Ah, the marvellous world of finance, where numbers dance like sugarplums and money grows on trees (or so they say)! 🌳💰 Cathie Wood, the wizard of ARK Invest, has waved her wand and conjured up a whopping $4.4 million to buy shares in Tom Lee’s BitMine. Why? Because their Ether treasury just hit a milestone so big, it’d make even Willy Wonka’s chocolate factory blush! 🍫✨
ARK Invest, with a flick of its financial tail, snapped up 101,950 shares of BitMine Immersion Technologies (BMNR) on Monday. 🦄 These shares were sprinkled across three magical funds: The Ark Innovation ETF (now holding a tidy 2.6% of BitMine), the Ark Next Generation Internet ETF, and the ARK Fintech Innovation ETF. Together, they’ve hoarded 6.7 million BitMine shares worth a cool $284 million. 🧙♂️💼
But why the sudden splurge? Well, since April, BitMine has been gobbling up Ether (ETH) like a giant peach devouring greedy adults. 🍑 And ARK Invest, ever the clever fox, has been sniffing around, increasing its exposure to this crypto treasure trove. 🐺
BitMine shares, meanwhile, leaped 4.1% on the day, reaching a dazzling $44.10 in after-hours trading. Since the start of the year, the stock has soared a mind-boggling 460%. 🚀 If that’s not a golden ticket, I don’t know what is! 🎟️
BitMine’s Ether Extravaganza
On the very same day, Tom Lee, the ringmaster of BitMine, announced that their Ether holdings had surpassed 2 million ETH, worth a staggering $8.9 billion. 🎪 In just five months, they’ve gobbled up 1.7% of Ether’s supply, making them the world’s largest Ether treasury company. They’re holding 42% of the entire 4.9 million ETH corporations have collected so far. 🏆
But wait, there’s more! BitMine is only 34% toward its grand goal of hoarding 5% of the Ether supply. So, the buying spree is far from over. 🛒 “We believe Ethereum is one of the biggest macro trades over the next 10-15 years,” declared Tom Lee, with all the confidence of a man who’s just found a golden goose. 🦆✨
Meanwhile, Ether prices have been as still as a pond on a windless day, trading in a tight little channel. 🌊 But fear not, for Tom Lee is bullish about the Federal Reserve cutting interest rates next week. “Lower rates will boost biz confidence and send equities and crypto soaring!” he chirped to CNBC, sounding like a cheerful bluebird on a spring morning. 🐦🌸
Futures prediction markets are buzzing with an 89.4% chance of a 25 basis point cut and a 10.6% chance of a bigger 50 basis point slice. 🎲 Will it happen? Only time will tell, but one thing’s for sure: the financial world is never short on drama, and ARK Invest and BitMine are starring in this circus! 🎪🎭
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2025-09-09 07:50