Intro:
A very big news has come to the market! Tom Lee (who is the co-founder of Fundstrat and now the chairman of Bitmine) has revealed that his firm Bitmine is about to become the owner of approximately 4% of Ethereum's total supply. The biggest thing? He says that the firm does not expect to sell! This is a direct indication that liquidity is being sucked out of the market.
Data That Will Change the Game (The Game-Changing Data):
4% Holding: It is not trivial for a single firm to hold 4% of a major cryptocurrency. This means millions of ETH are now locked out of the market.
No Sell Policy: Tom Lee has made it clear that this is for "holding" and not for "trading". When supply decreases and demand remains the same, prices soar.
Next Target 5%: According to reports, Bitmine aims to control 5% of the total supply.
Market Status ($ETH vs $BTC):
Ethereum ($3,103): Currently a bit sluggish (-0.17%), but smart money is aggressively buying around $3,000.
Bitcoin ($89,571): Consolidating below $90k.
XRP ($2.00): Struggling at the psychological level of $2.
Conclusion:
Tom Lee is considered one of Wall Street's largest and most respected bulls. If he is locking up ETH, it means he sees something ahead that the general public is missing. This is preparation for a "Supply Shock."
