On August 28th, according to CryptoISO, BitMine has reported holding more than 1.70 million ETH, and to reach the reserve target of 5% of Ethereum supply, it needs to purchase about 4.30 million additional ETH. At the current price ($4534), the transaction will cost about 19.50 billion US dollars, and when the ETH price is close to $4,200, this cost will drop to about 18.20 billion US dollars. The daily trading volume of ETH is estimated at 30 billion to 50 billion US dollars.
The analysis pointed out that compared with Michael Saylor who used to sweep the goods with a large order of 5-1 billion dollars, each time he could push the price of Bitcoin up by more than 2% in an instant. Tom Lee is obviously more sophisticated, but this also means that after the low of 4060 ETH, there is a high probability of an "invisible floor" in the 4200-4400 range.
Analysis: At the current price, BitMine still needs to invest about $19 billion more to reach the "5% Ethereum supply" target
2025-08-28 05:16:15
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