BiyaPay Analyst: Top Three ETH Microstrategy Holdings Surpass Ethereum Foundation, Vitalik Warns of Excessive Leverage Risk

According to Foresight News, BiyaPay analysts report that Ethereum founder Vitalik recently stated that although Ethereum treasury companies have expanded channels for investors to acquire ETH, he warned that improper handling could lead to “over-leveraged games.” However, the market does not seem to have paid much attention to Vitalik’s warning. Instead, the holdings of the three major ETH micro-strategy entities have already surpassed those of the Ethereum Foundation, and many investors are focusing more on figures like Tom Lee.

Vitalik’s concerns are mainly centered on the risks that leverage might bring. In contrast, the Ethereum Foundation continues to sell ETH, which could pose an even greater risk to the market. Meanwhile, companies such as the US-listed SBET and BitMine are accumulating coins through leveraged strategies. It appears that market participants are more interested in increasing their ETH holdings to achieve returns, rather than worrying about the potential risks of leverage.