Tom Lee's BitMine now sitting on 6M $ETH (~4.9% of total supply)
Target: 5%
Current pace: ~21.6K $ETH/week
ETA to 5%: ~5 weeks (early Nov)
Final bag: ~6.1M $ETH
This isn't MicroStrategy buying dips. This is systematically cornering 5% of the entire $ETH supply.
Two things to watch:
1. Can they sustain this buy pressure without moving price against themselves?
2. What happens when the market realizes a single entity controls 1 in 20 $ETH?
If they hit target, this becomes the largest non-exchange $ETH position in existence. Liquidity dynamics could get wild.
Target: 5%
Current pace: ~21.6K $ETH/week
ETA to 5%: ~5 weeks (early Nov)
Final bag: ~6.1M $ETH
This isn't MicroStrategy buying dips. This is systematically cornering 5% of the entire $ETH supply.
Two things to watch:
1. Can they sustain this buy pressure without moving price against themselves?
2. What happens when the market realizes a single entity controls 1 in 20 $ETH?
If they hit target, this becomes the largest non-exchange $ETH position in existence. Liquidity dynamics could get wild.
