Bitmine purchases an additional 9,587 ETH… Tom Lee calls Buterin's remarks a 'seismic shift'

BitMine said it acquired an additional 9,587 ETH over the past week, bringing its holdings to 6.07 million tokens, or 4.97% of Ethereum's total supply, as of April 8. The disclosure came alongside comments from Ethereum co-founder Vitalik Buterin, who argued on X that ETH should be valued for its store-of-value role and the network's decentralization and stability rather than for fee burn. Decrypt framed the remarks as a contrast with the "ultra sound money" thesis, which holds that ETH supply shrinks when transaction fees burn more tokens than are issued. The shift matters because BitMine's treasury strategy and the broader ETH narrative have leaned heavily on that deflationary framing. Watch whether other large ETH holders adjust their messaging and whether BitMine continues accumulating at the same pace.