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Analysis: At the current price, Bitmine would need to invest approximately $19 billion more to reach the "5% Ethereum supply" goal.
BlockBeats News, August 28th, according to CryptoISO, Bitmine has currently reported holding over 1.7 million ETH. To reach a reserve target of 5% of Ethereum's supply, an additional approximately 4.3 million ETH would need to be purchased.
At the current price ($4534), this transaction would require an investment of approximately $19.5 billion. When the ETH price is close to $4200, this cost will decrease to around $18.2 billion. The estimated daily trading volume of ETH is between $30 billion and $50 billion.
An analysis points out that compared to Michael Saylor, who has often made large purchases of $500 million to $1 billion, each time causing the Bitcoin price to instantly rise by more than 2%, Tom Lee is evidently more experienced. However, this also means that after the low point of $4060, ETH will most likely have an "invisible floor" in the range of $4200 to $4400.
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