CryptoQuant: Several crypto treasury companies under pressure, Bitmine's ETH holdings face a $2.1 billion unrealized loss

ChainCatcher news, CryptoQuant posted on X platform stating that Bitcoin is under pressure, and so are treasury companies holding Bitcoin assets. Not only are treasury companies holding Bitcoin affected, but those holding altcoin treasuries are no exception.

For example: Evernorth's XRP position has already seen an unrealized loss of $78 million, and it has only been in the market for just 2.5 weeks. In addition, Strategy's stock price has dropped by 53%, and currently, the stock is trading near the lower limit of the MSTR price range ($221) defined by its Bitcoin holdings.

Metaplanet holds 30.8 Bitcoin, with an average purchase price of $106,000; the unrealized loss is about $120 million, and the stock price has fallen about 80% from its all-time high. Since the market crash on October 10, Bitmine has added 442,000 Ethereum to its portfolio, but they still face an unrealized loss of about $2.1 billion.