BitMine increased its holdings by 138,452 ETH last week, and Tom Lee is bullish on Ethereum's performance in the coming months.

According to Mars Finance, on December 8th, BitMine announced that its total holdings of cryptocurrencies, cash, and "potential assets" have reached $13.2 billion. As of 4 PM Eastern Time on December 7th, the company's assets consisted of: · 3,864,951 ETH (Ethereum); · 193 BTC (Bitcoin); · $36 million worth of Eightco Holdings (NASDAQ: ORBS) equity; · and $1 billion in cash. Thomas "Tom" Lee, Chairman of Fundstrat and Chairman of BitMine, stated, "BitMine added 138,452 ETH tokens in the past week. This represents a significant 156% increase compared to the weekly average of 54,156 tokens four weeks ago (the week of November 17th). Our accelerated buying reflects our confidence that the price of ETH will strengthen in the coming months, driven by multiple catalysts. The Fusaka upgrade (also known as Fulu-Osaka) was activated on December 3rd, bringing a series of improvements in scalability, security, and usability. The Federal Reserve is taking several key steps in December, including ending quantitative tightening and is expected to cut interest rates again on December 10th. Now, more than eight weeks have passed since the liquidation shock of October 10th, enough time for crypto assets to once again trade based on future fundamentals."