B3bit

06/23 13:28看涨

Can Bitmine’s $10B ETH strategy pay off as Ethereu

#World Cup Predictions: 100,000 USDT Daily #BTC Prophet: 20-Day 380 Million HTX Challenge #HTX Creation Challenge — Post and Win 1,500U 💥

Can Bitmine’s $10B ETH strategy pay off as Ethereum prices stay weak? Last week, Tom Lee’s Bitmine purchased an additional 52,203 Ethereum [ETH] for $92 million as the market struggled to pick up pace. With this, Bitmine now has 5,672,956 ETH, valued at $10 billion.  For context, Ethereum’s price was in the bear market, trading at $1,689.19 at press time following a 2.51% decline over the previous day. The spot ETH ETF, meanwhile, has been experiencing a run of outflows, with $66.1 million recorded on the 22nd of June. In addition to amassing ETH, Bitmine also has 4,718,677 ETH staked in total, valued at $8.2 billion at an average price of $1,733 per ETH.  This raises the question of why Bitmine is adding ETH despite weak market momentum.  Lee emphasized the company’s intention to keep building up at a steady pace through 2026. He believes the market is currently in the early stages of a fresh bullish cycle, which he called the “crypto spring.” The best years for crypto remain ahead, in our view. Tokenization and the rapid progress in AI are expected to drive exponential demand growth for blockchain and decentralized crypto. Additionally, he mentioned the company’s objective to achieve the “alchemy of 5%” by 2026. Even recent concerns that the Ethereum Foundation might not be able to finance future network upgrades were dismissed by him, as he said, In my opinion, zero chance of this ‘crisis’ happening for $ETH. Zero. Funding secured. These could be the cause of Bitmine’s increased Ethereum additions despite ETH’s weak market dynamics. In addition, bullish traders are also holding onto their positions even though Ethereum has dropped about 65% from its peak, suggesting that long sentiment is still strong.

2分享