BitMine Appears to Buy 6,000 More Ether Worth About $11.18 Million
Suehyeon Lee
Summary
- Signs have emerged that BitMine bought additional Ether (ETH).
- BitMine received 6,000 ETH worth about $11.18 million from FalconX.
- BitMine is continuing large-scale purchases as it pursues a strategy of building Ether into a core treasury reserve asset.
Forecast Trend Report by Period
BitMine, led by Fundstrat co-founder Tom Lee, appears to have added to its Ether holdings.
On July 14, on-chain analytics platform Lookonchain reported that BitMine received 6,000 ETH, worth about $11.18 million, from FalconX, an institutional digital-asset trading platform.
The market is treating the transfer as a likely additional purchase by BitMine. The company has recently been pushing a strategy of building Ether into a core treasury reserve asset and has continued making large-scale purchases.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.