📰 Tom Lee is chasing a target that keeps moving away from him
BitMine, the Ethereum treasury company he chairs, now holds 5,847,611 $ETH worth about $14.6 billion; 4.84% of Ethereum's entire circulating supply, and just 187,000 tokens short of the self-declared "Alchemy of 5%" goal.
The company bought 32,447 ETH last week alone, its biggest weekly haul since early July, riding a rally that saw ETH gain roughly 30% in seven days.
Ethereum's supply isn't fixed. The network added nearly 86,000 new ETH over the past 30 days, meaning the real 5% line keeps sliding forward even as BitMine buys.
At the current pace of about 32,000 $ETH per week, closing the gap could still take weeks, not days.
Lee isn't slowing down regardless. Speaking on Bankless, he said Ethereum could "easily" hit $10,000, and BitMine has staked over 5 million of its tokens for roughly $330 million a year in yield, funded entirely with stock, not debt; a structural difference from treasury rivals that didn't survive the last downturn.
A corporate treasury racing a growing supply schedule to hit a round number is either conviction or theater. With BitMine, it's been both for fourteen months straight.
$BTC #Macro Insights# #Altcoin Season# #BTC Price Analysis#
BitMine, the Ethereum treasury company he chairs, now holds 5,847,611 $ETH worth about $14.6 billion; 4.84% of Ethereum's entire circulating supply, and just 187,000 tokens short of the self-declared "Alchemy of 5%" goal.
The company bought 32,447 ETH last week alone, its biggest weekly haul since early July, riding a rally that saw ETH gain roughly 30% in seven days.
Ethereum's supply isn't fixed. The network added nearly 86,000 new ETH over the past 30 days, meaning the real 5% line keeps sliding forward even as BitMine buys.
At the current pace of about 32,000 $ETH per week, closing the gap could still take weeks, not days.
Lee isn't slowing down regardless. Speaking on Bankless, he said Ethereum could "easily" hit $10,000, and BitMine has staked over 5 million of its tokens for roughly $330 million a year in yield, funded entirely with stock, not debt; a structural difference from treasury rivals that didn't survive the last downturn.
A corporate treasury racing a growing supply schedule to hit a round number is either conviction or theater. With BitMine, it's been both for fourteen months straight.
$BTC #Macro Insights# #Altcoin Season# #BTC Price Analysis#
