worth of ETH.
current value is around $8.8B.
that’s roughly a $6.8B loss.
at the same time, ETH ETFs are still net +$12B in inflows.
so where did all that money actually go?
in just a few short weeks, ETH wiped out nearly 50% of wealth that took years to build.
painful to watch.
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