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

BlockBeats News, December 8, BitMine announced today that its holdings of cryptocurrency, cash, and "potential assets" have reached a total value of $13.2 billion. As of 4:00 PM EST on December 7, the company's asset composition includes:

· 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 BitMine, said: "In the past week, BitMine has increased its holdings by 138,452 ETH tokens. Compared to the average weekly increase of 54,156 tokens four weeks ago (week of November 17), this growth of 156% is significant. Our accelerated buying action reflects our confidence: under the influence of multiple catalysts, the price of ETH will strengthen in the coming months. The Fusaka upgrade (also known as Fulu-Osaka) was activated on December 3, bringing a series of improvements in scalability, security, and usability. The Fed has taken several key actions in December, including ending quantitative tightening and is expected to cut rates again on December 10. It has now been over eight weeks since the October 10 settlement shock event, a period long enough for crypto assets to trade again based on future fundamentals."