Tom Lee’s Bitmine Immersion Technologies added another 208,137 ETH to its cryptocurrency last week, with its holdings worth more than $3 billion as Ether’s price rose on Monday.
The latest buy pushes Bitmine’s total shares to 833,137 Ether (eth), according to A statement was issued on Monday as it expanded its lead, surpassing Sharplink Gaming, the second-largest currency company.
ETH rose 5.8% from its lowest to its 24-hour high to $3,730 on Monday, but has since fallen to $3,654, Coingecko data show.
Bitmine is priced above $3,700, the world’s fourth largest cryptocurrency company, with a lagging strategy, Mara Holdings and 21 capitals. It has been only 35 days since the company announced its Ethereum Treasury strategy.
The company was hosted by Tom Lee, Chief Investment Officer of Fundstrat and attracted funding from billionaire investors Bill Miller III, Stanley Druckenmiller and ARK Invest Catie Cathie Wood.
Increasing institutional confidence in ETH has been a key driver behind ETH’s triple-digit rally over the past three months Some distance On competitors such as Bitcoin (BTC) and solana (sol), has always led the current bull cycle.
Bitmine continues to dominate ETH accumulation race
Rapid accumulation has inspired fierce competition Ethereum Finance Company.
“Bitmine moves at lightning speed in the “alchemy” of pursuing 5% ETH, increasing our ETH holdings from zero 35 days ago to 833,000,” Lee said.
“We have separated ourselves by increasing the speed of cryptocurrency per share and the high liquidity of our stocks.”
Several competitors participated in the competition
Sharplink has the second largest ETH stack with over 438,200 coins worth $1.61 billion, and Ethernet Ranked third with 345,400 ETH Production $40 million was purchased on Monday.
Related: Ether is unlikely to break $3,800 without stronger institutional demand
this Ether Foundation Pulsechain SAC ranks top five with 232,600 ETH and 166,300 ETH with beautiful strategic data show.
Lee shares rare bullish market sentiment in August
Lee told CNBC that he expects market prices to rise in August as recent labor data mark a softened job market, which encourages the Fed to move from tightening to looser easing and stimulates housing.
“I think we’ll have a strong rally in August,” Lee said, adding that the standard and poor 500 could return to an all-time high in the coming weeks, and that this result could drive higher ether as well as cryptocurrency markets, given the close relevance of the cryptocurrency market to the wider market.
