Institutional Watch | Even buyers have a finish line
According to an October 12 report by CoinDesk, Bitmine added 12,532 ETH to its holdings last week, bringing its total holdings to about 6.03 million ETH, nearly 4.9% of the total supply. The company plans to stop accumulating once it reaches its 5% target.
The key point is not just the additional buying, but that sustained buying could gradually come to an end. Going forward, watch the actual pace of purchases and whether other investors can take over, rather than treating one institution’s accumulation as a guarantee of price gains. These are last week’s purchase figures, not today’s trades.#ETH #InstitutionalActivity
According to an October 12 report by CoinDesk, Bitmine added 12,532 ETH to its holdings last week, bringing its total holdings to about 6.03 million ETH, nearly 4.9% of the total supply. The company plans to stop accumulating once it reaches its 5% target.
The key point is not just the additional buying, but that sustained buying could gradually come to an end. Going forward, watch the actual pace of purchases and whether other investors can take over, rather than treating one institution’s accumulation as a guarantee of price gains. These are last week’s purchase figures, not today’s trades.#ETH #InstitutionalActivity