Bitcoin24h $70,179.64-0.37%

Ethereum24h $2,107.43+0.67%

XRP24h $1.44+0.41%

BNB24h $636.51-0.56%

Solana24h $86.77-0.33%

TRON24h $0.2789+0.38%

Dogecoin24h $0.0961-0.55%

Bitcoin Cash24h $533.18+1.18%

Cardano24h $0.2700-0.08%

Hyperliquid24h $31.35-3.33%

Tom Lee’s BitMine is performing as bad as Strategy

Shares of the world’s largest publicly traded ETH treasury company, BitMine Immersion Technologies, have crashed by over 80% since June 3.

Jim Chanos missed out on extra 85% annualized from MSTR short

Jim Chanos profited by shorting the premium of MSTR to its BTC, but he missed out on the final, exceptionally profitable leg of that trade.

Based on Michael Saylor’s most recently disclosed MSTR and BTC holdings, his personal losses likely exceed $4B in the past six months.

Strategy investors panicked into trades after fake news about the company selling BTC earned millions of social media impressions.

Strategy investors invented the term “mNAV” to boast about overpaying for MSTR stock. That came back to haunt them.