Bitmine buys more ether as Tom Lee says rising ETH/BTC ratio points to stronger crypto prices
CoinDesk·
60-second summary
Bitmine is buying nearly 10,000 ETH from the Ethereum treasury, expanding its stock buyback program as Tom Lee notes a rising ETH/BTC ratio signals stronger crypto prices. This move indicates increased confidence in Ethereum's value, with Lee's prediction suggesting a potential bullish trend for the broader cryptocurrency market, potentially boosting prices.
The Ethereum treasury company added nearly 10,000 ETH while expanding its stock buyback, citing ether outperforming bitcoin is sending a bullish signal.