Tom Lee says BitMine will halt Ether buying at 5% supply cap
Image: CointelegraphTom Lee said at Token2049 that BitMine will cap its Ether holdings at 5% of supply and stop buying after reaching the target. BitMine holds about 6 million ETH and needs about 100,000 ETH more. Lee said the company will not own more than 5% of Ethereum and stopping accumulation removes the need to raise additional funds to buy Ether.
Key points
- Tom Lee said at Token2049 that BitMine will cap its Ether holdings at 5% of supply.
- Lee said BitMine will not own more than 5% of Ethereum's supply.
- Lee said stopping accumulation removes the need to raise additional funds to buy Ether.
Why it matters
BitMine is a large Ether holder. Its plan to stop buying at 5% of supply means it will not add further ETH purchases after reaching the target. Lee said the cap removes the need to raise more capital to buy Ether.
Price context · ETH
At publication
$2,572.82
Now
$2,573.19
Change since
+0.01%
7 days · dashed line = publication
Sources · 2 publishers
CoinGape
Tier 2
BMNR Stock Outlook as Tom Lee Says Bitmine Will Halt ETH Purchases at 5% Supply Target
Coverage timeline
- First reported by Cointelegraph
- Confirmed by CoinGape
- CryptoVideos brief published
How this brief was made. Our system found this event in 2 independent publications, summarised two complete reports with AI and checked every number above against the source text. Sources are linked in full. Not financial advice. Report an error
