Ah, the intoxicating scent of institutional wealth circling like vultures around Ethereum! BitMine, in its infinite wisdom (and wealth), has once again decided to grace us with its massive presence. What have they done this time? Oh, just a casual $417 million splurge on Ethereum. Nothing too extravagant, of course. But that’s BitMine for you – never one to shy away from a good deal! 😏
Summary
- BitMine has decided to expand its Ethereum treasury with a staggering $417 million purchase, adding 104,336 ETH to its growing pile, bringing the total to over 3.03 million ETH. 🤑
- In just the past week, BitMine has picked up more than 300,000 ETH, fueling the ongoing institutional love affair with ETH as a treasure chest. 💸
- Tom Lee, Chairman of BitMine, sees Ethereum soaring to $10,000-$12,000 by the end of 2025. Why? Corporate adoption, tokenization, and U.S. regulations – oh my! 🚀
Ah, but wait! BitMine, never one to miss an opportunity, has added a cool $417 million worth of Ethereum to its ever-expanding corporate reserves. And where did they get all this lovely ETH from? Well, according to the ever-accurate Lookonchain data, they managed to scoop up 104,336 ETH in just a matter of hours, spreading it across three new wallets like a true connoisseur of blockchain wealth. Thank you, Kraken and BitGo! 😅
Now, with this latest acquisition, BitMine’s Ethereum stash has officially crossed the 3.03 million mark – a whopping 2.5% of the entire ETH supply! Because, you know, who doesn’t love a little monopoly? 😜 And in the past week alone, they’ve amassed over 300,000 ETH, taking full advantage of the recent dips in the market like savvy financial masterminds. Talk about bargain hunting!
BitMine’s Chairman, Tom Lee, is now a man on a mission, embracing the strategy of buying assets at a “substantial discount to the future.” A philosophy as bold as it is reckless – but hey, it’s worked so far. 💡
And with 3 million ETH under its belt, BitMine is halfway toward its grand goal of owning a full 5% of all Ethereum in circulation. I mean, why stop at just a small slice when you can control the whole pie? 🍰 With such power, they’ll practically have their fingers in every pie of Ethereum’s liquidity and staking infrastructure. Don’t mind us; we’re just here to watch from the sidelines. 😏
$10k ETH Still a Possibility? Tom Lee Stays Bullish
Now, let’s talk about the man himself, Tom Lee. The ever-optimistic CEO of BitMine has placed his bets on Ethereum, forecasting a possible rise to $10,000-$12,000 by the end of 2025. How, you ask? Well, according to Lee, it’s all about the corporate and sovereign adoption, friendly U.S. regulations, and the ever-growing trend of tokenized finance. Because, who wouldn’t want to be part of the next big financial revolution? 💼
Lee has also highlighted Ethereum’s reputation as a politically neutral, censorship-resistant blockchain. This trait, he believes, will attract an influx of institutional money. Of course, this is all contingent on Ethereum’s performance, which, at the moment, is as cold as a wet towel. Currently trading at a modest $4,022, ETH is down over 2% on the day and more than 10% from its early October highs. But don’t worry, folks – institutional investors are still gobbling up that ETH like there’s no tomorrow.
For Lee’s $10,000 dream to come true, Ethereum would need to rise a staggering 150% from its current level. But hey, who’s counting? With a little bit of renewed risk appetite, a dash of ETF love, and some improved macro conditions, anything is possible. Fingers crossed! 🤞
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2025-10-16 11:00