Bitmine writes history. The listed company now has more than 2 million Ethereum (ETH), a value of nearly $ 9 billion. This makes it the largest Ethereum treasury in the world.
At the same time, Cathie Woods Ark Invest increases its interest, a signal that the interest of major funds in Ethereum is increasing further.
New purchases by Ark Invest
On the same day that Bitmine announced the new milestone, Ark Invest from Cathie Wood again bought shares in the company. In total, the funds of ARK took 101,950 shares, with a value of 4.4 million dollars.
The purchase was divided into three funds: Ark Innovation ETF, Ark Next Generation Internet ETF and Ark Fintech Innovation ETF. Together these funds now have 6.7 million Bitmine shares, with a total value of 284 million dollars. Since April, when Bitmine started building his Ethereum reserve, Ark has greatly expanded its position.
Bitmine’s stock price responded positively. The share closed 4.1 percent higher at $ 44.10 yesterday. Since the beginning of this year, the rate has even risen by 525 percent. The company has expressed the ambition to get 5 percent of the total Ether offer in possession. With 2 million ETH, 34 percent of that goal has now been achieved.
Tom Lee sees long -term potential
Bitmine is led by chairman Tom Lee, who is known as a pronounced optimist about Ethereum. He calls the currency one of the largest macrotrades for the next ten to fifteen years.
In an interview with CNBC, Lee emphasized that an interest rate reduction by the US central bank can have a double positive effect. Lower mortgage rates and more confidence at companies could give both shares and crypto a boost.
It is striking that the Ethereum course itself has hardly been moving in recent weeks. The coin continues to fluctuate around $ 4,300. Yet that does not seem to brake the buylust in large funds.
Source: https://newsbit.nl/bitmine-bezit-nu-voor-9-miljard-aan-ethereum-koers-aandeel-stijgt-525/
