As per Bijié Wǎng, Tom Lee recently invested $70 million in Ethereum through his firm BitMine, marking a strategic accumulation that has reignited optimism about the asset's long-term trajectory. Over three days, BitMine purchased 23,773 ETH, increasing its total holdings to over 3.7 million ETH, or more than 3% of the circulating supply. The firm aims to control 5% of the total ETH supply, which would grant it significant influence over staking dynamics and governance. According to blockchain analytics from Lookonchain, the purchases included 7,080 ETH ($19.8 million) on Monday and 16,693 ETH ($50.1 million) over the weekend. This accumulation aligns with broader institutional trends and historical patterns seen in Bitcoin’s 2017 bull run. BitMine’s strategy also includes its MAVN initiative, which offers staking services to institutional investors, further embedding Ethereum into traditional finance. The move is seen as a bullish signal, reinforcing Ethereum’s institutional credibility and positioning it as a foundational asset rather than a speculative one.
Tom Lee Invests $70M in Ethereum, Signaling Institutional Bullish Shift
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