A Loss Big Enough to Buy All of Toncoin

Today, many people are discussing Bitmine's and Strategy's financial results after their ETH and BTC purchases. Meanwhile, those results keep getting worse. At the moment:

• Bitmine's unrealized loss on Ether has exceeded $9 billion;
• Strategy's unrealized loss on Bitcoin has exceeded $8.5 billion;

I tried to wrap my head around what these numbers actually mean, and stumbled upon an unexpected comparison.

If either of these companies, instead of buying 5% of the circulating supply of Bitcoin or Ether, had turned its attention to another well-known and visible cryptocurrency - Toncoin - they could have bought 100% of the circulating supply and still would have been guaranteed not to end up with such a massive drawdown.

The thing is, all TON coins currently in circulation are worth $5.2 billion, according to CoinGecko. In other words, even if someone bought every single TON currently in circulation at today's price, their loss could never exceed $5.2 billion. Even if the price fell all the way to zero.

Just think about how different the capitalization scales are across cryptocurrencies. And how much smaller the sums at risk can be for those making large investments in cryptocurrencies ranked somewhere in the third dozen by market cap and beyond.

And the risk/reward ratio there is probably no less attractive than in Bitcoin or Ether.

Something to think about, isn't it?

And if you ever want to swap BTC or ETH for TON at the best rates, you can always do that on rabbit.io.