Is Ethereum the “worst asset of all time,” amid estimated $8.83 billion BitMine loss ?

Trader Flood, who posts as @ThinkingUSD , called Ethereum a “contender for the worst asset of all time” on Nov. 13, sharing a dashboard that put BitMine’s unrealized loss at about $9 billion. The image marked the Ethereum treasury company 43% underwater. Its holdings match BitMine’s November disclosure, while its average-cost field is dated August. Applying that older average to the later balance approximately reproduces the dashboard’s displayed cost, leaving its loss figure dependent on that assumption. Flood cited money lost to hacks, development time spent on inadequate tools and retail losses from betting on Ethereum’s price. He supplied no figures for those categories or comparative data establishing an all-time ranking. His criticism targeted Ethereum, with the BitMine dashboard providing a specific example of treasury exposure.

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