You won’t believe how much Ethereum Tom Lee’s Bitmine now holds
Ethereum’s (ETH) climb past $4,600 has been met with a powerful show of confidence from one of Wall Street’s most outspoken crypto advocates. BitMine, linked to Fundstrat co-founder Tom Lee, now holds more than $7.08 billion worth of Ethereum, according to data from on-chain intelligence platform Arkham on Wednesday, August 27. The entity’s 1.538 million ETH makes it one of the single largest corporate treasuries in the crypto space. In the last 24 hours, Bitmine added another $21.3 million in ETH, underscoring its aggressive accumulation strategy. Market trackers suggest the firm is aiming for control of 5% of Ethereum’s total circulating supply, $27 billion at current prices. Ethereum holdings in Bitmine portfolio. Source: Arkham Rotation into Ethereum from Bitcoin The scale of the bet reflects a broader capital rotation unfolding across digital assets. On Tuesday, analysts noted a significant shift from Bitcoin (BTC) into Ethereum, with futures activity, ETF...