Would be terrified holding large Bitcoin/Ethereum positions given MSTR/BMNR implosion risk; crypto-backed vehicles dangerous.
Historical precedent of crypto fund collapses; BMNR has FTX-sized unrealized losses; concentration in these vehicles creates systemic risk
If I had millions of dollars in Bitcoin or Ethereum, I would be super scared of the probable implosion of $MSTR or $BMNR funds. Too many crazy shit happenned in the past to not think something like that won't happen. If you have small % of portfolio, you'll be fine. $BMNR has unrealized loss of the size of the FTX bankruptcy.
| Horizon | Raw move | vs SPY |
|---|---|---|
| 1 day | +0.0% | +0.0% |
| 1 week | -6.3% | -7.4% |
| 1 month | -31.6% | -30.7% |
| 3 months | — | — |
| 6 months | — | — |