BitMine is closing in on its goal of owning 5% of Ethereum’s total supply.
By October 4, the company held over 6M $ETH worth roughly $16.4B at the reported price.
That’s a huge amount of ETH concentrated in one company’s treasury, and most of it is already staked.
Tom Lee says BitMine will stop accumulating once it reaches 5%.
What happens to ETH demand when one of its biggest recurring buyers hits its own limit?
By October 4, the company held over 6M $ETH worth roughly $16.4B at the reported price.
That’s a huge amount of ETH concentrated in one company’s treasury, and most of it is already staked.
Tom Lee says BitMine will stop accumulating once it reaches 5%.
What happens to ETH demand when one of its biggest recurring buyers hits its own limit?