#以太坊投资机会 Seeing that BitMine has increased its ETH holdings by over 100,000 in the past week, the first thought that flashed through my mind was—this is a bet on an era.

Remember the frenzy of the 2017 bull market? Back then, everyone was chasing highs, and institutions were still on the sidelines watching. During the 2018 bear market, many people cut their losses and cursed the market. Then came the slow recovery in 2020, the frenzy in 2021, and the bloodbath in 2022. With each cycle, I see the same pattern repeating—true winners are not those who chase the highs and sell in panic, but those who accumulate steadily when others are fearful.

Currently, BitMine holds nearly 4% of the total ETH supply, and they are still accelerating their purchases this week. This stance feels very familiar. This is not the move of short-term traders; it’s a vote with real money—voting for a belief. Tom Lee has said he will never sell these ETH, and they generate over $1 million in staking income daily. The logic behind this is clear: it’s not about short-term gains, but about long-term cash flow.

Historically, large institutional holdings often signal a market turning point. When Ethereum first launched in 2015, who would have thought that ten years later, institutions would treat it as a strategic asset to accumulate? Now, with improved regulatory environment in the US, increased support from Wall Street, and favorable legislative trends in Congress—these conditions were absent in 2017. Back then, we were groping in the dark; now, we are moving forward with policy support.

Of course, risks exist, but the continuous accumulation by institutions at least indicates one thing: they are betting not on a bubble, but on the maturation of an industry. From past cycles, whenever major institutions start to position like this, market recovery tends to be deeper than we imagine.