The post ‘Biggest macro trend’- BitMine’s Ethereum treasury holdings hit $3B appeared on BitcoinEthereumNews.com.
Key Takeaways BitMine now holds 833K ETH, worth over $3 billion, making it the world’s largest ETH treasury firm and the third biggest player in crypto treasury. Will ETH remain below $4K?  BitMine Immersion Technologies (NYSE: BMNR) has scaled its Ethereum[ETH] treasury holdings to 833.1K ETH, approximately $3.05 billion based on market prices at press time. This followed the latest purchase of 208.1K ETH on the 4th of August, making it the world’s largest ETH treasury. BitMine had about twice the holdings of the second-largest ETH treasury firm, SharpLink Gaming, which was 438.2K ETH ($1.6 billion), at press time. Among crypto treasuries, the firm was ranked third after MicroStrategy and Mara. Source: BitMine Tom Lee: ETH is the biggest macro trend of the decade The aggressive 833K ETH acquisition has been done in less than two months. According to Tom Lee, the chairman of BitMine and FundStrat CEO, ETH is ‘the biggest macro trend.’ “ETH remains one of the biggest macro trends for the next 10-15 years, as Wall Street financializes on blockchain and as AI tokenizes robots.†BitMine plans to hold 5% of the total ETH supply, about 6 million ETH. At 833K ETH, the firm’s target was only 13% complete. Besides, it could be the first treasury player to cross 1 million ETH in holdings soon, according to Ryan Adams, crypto investor and host at the Bankless. Adams added that at the current pace of aggressive accumulation, the ETH may not stay below $4K for long. Matter of fact, Mike Novogratz, founder of Galaxy Digital, projected that ETH will break above $4K this year. For Lee, the altcoin’s fair value would be $5.7K in the medium term. Since the ETH crypto treasury exploded in July, the overall ETH acquired by ETFs and the public companies rose from $17…
