Tom Lee Says Bitmine Will Stop Buying ETH at 5% of Supply
AI summary
Bitmine chairman Tom Lee said the company will stop accumulating ether once it holds 5% of the total ETH supply, a ceiling he said Vitalik Buterin encouraged. Bitmine is reportedly about 100,000 ETH away from that goal, ending one of the largest corporate ETH accumulation campaigns on record. Traders care because the removal of a large, steady buyer could shift demand dynamics for ETH, though the plan signals confidence in the asset rather than a sell-off.
Narrative history
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1H AGOYou’re reading thisTom Lee Says Bitmine Will Stop Buying ETH at 5% of SupplyBitcoin.com News · Score 45
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20 OCT · 05:14BeInCrypto · Score 25 · via Lee, Tom
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19 OCT · 17:55CryptoPotato · Score 25 · via Lee, BitMine
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19 OCT · 17:55Bitcoin.com News · Score 45 · via Bitmine, Tom
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19 OCT · 15:13Decrypt · Score 45 · via Bitmine, Lee
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19 OCT · 13:36The Block · Score 45 · via 12535, 12535 ETH
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19 OCT · 05:55BeInCrypto · Score 25 · via Lee, Tom
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14 OCT · 01:28BeInCrypto · Score 15 · via Tom, Lee
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12 OCT · 15:27CoinDesk · Score 47 · via adds ether, Bitmine
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12 OCT · 13:43The Block · Score 47 · via Lee calls, Tom
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12 OCT · 13:33Decrypt · Score 42 · via Bitmine adds, Bitmine
