BitMine buys an additional US$44 million of Ethereum…"Goes to US$9,000 early next year"

JOON HYOUNG LEE

Summary

BitMine said it purchased an additional Ethereum (ETH) worth US$44 million.
BitMine forecast that the Ethereum price could rise to as much as US$9,000 in early next year.
Tom Lee, chairman of BitMine, said he also predicted Bitcoin (BTC) would surpass US$100,000 by the end of this year.

The world's largest Ethereum (ETH) holding company BitMine has purchased an additional US$44 million (about KRW 65 billion) worth of Ethereum.

On the 28th (local time), according to LookonChain, BitMine newly bought 14,618 Ethereum that day. At current value, this amounts to US$44 million. The Block said, "The transaction has not yet been officially confirmed by BitMine," and added, "BitMine holds US$10.9 billion (about KRW 16 trillion) worth of Ethereum as of its last official announcement."

Ethereum's price fell to the mid-$2,000s earlier this month and then recovered to the $3,000 range. As of 4:45 p.m. that day, Ethereum was trading at $3,010.26 on CoinMarketCap, down 0.63% from the previous day. Compared with one month ago, it has fallen 25.05%.

BitMine expects Ethereum's price could rise to US$9,000 early next year. In a recent interview, Tom Lee, chairman of BitMine, forecast that Ethereum's price could rise to at least US$7,000 and at most US$9,000 by the end of January next year. Lee also predicted that Bitcoin (BTC) would surpass US$100,000 by the end of this year.

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