Tom Lee's Bitmine Continues to Buy Ethereum, Now Holds 4.8% of Its Total Supply. Should Investors Follow His Lead and Buy ETH?
The world's largest corporate holder of Ether continues to buy more tokens.
Overview
Tom Lee, the founder of Fundstrat Global Advisors and prolific crypto bull, joined Bitmine (NYSE: BMNR) as its chairman last year. Under Lee, Bitmine evolved from a Bitcoin (CRYPTO: BTC) miner into the world's largest corporate holder of Ethereum (CRYPTO: ETH).
As of Aug. 10, Bitmine held 5.81 million Ether tokens, or 4.8% of its entire supply of 120.7 million tokens. It also reiterated its goal of acquiring 5% of Ether's supply. Should investors follow Lee's lead and buy more Ether, which has declined nearly 60% over the past 12 months?
Image source: Getty Images.
Details
Source
Originally published at www.fool.com.
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