BitMine is down $4B on Ethereum, so why is Tom Lee buying another 12,532 ETH?
Ethereum
BitMine Immersion Technologies increased its Ethereum holdings last week as Chairman Thomas Lee outlined why he believes the market could be entering its largest crypto bull cycle. The company purchased 12,532 ETH, lifting its treasury to approximately 6.028 million tokens and moving closer to its goal of holding 5% of Ethereum's supply. Lee's bullish forecast contrasts with Ethereum's weaker near-term technical picture and substantial unrealized losses on BitMine's holdings. Lee identifies four potential bull market drivers In a Monday statement, Lee highlighted tokenization, generational wealth transfers, supply absorbed by digital asset treasury companies, and crypto's connection to AI as potential catalysts. https://twitter.
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