DeutschThe US-based Bitcoin miner Bitmine rises to become the world’s second-largest institutional crypto investor after Strategy. The publicly traded company adapted Michael Saylor’s investment strategy and is now applying it to Ethereum. The company has been applying the concept for less than two months. Now the chairman reveals why they chose ETH.
Bitvavo, one of the leading exchanges from Europe (Netherlands) with a large selection of cryptocurrencies. PayPal deposit possible. Extra: 10 Euro bonus when registering via CoinPro.ch
Bitmine Rises to Become the Second-Largest Crypto Investor after Strategy
The US company Bitmine rises to become the second-largest institutional crypto investor in the world after Strategy – the company itself announced this yesterday in a press release.
Bitmine’s core business is Bitcoin mining. At the same time, the publicly traded company is creating a crypto reserve to serve as a proxy investment for digital assets.
According to Bitbo, Bitmine currently holds 154 Bitcoin worth $154 million. Although the company itself mines Bitcoin, it now primarily relies on another cryptocurrency: Ethereum.
“We are announcing that Bitmine’s cryptocurrencies exceed a value of 6.62 billion US dollars today,” announced the company.
This puts them ahead of Marathon Digital – also a US-based Bitcoin miner. However, they are very far from the first-placed company named Strategy, which holds Bitcoin worth around 73 billion US dollars.
You are currently seeing a placeholder content of X. To access the actual content, click on the button below. Please note that data will be passed on to third-party providers.
“Bitmine’s crypto holdings now rank 1st in the Ethereum treasury and 2nd in the global crypto treasury, behind Strategy Inc (MSTR), which owns 628,946 BTC worth $74 billion”, wrote Bitmine.
Particularly noteworthy: The radical Ethereum investment strategy only started on June 30th. In the meantime, the company has accumulated so much capital in the form of Ether that many long-established Bitcoin investors have already been overtaken.
Ethereum does not have a maximum supply. There are currently 120.7 million ETH in circulation. Bitmine already owns 1.52 million tokens – a share of 1.26 percent.
This is why Bitmine Prefers an ETH Investment over BTC
It is only a few months ago that Ethereum was at the center of heated disputes. In the meantime, a new leadership team has brought calm to the ecosystem. Over the last few months, confidence has grown that ETH could once again realize its potential and live up to its role in the future.
Although these turbulent times only came to an end in the spring, Bitmine is already enthusiastic about Ethereum. The company speculates that a large part of the financial world will take place via the blockchain in the future.
“We remain convinced that Ethereum will be one of the biggest macro trades of the next ten to 15 years. The entry of Wall Street and AI into the blockchain is likely to lead to a profound transformation of today’s financial system. And most of it takes place on Ethereum”, argued Thomas Lee, Chairman of Bitmine.
The recent increase in the trading volume of the Bitmine share is attributed to the start of the Ethereum reserve. The BMNR share is currently in tenth place on the US stock exchanges. The daily trading volume averages 6.4 billion US dollars.
