'Buy 100,000 ETH at once'...Bitmine declares market dominance ahead of '5 million holdings'

▲ Ethereum (ETH)

Bitmine is accelerating its expansion of market dominance by accumulating Ethereum (ETH).

According to cryptocurrency media outlet Cointelegraph on April 20 (local time), Bitmine purchased an additional 101,627 ETH last week. This is the fastest accumulation rate since December last year and the largest volume in a single week. With this purchase, the total holdings have increased to approximately 4.97 million ETH, nearing the 5 million ETH mark. The value of its assets, including cash and other investment assets, amounts to approximately $12.9 billion.

Chairman Tom Lee defined the current market as the final stage of a 'mini crypto winter' and predicted that Ethereum would soon enter a strong bull cycle. He explained that the recent price stagnation was considered a high risk-reward buying opportunity, leading to aggressive accumulation. Bitmine has set a long-term goal of securing approximately 5% of the total Ethereum supply.

Beyond mere holding, Bitmine is also employing a profit generation strategy. Approximately 3.3 million ETH, representing about 67% of its current holdings, are being managed through its proprietary staking platform 'MAVAN'. This is expected to generate over $200 million in annual staking revenue. MAVAN plans to expand into a professional infrastructure targeting institutional investors and custodians in the future.

This strategy is evaluated as similar to Strategy's Bitcoin accumulation. Indeed, Strategy has recently invested trillions of won to purchase large quantities of Bitcoin, expanding its market influence. The actions of both companies are noteworthy as they strengthen the structure where institutional funds support the market's downside.

Experts are focusing on the possibility that Bitmine's large-scale accumulation could exacerbate the supply-demand imbalance of Ethereum. Analysis suggests that if the circulating supply on exchanges decreases due to continuous buying pressure from institutional investors, price upward pressure could increase.

Bitmine appears to be moving to secure long-term market leadership through aggressive asset accumulation. In a trend where virtual assets are becoming core assets in corporate financial strategies, Ethereum is also strengthening its status as a full-fledged institutional asset.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*