Bitmine Buys $20M in ETH as Tom Lee Hails Vitalik Buterin’s Store-of-Value Shift

Bitmine Immersion Technologies has purchased another 9,587 ether (ETH), bringing its holdings to 6.07 million tokens and pushing the company closer to its goal of owning 5% of Ethereum’s total supply. Chairman Tom Lee also welcomed recent comments from Ethereum co-founder Vitalik Buterin describing ETH as a store of value, calling the shift a major development for the cryptocurrency’s future. In a Monday announcement , Bitmine said its holdings reached 6,070,092 ETH as of Nov. 8, representing approximately 4.97% of the cryptocurrency’s circulating supply of 122.2 million tokens. The latest acquisition was worth approximately $20.4 million at ether’s recent price of $2,134. Bitmine’s total ETH stash is currently worth over $12.9 billion.

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