ETH is about to lose its most reliable buyer. Bitmine Chairman Tom Lee laid it all out at Token2049 in Singapore: once holdings reach 5% of ETH’s circulating supply, buying stops. That’s a hard cap, not a flexible target.
The numbers speak for themselves: Bitmine currently holds 6,016,414 $ETH , about 4.9% of the 122.1M circulating supply, leaving only around 100,000 coins until it hits 5%. At its recent weekly buying pace, it’ll reach the cap in six or seven weeks. At $2,580 per ETH, that stash is worth about $15.5 billion, with 84% already staked through MAVAN and annualized staking income projected at $336 million.
Here’s the interesting part: Lee said he initially thought this would take five years, but they got it done in just over a year—and bought the whole time through a bear market. Since late June 2025, they’ve bought every single week without fail. You won’t find another buyer in the market with this level of unwavering spot demand.
Stopping doesn’t mean dumping (the official line: keep staking, use staking rewards to maintain the 5% cap, and stop raising money to buy more coins). But without this buyer showing up like clockwork every week, short-term marginal buying demand for $ETH is bound to thin out. Lee is touting a $ETH target of $10,000 while setting a line at which he’ll stop buying—there’s something worth pondering there.
#以太坊 #ETH #Bitmine
The numbers speak for themselves: Bitmine currently holds 6,016,414 $ETH , about 4.9% of the 122.1M circulating supply, leaving only around 100,000 coins until it hits 5%. At its recent weekly buying pace, it’ll reach the cap in six or seven weeks. At $2,580 per ETH, that stash is worth about $15.5 billion, with 84% already staked through MAVAN and annualized staking income projected at $336 million.
Here’s the interesting part: Lee said he initially thought this would take five years, but they got it done in just over a year—and bought the whole time through a bear market. Since late June 2025, they’ve bought every single week without fail. You won’t find another buyer in the market with this level of unwavering spot demand.
Stopping doesn’t mean dumping (the official line: keep staking, use staking rewards to maintain the 5% cap, and stop raising money to buy more coins). But without this buyer showing up like clockwork every week, short-term marginal buying demand for $ETH is bound to thin out. Lee is touting a $ETH target of $10,000 while setting a line at which he’ll stop buying—there’s something worth pondering there.
#以太坊 #ETH #Bitmine