That steady buyer, $ETH , is nearly “full”—and the news has just been made official.
BitMine, an Ethereum treasury company, has spelled it out: Chairman Tom Lee said at TOKEN2049 in Singapore that the company will stop buying once its ETH holdings reach 5% of the circulating supply. It currently holds 6,016,414 ETH, or about 4.9% of the circulating supply—roughly 100,000 ETH short of the finish line. At Wednesday’s prices, that stash is worth about $15.5 billion.
The pace is worth noting, too. Just last week, the company added about $41 million worth of ETH. At that rate, it’ll take another six to seven weeks to reach 5%. BitMine also has $643 million in cash and marketable securities on its books—more than enough to buy the rest at current prices. So reaching its target isn’t a question of whether, but when.
Think of it like this: there’s a big player at the poker table who keeps calling steadily, and gives everyone a heads-up: I’ll be leaving after a few more hands. The countdown has begun for $ETH ’s persistent buying pressure—the kind that only flows one way.
A personal take: announcing six or seven weeks in advance that it plans to stop buying feels more like giving the market fair warning than suddenly pulling the rug out. That said, its more than six million ETH haven’t moved, so there’s no selling pressure to speak of—just no more water being poured into the pool. Whether the pool stays full or runs dry will depend on whether other players are willing to step in.
#行业动态 #Crypto
This information comes from public sources. I’m sharing it, not making predictions. Nothing above constitutes investment advice.
BitMine, an Ethereum treasury company, has spelled it out: Chairman Tom Lee said at TOKEN2049 in Singapore that the company will stop buying once its ETH holdings reach 5% of the circulating supply. It currently holds 6,016,414 ETH, or about 4.9% of the circulating supply—roughly 100,000 ETH short of the finish line. At Wednesday’s prices, that stash is worth about $15.5 billion.
The pace is worth noting, too. Just last week, the company added about $41 million worth of ETH. At that rate, it’ll take another six to seven weeks to reach 5%. BitMine also has $643 million in cash and marketable securities on its books—more than enough to buy the rest at current prices. So reaching its target isn’t a question of whether, but when.
Think of it like this: there’s a big player at the poker table who keeps calling steadily, and gives everyone a heads-up: I’ll be leaving after a few more hands. The countdown has begun for $ETH ’s persistent buying pressure—the kind that only flows one way.
A personal take: announcing six or seven weeks in advance that it plans to stop buying feels more like giving the market fair warning than suddenly pulling the rug out. That said, its more than six million ETH haven’t moved, so there’s no selling pressure to speak of—just no more water being poured into the pool. Whether the pool stays full or runs dry will depend on whether other players are willing to step in.
#行业动态 #Crypto
This information comes from public sources. I’m sharing it, not making predictions. Nothing above constitutes investment advice.