Bitcoin Mining Birmin Bitmin Immersion Technologies bought more than $ 2 billion in ether in just 16 days, set back from the advance from a wave of newly formed Ether cash companies.
Bitmine said in a statement on Thursday that in the last 16 days, he had bought 566,776 ether (ETH), worth more than 2.03 billion dollars.
Tom Lee, managing partner of Fustratt and president of Bitmine, said that after the last purchasing frenzy, the company is “on the right way to achieve our objective of acquiring and marked 5% of the overall supply of ETH”.
Aggressive Bitmine purchases indicate an increasing interest in Ethereum institutions.
Strategic ether reserves show the Bitmin as the largest Ether cash company, followed by Sharplink Gaming with around 360,800 ETH and the Ethereum Foundation, which is listed as holding around 237,500 ETH.
Bitmin wants 5% of ether supply; Saylor has only 2.9% of Bitcoin
At the current offer of Ether, 5% of all ether is equivalent to around 6 million ether, costing around $ 22 billion at current prices.
Ether has no fixed supply; It can increase or decrease depending on whether more ethn is burned than the program (which would make it deflationist).
If he succeeds, Bitmin would hold a greater part of the ether offer than the company of Michael Saylor, Strategy, currently Bitcoin, or 607,770 Bitcoin (BTC), which represents 2.9% of the offer of 21 million pieces of Bitcoin.
However, Saylor said he would continue to accumulate Bitcoin as a long -term treasure asset.
Meanwhile, Bitmine reversed Sharplink Gaming again as the largest corporate ether holder.
Tuesday, Sharplink Gaming declared a purchase of 79,949 ether, bringing its total assets to 360,807, worth around 1.3 billion dollars at current market prices.
Profeed from the Ether pivot
Bitmin and Sharplink Gaming saw their courses pump actions after announcing plans of Treasure Ether.
A few days after announcing its intention to buy ether, Bitmin Stock (BMNR) has skyrocketed more than 3,000% at a summit of $ 135 all time on July 3.
Meanwhile, following its announcement on the Ether pivot on May 27, the share price of Sharplink Gaming (SBET) increased by 171% to negotiate at $ 79.21.
In relation: Wood Cathie Vend Coinbase, Roblox actions for Tom Lee’s ETH company
Billions of ether in strategic reserves
There are currently 2.31 million ether held in 61 strategic reserves, which represents 1.91% of the total supply, worth $ 8.46 billion, according to strategic ether reserves.
In comparison, Bitbo data show that 206 companies have more than 3.4 million Bitcoin, which is worth more than $ 408 billion and represents 16.5% of the total supply.
Review: High conviction that ETH will increase 160%, the opportunity for soil feeling: trade secrets
