Benson Sun|12月 19, 2025 06:56
Saying not to buy ETH at the bottom is actually a matter of cost-effectiveness.
From DAT perspective:
The largest DAT micro strategy for BTC has been hoarding coins since the last cycle, and now it has a floating profit even at a cost of 75000 yuan.
ETH's largest DAT BitMine only started buying coins in the late stage of this cycle, with a cost of 3900, and has already lost so much that it has taken off its pants.
From a fundamental perspective:
BTC is digital gold: essentially a religion and belief. It does not require technical iteration, and 'stability and security' are the requirements that everyone has for it. The more boring it is, the stronger its value consensus can be strengthened, making people willing to buy it.
ETH is a decentralized computing platform: essentially a technological product. Since it is technology, we must face endless competition. Within the circle, it is being eroded by SOL and BNB; Outside the industry, it also faces the extreme pull of AI computing power on capital attention.
It's really hard to say whether it will rise or fall in the short term. With such a large position in ETH, Mr. Yi and Garrett may have some mysterious force planning to speculate on ETH, but who knows? Is it possible for retail investors to survive a full cycle with their wealth, as the gods are always present?
Considering the above two points, if the market is still in a bear market, all rebounds are for a smoother decline, and you have a fund waiting to buy the bottom of long-term spot in a bear market, would you want to buy ETH? At least I don't know, why choose ETH if I have BTC to choose from? At least wait until BitMine is forced to sell coins before considering entering the market
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