Take advantage of the ETH price drop, Tom Lee's Bitmine has acquired an additional 54,156 ETH (~$173M) last week, bringing the total holdings to 3,559,879 ETH (~$11.3B).
Even after purchasing additional ETH and adding $209M cash to the reserve. The company's total assets still decreased by $1.4B compared to the previous week due to the sharp drop in ETH prices.
Tom Lee: "Crypto has not yet recovered after the crash on October 11. Some market makers are under capital pressure, forcing them to reduce liquidity supply, which drags prices down. This effect lasted 6-8 weeks in 2022 and may be similar this year."
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Take advantage of the ETH price drop, Tom Lee's Bitmine has acquired an additional 54,156 ETH (~$173M) last week, bringing the total holdings to 3,559,879 ETH (~$11.3B).
Even after purchasing additional ETH and adding $209M cash to the reserve. The company's total assets still decreased by $1.4B compared to the previous week due to the sharp drop in ETH prices.
Tom Lee: "Crypto has not yet recovered after the crash on October 11. Some market makers are under capital pressure, forcing them to reduce liquidity supply, which drags prices down. This effect lasted 6-8 weeks in 2022 and may be similar this year."