BitMine Don Raise Di Total Share Limit to $24.5B for ETH Purchase
BitMine Immersion Technologies don submit tins for U.S. SEC to raise dem at-the-market (ATM) share sale limit from $4.5 billion go $24.5 billion. Dis na di third time since July, after the first two times wey dem authorize na $2 billion and $4.5 billion. Di company go use di new money mainly to buy more Ethereum (ETH) and invest for Bitcoin (BTC), and e get plan to grow im crypto mining and consulting business. BitMine dey hold over 1.15 million ETH now, wey make dem be di biggest corporate Ethereum treasury. Fundstrat chairman Tom Lee dey expect say more institutional support and clearer regulation go bring ‘Ethereum MicroStrategy’ era, wey fit push ETH price pass $30,000. As of now, ETH dey trade close to $4,700, wey show say market momentum strong and big players’ activity dey increase.
Bullish
BitMine decision to expand dia ATM share sale program reach $24.5 billion show say big institutions get strong confidence for Ethereum because majority of the money dem wan use buy ETH. The company wey get now 1.15 million ETH for treasury dey show say companies dey want am well well, plus Tom Lee 'Ethereum MicroStrategy' forecast and price target wey dey above $30,000 still dey add positive vibes. For short term, more big ETH buys fit make supply tight and help price go up; for long term, steady institution money and growing corporate treasuries fit keep the market gbenro gbenro.