In the dusty back alleys of crypto, where dreams are bought and sold like vintage whiskey, Tom Lee’s BitMine makes a move. They’ve snagged a hefty 7,660 Ethereum-worth nearly thirty million dollars-purchased out of sight from the everyday gambler’s eye, courtesy of Galaxy Digital’s secretive OTC desk. Fancy that, slipping through the cracks like a fox in the henhouse.
Arkham Intelligence reports that Galaxy handed over two hefty handfuls of ETH-3,818 and 3,842-like passing notes in class, all at around three thousand eight hundred twenty-three dollars a coin, nearly on the dot with the market’s rhythm. Easy money, or so it seems, for those in the know, shuffling stakes quietly while the herd chews cud at public exchanges.
The Big Dream: 5% of Ethereum, and maybe a yacht or two
Behind closed doors, Tom Lee’s crew dreams big-of gobbling up 5% of all ETH in circulation, a giant slice of the digital pie. Right now, they’re nibbling at 2.8%, enough to make every other holder look over their shoulder. With about $12 billion riding on those coins, they’re not just dabbling-they’re splashing in the pool like the biggest kid at the block party.
This year alone, they’ve been busy-snatching over $800 million in ETH, distracting the markets like a magician pulls rabbits out of hats, all while quietly raising hundreds of millions more through share sales, avoiding the wild rollercoaster on the open market like it’s a bad date.
Skepticism: $5,000 ETH or just a mirage? 🤔
Meanwhile, the small fry of traders are sniffing around, doubting whether Ethereum can hit the shiny $5,000 mark by December. The latest crystal ball-Kalshi’s prediction market-drops that probability from 40% down to a modest 31%, thanks to the Fed’s cautious interest rate dance. Seems Wall Street’s jitters are rubbing off on crypto.
Ethereum’s current stat: $3,879, drifting down a smidge-barely a blip in the grand scheme, but enough to leave some folks scratching their heads. October’s monthly dip totaled 13%, a gentle reminder that in crypto, even the giants sometimes wobble.
Yet amid the doom and gloom, analyst Ted Pillows (yes, that’s a real thing), whispers that with a few more whales hopping aboard-like our friends at BitMine-Ethereum might just wake up and do a moonshot. “They’re tossing millions into ETH every week,” he says, “just enough to keep the fire burning. More big fish, and who knows?”
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2025-11-02 00:03