Bitmine Chair Sees Historic Crypto Surge Ahead

Tom Lee of Bitmine told investors on 7 October that the present crypto rally has the ingredients to outpace every previous cycle. He pointed to four simultaneous forces lifting demand and giving digital assets a larger role in the financial system.

Lark Davis picked up the forecast on 14 October and ran the numbers. For Lee’s scenario to play out, total crypto market value would need to climb from $2.7 trillion to $6.3 trillion — a $3.57 trillion jump, or 131 %.

Bitmine is already a visible buyer. As of 11 October the firm held 6.03 million ETH, equal to 4.9 % of the 122.1 million supply, with 84 % of those tokens staked and overall holdings worth $16.2 billion.

In a 16-day stretch last summer the company purchased more than $2 billion worth of Ethereum. Once it hits its 5 % target it plans to stop, removing one of the market’s most predictable sources of demand and shifting attention to whoever steps in next.

Based on information from cryptonews.net