BitMine boosts Ethereum holdings to 2.5% of total ETH supply in strategic dip-buying spree
Tom Lee’s BitMine has bought one other $281 million of ETH, taking the idea of ‘shopping for the dip’ to a complete new stage. When the market bought off, BitMine collected. The firm’s total Ethereum holdings now exceed 3.03 million ETH, roughly 2.5% of the total supply, valued at round $12.9 billion.
Blockchain analytics from Lookonchain exhibits extra BitMine-linked wallets receiving over 72,000 ETH ($281 million) in transfers from FalconX and BitGo this week, reinforcing what’s wanting like a coordinated technique by the agency and different OTC desks to construct positions into weak point.
Whales are again on the hunt
BitMine just isn’t alone in its conviction. Analysts at WhaleMap and Arkham note that different giant traders and establishments have been steadily accumulating Ethereum since early October, with greater than 400,000 ETH flowing from exchanges into chilly wallets.
Exchange reserves have fallen to a three-year low, suggesting that giant gamers proceed to maintain long-term positions relatively than commerce short-term volatility. According to on-chain information, cumulative institutional holdings throughout company treasuries and Ethereum ETFs now exceed 12.8 million ETH, over 10% of the total supply.
Tom Lee stays one of the market’s most distinguished Ethereum bulls. He not too long ago reaffirmed his prediction that ETH may attain between $12,000 and $15,000 by the top of 2025, citing Ethereum’s increasing position in tokenization, decentralized finance, and AI-driven infrastructure.
His bullish case rests on liquidity dynamics: as charges fall and threat urge for food returns, Ethereum’s utility and burn price may push it into a real supply squeeze. Lee describes this section as “actual worth discovery,” not hypothesis. In parallel, former BitMEX CEO Arthur Hayes has additionally doubled down, forecasting that Ethereum may attain $10,000 earlier than the top of the 12 months as macro headwinds ease and DeFi exercise rebounds.
BitMine is strategically buying ETH
The timing of these buys just isn’t misplaced in the marketplace. BitMine’s October accumulation adopted a pointy correction that worn out greater than $19 billion in leveraged positions throughout crypto. Ethereum briefly sank under $3,800 earlier than rebounding above $4,100. BitMine’s strategic purchases helped regular confidence throughout these risky classes. As crypto investor Ted Pillows commented:
“Bitmine purchased $279,640,000 in $ETH at present. Big gamers are accumulating Ethereum.”
Behind the numbers, there’s a deeper narrative: institutional actors seem to be positioning for Ethereum’s subsequent development section. With stablecoin settlement volumes on Ethereum surpassing $5 trillion in the third quarter (an all-time high), the community’s dominance as a settlement layer stays unchallenged.
For long-term traders like BitMine, that is much less about timing the market and extra about accumulating the infrastructure layer of a brand new monetary system. In this context, every dip turns into a reduction relatively than a deterrent.
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