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Tom Lee @fundstrat is quietly building one of the largest $ETH treasuries ever.
Its secret strategy is:
1/ BitMine sells shares on the open market.
2/ They use the cash to buy ETH directly, piece by piece.
3/ The more ETH they hold, the more confidence they get, which helps them raise more capital.
They’ve gone from mining to holding over a million ETH ($5B+). And let’s remember, ETH can earn yield—and power the backbone of DeFi. This is a long-term accumulation gig.
What risks are no one talking about?
• Equity dilution if share sales outpace ETH gains.
• ETH price swings hit them hard.
• Custody and regulatory play a part too.
But if $ETH becomes the foundation for institutional finance, @BitMNR might look like a genius in hindsight.