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Bitmine Buys 52K ETH as Tom Lee Believes the Best Years for Crypto Are Still Ahead
The rough market conditions and the global uncertainty have failed to faze the Tom Lee-chaired Ethereum buying machine, as Bitmine has spent approximately $90 million to acquire 52,203 ETH over the past week.
Lee remains highly bullish on the industry, despite the repeated rejections at key price levels and the fact that Bitmine is still billions of dollars in the red on its ETH position.
Closer to 5%
With the latest acquisition, Bitmine’s total ETH holdings have grown to 4.7% of the asset’s entire supply. Thus, the company is 94% of the way toward its 5% goal within less than a year since it began its Ethereum acquisition spree. It remains at the forefront of ETH accumulation.
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