Tom Lee's crypto investment firm Bitmine has purchased $213.5 million worth of Ethereum, the company said this week. The single transaction adds a sizable position in the second-largest cryptocurrency to the firm's holdings.
The size of the purchase
The acquisition, executed as a lump-sum buy, is one of the larger single Ethereum trades by a private investment firm this year. Bitmine did not disclose the exact timing or the counterparty. The $213.5 million figure represents a substantial allocation for a firm that focuses on direct crypto investments.
Bitmine and its founder
Bitmine is the crypto investment firm owned by Tom Lee. The company was formed to hold direct positions in digital assets. This purchase adds to the firm's existing holdings, though the total portfolio size is not known.
