Crypto roundup: Ether slides after BitMine's Tom Lee signals end to coin buying
BitMine Immersion Technologies will stop purchasing Ethereum after reaching its hard cap of 5% of total coin supply. ETH is down 5% to $2,564 on the news following the fresh comments at the Token2049 conference in Singapore."We are currently at 6 million ETH, which took us over a year. We thought this would take five years," BitMine's Tom Lee declared. "We were glad to buy it cheaply; we bought a lot at $1,500, but it's in the middle of a bear market, and we are now going to stop. We only need to get another 100,000 ETH to get to 5%."Content provided by Seeking Alpha is intended for information purposes only, and that Seeking Alpha does not offer any personalist investment advice and is not a licensed securities dealer, broker, US investment adviser or investment bank.