Tom Lee: BitMine Will STOP Buying ETH After 5% Supply! 😱
Biggest ETH treasury update from TOKEN2049 Singapore!Chairman Tom Lee just announced:
🔹 BitMine holds 6,016,414 ETH = 4.9% of total supply
🔹 Need only ∼100,000 ETH more to hit 5% HARD CAP
🔹 Statement: “That’s a hard cap. We’re not gonna own more than 5% of Ethereum.”
🔹 After that - NO MORE BUYINGWhy this matters?
BitMine bought most ETH in bear market to defend price. Now they will stop raising capital for ETH buys.
Staking rewards (84% of holdings staked) may still push them above 5% - they will sell rewards to stay at cap.
Is this BEARISH for ETH? Or they will start pumping after hitting cap?
ETH is down 4.5% to $2,477 today after this news.
What will happen when biggest buyer stops buying?
#ETH #Ethereum #BitMine #TomLee #TOKEN2049
Biggest ETH treasury update from TOKEN2049 Singapore!Chairman Tom Lee just announced:
🔹 BitMine holds 6,016,414 ETH = 4.9% of total supply
🔹 Need only ∼100,000 ETH more to hit 5% HARD CAP
🔹 Statement: “That’s a hard cap. We’re not gonna own more than 5% of Ethereum.”
🔹 After that - NO MORE BUYINGWhy this matters?
BitMine bought most ETH in bear market to defend price. Now they will stop raising capital for ETH buys.
Staking rewards (84% of holdings staked) may still push them above 5% - they will sell rewards to stay at cap.
Is this BEARISH for ETH? Or they will start pumping after hitting cap?
ETH is down 4.5% to $2,477 today after this news.
What will happen when biggest buyer stops buying?
#ETH #Ethereum #BitMine #TomLee #TOKEN2049