Token2049: Bitmine Caps Ethereum Treasury at 5% Supply as Chairman Tom Lee Declares New Bull Run

Get the weekly briefing for Philippine crypto insiders, from the country’s longest-standing crypto and blockchain news publication. Digital asset treasury firm Bitmine Immersion Technologies will halt its ether purchases after reaching a hard cap of 5% of the cryptocurrency’s circulating supply , company Chairman Tom Lee announced during the TOKEN2049 conference. The Nasdaq-listed company currently holds 6 million ether, representing roughly 4.9% of the network’s total supply, and needs to acquire approximately 100,000 additional tokens to hit the ceiling.