With another 200,000 ETH, BitMine would own 5% of Ethereum’s supply. It currently holds 5.85 million ETH, worth $14.27 billion.
This isn’t just accumulating coins—it’s trying to become Ethereum’s shadow whale. With 5% of the supply in its hands, the circulating supply would shrink significantly. If ETH really takes off, shorts won’t even have a chance to get out. On the other hand, selling a position this large would take time, so don’t expect it to dump its holdings anytime soon.
$ETH #BitMine #Ethereum
This isn’t just accumulating coins—it’s trying to become Ethereum’s shadow whale. With 5% of the supply in its hands, the circulating supply would shrink significantly. If ETH really takes off, shorts won’t even have a chance to get out. On the other hand, selling a position this large would take time, so don’t expect it to dump its holdings anytime soon.
$ETH #BitMine #Ethereum