Tom Lee, chairman of BitMine, the largest Ethereum treasury company, said the firm has no reason to sell its ethereum out of financial necessity. Staking rewards on BitMine’s ETH stack amount to approximately $300 million per year, against only $30-35 million in annual dividend obligations. BitMine currently holds 4.8% of the total ETH supply, just 200,000 ETH shy of its 5% target. Lee suggested the target may not be a cap if enterprises begin treating ETH as a long-duration treasury asset.
Source: Read the original article
