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Bitmine now holds 833K ETH, worth more than $ 3 billion, making it the largest ETH treasure company in the world and the third largest player in Crypto Treasury. Will ETH remain below $ 4,000?
Bitmin Immersion Technologies (NYSE: BMNR) has set its scale Ethereum (ETH) Treasury Holdings at 833.1K ETH, around $ 3.05 billion depending on market prices at the time of the press.
This follows the last purchase of 208.1K ETH on August 4, which makes it the largest Treasury of ETH in the world.
Bitmin had about twice the assets of the second largest cash company in ETH, Sharplink Gaming, which was 438.2K ETH ($ 1.6 billion), at the time of the press.
Among the cryptographic treasury bills, the company was ranked third after Microstrategy and Mara.
Source: Bitmin
Tom Lee: ETH is the largest macro trend in the decade
The aggressive acquisition of 833K ETH was made in less than two months. According to Tom Lee, president of the CEO of Bitmin and Fundstrat, ETH is’THE largest macro trend.
“ETH remains one of the largest macro trends for the next 10 to 15 years, because Wall Street Financing on the Blockchain and as a token, robots.”
Bitmin plans to have 5% of the total ETH offer, around 6 million ETH. At 83kk ETH, the company’s target was only 13% complete.
In addition, he could be the first treasure player to cross 1 million ETH in holdings soon, according to Ryan Adams, Crypto Investor and Host in The Bankless.
Adams added that at the current rate of aggressive accumulation, the ETH may not stay below $ 4,000 for a long time.
In fact, Mike Novogratz, founder of Galaxy Digital, projected This ETH will exceed $ 4,000 this year. For Lee, the fair value of Altcoin would be $ 5.7,000 in the medium term.
Since the Treasury of ETH Crypt exploded In July, the global ETH acquired by ETF and public companies pink From 17 billion to $ 28 billion from press time.
This also underlined the request for Altcoin.
Source: Ethereum Strategic Reserve
In fact, the account of the ETH was so strong that the Sol / ETH ratio has decreased by almost 30% since July and around 50% when followed from May.
In other words, more merchants have stacked ETH Solana (soil), Implying that there was more likely to earn more money by betting on ETH than on floor, at least if the graph remains as it is.
Source: Sol / ETH, tradingView
That said, ETH rebounded from 10% to $ 3.7,000 earlier in the week, but erased part of the recovery gains when writing the editorial’s time.
While the prices of the dynamics have faded since the end of July when ETH struggled below $ 4,000, the $ 3.2,000 were a key support area on the graphics.
Source: ETH / USDT, tradingView
