Tom Lee’s BitMine has made a substantial move, accumulating over $1.7 billion in Ethereum following the recent market downturn. This acquisition signifies an increased institutional confidence in Ethereum and could impact its role within the financial infrastructure. Lee’s strategy aims to eventually control 5% of ETH supply, aligning with his vision for Ethereum’s future as a major asset within the digital finance landscape. 3 million ETH holdings are now positioned as a significant indicator of this confidence. The move comes after a recent crypto market correction that led to price decline in ETH, according to Lee. The goal is to solidify their position in the crypto world and potentially influence market dynamics. BitMine’s strategic purchase could create upward pressure on ETH prices driven by increased buy-side liquidity, as it becomes more readily available for investment. This move may also prompt regulatory interest from entities like the SEC.