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BitMine increased its holdings by nearly 100,000 ETH in a single week, and the chairman is optimistic about the Fusaka upgrade driving coin prices.
[Coin World] BitMine made another move last week, sweeping up nearly 97,000 ETH in one go. Currently, they are holding over 3.72 million Ethereum, which values their assets at nearly 12.1 billion USD based on the current price.
Their chairman Thomas Lee recently stated that he is optimistic about the upcoming Fusaka upgrade, which will go live on December 3rd. In his view, this technological update could bring a boost to the price of Ethereum.
From the perspective of accumulation rhythm, BitMine's recent operations are clearly a preemptive layout. A holding amount of 3.72 million coins is already a presence at the level of a giant whale in the market, and the movements of such large-scale institutions often reflect their judgment on the future market. Whether the Fusaka upgrade can meet expectations and drive the coin price upward will be revealed in the coming weeks.