Is BitMine’s ETH buying spree nearing its end? 👀
The company now holds 6,028,946 ETH 💰 — approximately 4.94% of Ethereum’s supply — valued at around $15.3 billion based on the price used in its latest update.
That leaves about 76,000 ETH (roughly $200 million) to reach its 5% target, based on the supply figures reported by the company.
And here’s the key point: 5% isn’t just another milestone; it’s the finish line. Tom Lee said at the TOKEN2049 event in Singapore that BitMine plans to stop buying once it reaches that level.
After adding 12,532 ETH last week, keeping up that pace would put the target about six weeks away. This buying spree could end well before the year is over. 🐳
#ETH #BinanceSquareFamily
The company now holds 6,028,946 ETH 💰 — approximately 4.94% of Ethereum’s supply — valued at around $15.3 billion based on the price used in its latest update.
That leaves about 76,000 ETH (roughly $200 million) to reach its 5% target, based on the supply figures reported by the company.
And here’s the key point: 5% isn’t just another milestone; it’s the finish line. Tom Lee said at the TOKEN2049 event in Singapore that BitMine plans to stop buying once it reaches that level.
After adding 12,532 ETH last week, keeping up that pace would put the target about six weeks away. This buying spree could end well before the year is over. 🐳
#ETH #BinanceSquareFamily