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Bitmine bought another 12,535 ETH worth about $30 million, lifting its holdings to 6,041,481 ETH, or 4.9% of supply. The company says it is 99% toward its 5% target as Chairman Tom Lee cites broader risk aversion for crypto’s recent weakness.
Bitmine has purchased another 15,112 ETH, worth about $41 million, bringing its holdings to 6,016,414 tokens and 4.9% of Ethereum’s supply. The company says it is 99% of the way to its 5% target while continuing to stake most of its holdings.
Bloomberg ETF analyst Eric Balchunas said bitcoin ETFs could eventually reach three times the scale of gold counterparts, with younger investors potentially helping drive bitcoin’s development as the asset matures.
Bloomberg ETF analyst Eric Balchunas said bitcoin ETFs could eventually reach about three times the size of gold ETFs as the market matures, with younger investors potentially driving greater demand for bitcoin exposure.
