Bitmine buys another $68 million in ETH as Tom Lee expects gains
- —Bitmine bought $68 million worth of ETH
- —The company is nearing its goal of owning 5% of ETH supply
- —Tom Lee expects the ETH/BTC ratio to rise and institutional demand to grow
Why it matters: Large corporate ETH purchases support demand and signal confidence in the asset's gains relative to bitcoin.
Source: CoinDesk