Bitmine Adds 53,501 Ether as Tom Lee Calls It Top Macro Asset
Bitmine's treasury hit 5.9 million ether after snatching up another 53,501 tokens this past week.
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Key takeaways
- Bitmine bought 53,501 ETH over the past week.
- The purchase brings Bitmine's total treasury to 5.9 million ether tokens.
- Tom Lee called ether the best performing macro asset.
Bitmine just scooped up another 53,501 ether over the past week. That latest buying spree drives the firm's corporate treasury to a massive 5.9 million ETH.
Bitmine's Tom Lee calls ether the "best performing macro asset," revealing the company's newest balance sheet flex. They're hoarding native tokens at scale here, choosing raw crypto exposure over boring old cash reserves.
Why it matters
Giant treasury buys suck supply right off open exchanges. Lock up millions of tokens in deep pockets, and seller liquidity dries up fast when sudden swings hit. If rival firms copy Lee's playbook, expect much tighter market depth across major spot venues.
Source: The Block
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