The Ether Machine buys 15K ETH in $57M purchase, holdings top 334K
Main Idea
The Ether Machine purchased 15,000 ETH for $56.9 million, increasing its total holdings to 334,757 ETH, making it the third-largest corporate holder of ETH, surpassing the Ethereum Foundation.
Key Points
1. The Ether Machine's latest acquisition of 15,000 ETH was made at an average price of $3,809 per Ether, timed to coincide with Ethereum's 10-year anniversary.
2. The company's total ETH holdings now stand at 334,757 ETH, surpassing the Ethereum Foundation's reported 234,000 ETH.
3. Andrew Keys, chairman and co-founder of The Ether Machine, emphasized the purchase as a way to commemorate Ethereum's 10th birthday and deepen their commitment to Ether.
4. The Ether Machine still has $407 million in reserve for additional purchases and donated $100,000 to the Protocol Guild, a Web3 funding initiative supporting Ethereum's core developers.
5. Corporations are accumulating Ether at twice the pace of Bitcoin, with treasury firms acquiring 1% of Ethereum's total supply, fueling ETH's rally and potentially pushing its price above $4,000.
Description
The latest acquisition pushes The Ether Machine’s total holdings to 334,757 ETH, far outpacing the Ethereum Foundation’s reported 234,000 ETH.
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