Multiple cryptocurrency treasury companies are under pressure, with Bitmine's held ETH facing a $2.1 billion unrealized loss

CryptoQuant posted on platform X that Bitcoin is under pressure, and treasury companies holding Bitcoin assets are similarly affected. Not only treasury companies holding Bitcoin are impacted, but those holding altcoin treasuries are no exception. For example, Evernorth has incurred an unrealized loss of $78 million on its XRP position, which it entered just 2.5 weeks ago. Additionally, Strategy's stock price has dropped by 53%, and currently, the trading price of the stock is near the lower limit of the MSTR price range defined by its Bitcoin holdings (around $221).

Metaplanet holds 30.8 Bitcoins, with an average purchase price of $106,000; it has an unrealized loss of approximately $120 million, and its stock price has fallen about 80% from its historical peak. 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.