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Tom Lee and Bitmine $BMNR currently hold 3.2% of the total Ethereum supply... Below is their holding status as of December 7.
- Ethereum $ETH price increased from 3.73 ETH on November 30 to 3,864,951 ETH
- Bitcoin $BTC count rose from 192 bitcoins last week to 193 bitcoins
- $1 billion in unsecured cash
- Investment of $36 million in Eightco
Tom Lee stated in the press release:
In the past week, BitMine acquired 138,452 ETH tokens. This is an increase of 156% compared to 54,156 tokens four weeks ago (week of November 17). We have ramped up our purchases, reflecting our confidence in the ETH price strengthening in the coming months, primarily due to multiple favorable factors. The Fusaka upgrade (also known as Fulu-Osaka) activated on December 3 brought a series of improvements in scalability, security, and usability. The Federal Reserve will take several key actions in December, including ending quantitative tightening (QT), and is expected to cut rates again on December 10. It has been over 8 weeks since the liquidation shock event on October 10, a period sufficient for cryptocurrencies to trade based on fundamentals again.
