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💰 BitMine continues to buy $ETH
The company does not look at what it buys as an asset. Today the company reported that it purchased another 82,353 $ETH, equivalent to $306 millions, last Sunday. All of them accumulated about 3.4 millions $ETH - this is 2.8% of the total supply of cryptocurrency.
Investments are in a floating state and I do not share such a position. When they start selling the asset and who will be able to collect such a volume is not at all clear.
And what will happen to the company if $ETH falls to $800 during a bear cycle? So far, the behavior of such companies during a bear cycle is too unclear.