Bitmine holds ETH worth approximately $13.6 billion, reaching 99% of its 5% target

Odaily reports: Digital asset treasury company Bitmine added 9,587 ETH, bringing its holdings to 6,070,092 ETH, valued at approximately $13.6 billion, accounting for 4.97% of ETH's total supply. The company stated that this ratio has reached 99% of its goal to hold 5% of ETH's total supply.

Ethereum co-founder Vitalik Buterin posted on X explaining his rationale for viewing ETH as a store of value, including his view that the role of fee burning is no longer as significant as before, and that optimizing around fee burning may conflict with decentralization.

As of November 8, Bitmine's total holdings were valued at $14.3 billion, including 216 bitcoin, $475 million in cash and marketable securities, $180 million in Beast Industries equity, and $75 million in Eightco Holdings positions. (Decrypt)