Tom Lee, a well-known crypto analyst, has advised investors to 'buy the dip' in Ethereum, following significant inflows into U.S. equity ETFs. This recommendation comes as BitMine Immersion, chaired by Lee, faces pressure on its $11.36 billion digital asset treasury, which includes 3,395,422 ETH and 192 BTC.
Ethereum prices have fallen over 14% this week, impacting BitMine's valuation, which is now closely aligned with the value of its underlying assets. The firm's market value is trading at 1.04 mNAV on outstanding shares and 1.12 on a fully diluted basis, as reported by Blockworks Research.
Tom Lee Recommends Buying Ethereum Dip Amid BitMine's Treasury Pressure
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