Recently, the cryptocurrency sector has welcomed a significant piece of news. A company supported by well-known investors, BitMine, has launched its stock options trading on the New York Stock Exchange. The company's goal is noteworthy: it plans to acquire 5% of the global Ethereum supply.



The stock code for BitMine is BMNR, and since the company announced its shift to an Ethereum accumulation strategy, its stock price has shown a significant upward trend. Notably, Founders Fund has now become the largest shareholder of BitMine, while ARK Invest also purchased $182 million worth of shares this week to participate in Ethereum investment.

As of July 17, data shows that the total value of Ethereum held by BitMine has surpassed $1 billion. This move not only reflects institutional investors' confidence in Ethereum but may also have a profound impact on the market supply and demand for ETH.

The launch of options trading by BitMine on the New York Stock Exchange marks a further integration of traditional financial markets and the cryptocurrency sector. With the participation of more institutional investors, the Ethereum ecosystem may usher in new development opportunities and challenges.

However, BitMine's large-scale hoarding plan has also sparked discussions in the market about the level of decentralization of Ethereum. Some analysts believe that such a concentrated holding may impact the price volatility of ETH and network governance.

In any case, BitMine's movements will undoubtedly become one of the focal points of the cryptocurrency market. As the situation develops, we will continue to monitor this significant event that could change the Ethereum landscape.
ETH3.17%
ARK3.6%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 6
  • Share
Comment
0/400
GmGnSleepervip
· 2h ago
Be Played for Suckers again.
View OriginalReply0
HashBanditvip
· 07-25 05:44
back in mining days we dreamed of this... but centralization gives me anxiety fr
Reply0
SerumSurfervip
· 07-23 17:49
bullish
View OriginalReply0
Ramen_Until_Richvip
· 07-23 17:42
What's the big deal about just collecting five points?
View OriginalReply0
SelfCustodyIssuesvip
· 07-23 17:40
The institutions are playing people for suckers.
View OriginalReply0
DeFi_Dad_Jokesvip
· 07-23 17:27
eth has mooned
View OriginalReply0
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)