Tom Lee's Bitmine Continues to Buy Ethereum Hand Over Fist. Should Crypto Investors Be Doing the Same?
Tom Lee's bet on Ethereum keeps getting bigger.
Overview
Bitmine Immersion Technologies (NYSE: BMNR) is a digital asset treasury (DAT) company led by chairman Tom Lee, and it's been buying Ethereum (CRYPTO: ETH) weekly for 14 months. On Aug. 17 alone, it bought 9,926 ETH worth around $19 million, only to buy another 32,447 ETH just six days later. The coin's price is up by 28% in the 30 days ending on Aug. 27 alone, a stunning reversal after months of weakness.
But does any of this mean investors should load up on Ethereum like Tom Lee is?
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Source
Originally published at www.fool.com.
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