BitMine raise di equity offering to $24.5B make dem buy more Ethereum
BitMine Immersion Technologies wey Tom Lee dey lead don increase e at-the-market equity offering by $20 billion make e reach total $24.5 billion so dat dem go fit buy more Ethereum. Di program wey dem first authorize for $4.5 billion don carry come dis big money. Dem go use Cantor Fitzgerald & Co. and ThinkEquity LLC take sell di shares, dem fit collect up to 3% commission. BitMine dey trade under ticker BMNR for NYSE American. Dem dey hold over 1 million ETH (wey worth about $5 billion), and dem wan secure 5% of all Ethereum wey dey. Tom Lee talk say ETH fit jump reach $7,000 to $15,000 by end of year, and dem dey build the company Ethereum stockpile. Ethereum price dey around $4,400, e don increase 4% in 24 hours. Dis action show say more big organizations dey want ETH, and e fit make supply short, wey fit affect market movement.
Bullish
BitMine dem sabi e go expand im equity offering well well to raise money for buy Ethereum, dis one show say institutions get correct confidence for ETH. Dem dey target 5% of total supply, so BitMine go increase demand and e fit reduce how much ETH wey dey circulate. Just like how MicroStrategy take do for im Bitcoin strategy, when big companies hold plenty crypto e dey usually make price go up. For short time, planned market buy fit ginger price shoot up cos people go dey buy more. For long run, if institutions dey keep am accumulating, e go make supply tight and hold price high, e mean say price for Ethereum go fit continue to climb.