Data from DropsTab shows that many large portfolios are significantly in the red at current market prices. This is an unrealized loss – calculated as the difference between the Medium purchase price and the current price .

1️⃣ Strategy (holding the largest amount of BTC in the market)

• Amount of BTC held: ~713,500 BTC

• Medium purchase price: ~76,052 USD/ BTC

• Current BTC price: ~64,000 USD

• Difference: -$12,000/ BTC

Estimated loss: approximately -5.9 billion USD

If BTC continues to fall to $60,000, the losses will expand by more than $2.8 billion.

The key takeaway: when market prices fall below long-term cost of Capital , shareholder pressure and debt burden will increase.

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2️⃣ Bitmine

• BTC/crypto portfolio buy opportunities in the highs of 2024–2025

• According to the Snapshot: a loss of nearly -$7.95 billion.

• Portfolio reduction percentage: approximately -48%

This suggests they bought heavily at the recent cycle peak.

3️⃣ Trump Media

• Crypto portfolio is in the negative, approximately $473 million.

• Portfolio decrease: -37%

If the market doesn't recover, the valuations of crypto-related assets will continue to be under pressure.

4️⃣ Vitalik Buterin

• The portfolio is tracking a negative figure of approximately $350 million.

• Rate of decrease ~ -42% (3 months)

Note: This is not a sale item; it only reflects market prices lower than the previous reference price.

5️⃣ TRON Inc., CZ, and several other characters

• TRON Inc.: loss of approximately -$22 million.

• CZ: nearly -827,000 USD

• Murad: negative approximately -$12.7 million.

It is worth noting:

• This isn't the crucial point yet.

• But if the market falls further, liquidation and debt risks will become apparent.

• The crypto cycle always punishes positions taken at high prices.