‘Biggest macro trend’- BitMine’s Ethereum treasury holdings hit $3B
Main Idea
BitMine Immersion Technologies has become the world's largest ETH treasury firm with holdings worth over $3 billion, and industry leaders predict ETH's value could rise significantly in the coming years.
Key Points
1. BitMine holds 833.1K ETH, worth approximately $3.05 billion, making it the largest ETH treasury firm and the third-largest in crypto treasuries overall.
2. Tom Lee, chairman of BitMine and FundStrat CEO, believes ETH is 'the biggest macro trend of the decade' and projects its fair value at $5.7K in the medium term.
3. BitMine aims to hold 5% of the total ETH supply (about 6 million ETH), with its current holdings representing only 13% of this target.
4. Mike Novogratz, founder of Galaxy Digital, predicts ETH will break above $4K this year, while market data shows ETH's strong performance compared to SOL.
5. ETH's treasury demand has surged, with public companies and ETFs increasing their ETH holdings from $17 billion to $28 billion since July.
Description
ETH's narrative has remained strong compared to SOL since Q2.
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