Tom Lee reports Bitmine will stop accumulating ETH once it reaches 5% of total supply (~6.1M ETH), nearly at target with 6M ETH held.
Macro & Markets ·
At TOKEN2049, Tom Lee disclosed that Bitmine has established a 5% ceiling on Ethereum holdings and intends to halt further purchases upon reaching that threshold. He attributed the target to a suggestion from Vitalik, noting that Bitmine held roughly 6 million ETH at the time of his remarks, equating to 4.9% of total supply, with approximately 100,000 ETH remaining to meet its goal.
The accumulation timeline has significantly compressed. Initially projected to span five years, the holdings buildup occurred in just over one year and took place entirely during a bear market environment, according to Lee's account.
Uncertainty remains around whether the final tranche will be acquired and at what pace. Lee's track record on market forecasts skews optimistic, and his predictions do not consistently materialize, meaning actual outcomes may diverge from his stated expectations and timelines.