Bitmine Technologies Tom Lee added another 208 137 ether (ETH) to their treasury Crypto over the past week, exceeding the value of his shares to over $ 3 billion as the price of Eter increases.
The latest purchase pushed the total number of Bitmine to 833 137 ETH, According to to the statement from Monday, because it expands its advantage over the second largest tax company Ether, Sharplink Gaming.
ETH increased by 5.8% from the lowest to the highest 24-hour price $ 3,730 on Monday, but since then it has fallen to USD 3,654, Coingcko data can be seen.
Bitmine is the price of ETH above USD 3,700, it is the fourth largest tax company cryptocurrency in the world, the ending strategy, Mara Holdings and twenty -one capital. Only 35 days have passed since the company announced the strategy of the Treasury Ethereum.
Presidential company Director for Investment Fundstrat, Tom Lee, and attracted the financing of investors of billionaires Bill Miller III, Stanley Druckenmiller and the Ark Invest Cathie Wood.
Strengthening institutional trust to ETH was a key driver for a triple digital ETH rally in the last three months, giving some distance to competitors such as Bitcoin (BTC) and Solana (SOL), which lead the current cycle of the bull.
Bitmine still dominates the ETH accumulation breed
Brisk accumulation caused a competitive race among the Ethereum treasury companies.
“Bitmine moved at an instant speed in pursuit of” 5%alchemy “ETH, increasing our ETH shares to over 833,000 from zero 35 days ago,” Lee said, adding:
“We separated among the tax peers of cryptography both by the speed of raising cryptography to action and high fluidity of our actions.”
Several competitors in the race
Sharplink has a second largest eth pile with over 438 200 coins worth $ 1.61 billion, while the ether machine is third of 345 400 ETH for its name later making Purchase of $ 40 million on Monday.
Related: Ether is unlikely to break $ 3,800 without stronger institutional demand
The Ethereum and SAC Pulsechina Foundation round the top five at 232 600 ETH and 166 300 ETH. data can be seen.
Lee divides scarce moods about the market stubborn in August
Lee told CNBC that he expected market prices to rise in August due to the last work of the workforce signaling the soothing labor market, encouraging the federal reserve to market from tightening to a more capacious policy of alleviating and stimulating apartments.
“I think that in August we will gather quite strongly,” Lee said, adding the standard, and 500 POOR’s 500 can return to the nearest next weeks, and taking into account the powerful correlation of the cryptographic market with a wider market, such a result would probably push Ether and the cryptographic market.
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