Tom Lee's BitMine reports $13.2 billion in crypto and cash as ETH stack tops 3.5 million tokens
Key Takeaways
- BitMine claims to hold $13.2 billion in assets, focusing on building a large crypto treasury.
- The company is actively acquiring a large share of Ethereum (ETH) supply, primarily through OTC (over-the-counter) purchases to avoid market disruption.
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BitMine, a publicly traded firm focused on building a substantial Ethereum treasury, claims to hold $13.2 billion in crypto, cash holdings, and a stake in Eightco Holdings. The company added 110,288 ETH over the past week, bringing its total holdings to 3.5 million tokens.
BitMine has been acquiring Ethereum through over-the-counter desks to minimize spot price disruptions, supporting its long-term ownership goals. The company now owns 2.9% of all ETH as it moves toward the alchemy of 5%.
BitMine maintains support from a group of prominent institutional investors focused on advancing its Ethereum acquisition strategy. The firm’s aggressive accumulation approach reflects growing institutional interest in Ethereum as a macroeconomic asset.
Institutional moves like BitMine’s Ethereum hoarding are influencing broader market sentiment around supply dynamics and liquidity. The strategy mirrors other corporate treasury approaches that view digital assets as portfolio diversification tools.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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