Tom Lee: Accumulated a total of 4.21% of ETH over 10 months, recently accelerating purchases due to expectations that the market is in the late stage of a bear market

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BlockBeats News, April 27th, Bitmine Chairman Thomas “Tom” Lee stated:

Bitmine’s ETH holdings have surpassed 5 million. This is an important milestone towards the company’s goal of holding 5% of the total ETH supply, which was achieved in just 10 months. Currently, Bitmine holds 4.21% of the total ETH supply (120.7 million).

Over the past four weeks, Bitmine has continued to accelerate its ETH accumulation, as Bitmine’s fundamental expectation is that ETH is in the final stage of a “mini crypto winter.”

Multiple recent research reports, including the latest from Etherealize, indicate that Ethereum (ETH) is a “store of value.” As digital assets become increasingly used in financial transactions, it will be used as collateral. Since the outbreak of the Iran war, Ethereum’s excellent performance has undoubtedly demonstrated this new role. Since the war began, Ethereum’s performance has outperformed the S&P 500 by 1696 basis points and remains the best-performing single asset globally (excluding oil prices).

In addition, Ethereum continues to benefit from two major positive factors: Wall Street’s tokenization on the blockchain and the growing demand for public and neutral blockchain AI systems. In our view, Ethereum becoming the best “wartime store of value” and maintaining a leading position since the war began are of great significance.

ETH-3.37%
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