Bank of America significantly increased its stake in BitMine
The banking giant Bank of America has increased its stake in BitMine 17-fold, purchasing up to 3.1 million shares valued at $86 million. This is a significant move given that BitMine holds over 4.3 million ETH, representing 3.6% of the total supply of the cryptocurrency.
Source SEC
BitMine is one of the largest holders of Ethereum, so Bank of America’s substantial increase in its stake may indicate the bank’s growing interest in expanding its presence in the cryptocurrency market.
Further investments and strategic actions by Bank of America are expected to enhance the bank’s influence in the digital assets sector and stimulate industry development.
