Ethereum's biggest corporate buyer is done buying. đŠ
BitMine chairman Tom Lee said at Token2049 that the company will cap its Ether holdings at 5% of supply. They already hold about 6 million ETH â roughly 4.9% â and need just 100,000 more to hit the line. "We're not gonna own more than 5% of Ethereum," Lee said.
The twist: stopping also ends the capital raises. Lee says that means they'll "outperform ETH on the way up" â no more dilution to fund the next buy. The bid that carried ETH through the bear market is officially over.
Can ETH climb the rest of the way without its biggest buyer?
$ETH
#Ethereum #ETH #CryptoNews
BitMine chairman Tom Lee said at Token2049 that the company will cap its Ether holdings at 5% of supply. They already hold about 6 million ETH â roughly 4.9% â and need just 100,000 more to hit the line. "We're not gonna own more than 5% of Ethereum," Lee said.
The twist: stopping also ends the capital raises. Lee says that means they'll "outperform ETH on the way up" â no more dilution to fund the next buy. The bid that carried ETH through the bear market is officially over.
Can ETH climb the rest of the way without its biggest buyer?
$ETH
#Ethereum #ETH #CryptoNews
