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Tom Lee indicates Ethereum has bottomed out, BitMine makes massive purchases
According to news from HashChain, Tom Lee believes that Ethereum has already bottomed out, and BitMine is actively increasing its holdings. Compared to two weeks ago, our Ethereum purchases have more than doubled. Tom Lee and BitMine are increasingly optimistic about Ethereum's prospects over the next 10 to 15 years, especially as Wall Street has embraced the Ethereum network and its role in future finance. Wall Street is choosing to utilize this blockchain to position itself for the future, which is a significant ‘epiphany’ moment for them. Currently, Wall Street aims to tokenize everything but will not build on Bitcoin—they need a smart contract platform. Recently, the company significantly increased its Ethereum position, purchasing over 138,452 ETH last week, worth approximately $460 million at current prices. This is the largest transaction since BitMine bought over 200,000 Ethereum in October. As of Wednesday, the company holds about 386,400 ETH, accounting for roughly 3.2% of the circulating Ethereum supply.
$ETH #Ethereum #BitMine #Cryptocurrency #Blockchain #Investing