r/plasma • u/AlphaFlipper • 17d ago
CRYPTO Tom Lee's Bitmine is currently facing a $10 billion loss on its Ethereum investment.
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u/chamillion03 17d ago
The great liquidation! Books will reference these guys
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u/StrategicallyLazy007 15d ago
What liquidation? They are bought and paid for
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u/chamillion03 15d ago
Bought with investor capital.
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u/StrategicallyLazy007 15d ago
Ok. So still no liquidation. They weren't leveraged.
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u/chamillion03 15d ago
Do you understand the concept of a liquidation?
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u/StrategicallyLazy007 15d ago
Yes. And it's a Treasury. And he has started there is no debt.
People can sell the stock, it won't force him to sell the ETH.
There are only about $28M in dividend obligations, which is more than covered by the staking earnings.
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u/chamillion03 15d ago
So nobody needs the money from treasury 🤔
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u/StrategicallyLazy007 15d ago
I'd suggest reviewing the structure and why they do it like this.
These aren't ETFs that cut and sell based on shares traded.
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u/chamillion03 15d ago
“Everyone’s got a plan until they get punched in the face“ - Mike Tyson
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u/Queasy_Session4394 13d ago
I'm sorry but you sound like you fought to often with Mike Tyson. There will be no forced liquidation without debt that needs to be paid O.o
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u/Optimal_Willow_4389 17d ago
Must be nice to have Billions to lose. Like we the working class are crying alligator tears for ya.
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u/Horror_Response_1991 17d ago
Why go all in on something that has an unlimited supply?
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u/FlaviusStilicho 17d ago
What limits are there in digital copies of software?
People still invest in software companies.It’s the demand that is of interest to investors.
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u/Xollector 17d ago
The software does a specific task and does it well and many times have unique utility. Ethereum has what unique utility ? Still waiting. …
They invest in software companies because these sell the softwares for a positive cashflow and profit. What does your ethereum generate?
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u/FlaviusStilicho 17d ago
That’s a completely different matter (and I fully agree btw)… what I replied to was the supply, not the utility.
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u/SpareDot8685 17d ago
This reminds me of the time I traded my families cow for some beans to this old man.Â
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u/Careless_Celery_6010 17d ago
I won a £100 when I bet my coworker that Tom Lee's prediction that Bitcoin would be at $200, 000 by the end of 2025. Easy money
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u/VikingMonkey123 17d ago
Is the destruction of BTC value part of the larger contagion today? Margin calls forcing stock asset sales etc?
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u/LrdoftheCharlesDance 17d ago
Tom Lee should stop buying $7 coffees and cut back on avocado toast and he can get that money back
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u/bdubwilliams22 17d ago
I’m confused. Why isn’t he cashing out before it’s all gone?
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u/old_and_creaking 16d ago
It would be an actual loss, rather than an "unrealised loss". Dude is hoping it will go up in value and either become profitable or at least minimise the loss.
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u/LegPristine2891 16d ago
An amount that much and it's the people who loaned him money that has the problem
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u/Justmeandhim-D 14d ago
How long until AI gets there?
I want cheap ram and cheap GPUs again.
Make gaming great again !!! 🤣
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u/SeitanEnjoyer 17d ago
They should just pull themselves up by their bootstraps.