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BTC $62,586.06 +0.73%
ETH $1,643.42 -0.34%
BNB $598.24 +0.54%
XRP $1.11 -1.23%
SOL $65.43 +0.50%
TRX $0.3206 -0.60%
DOGE $0.0848 +0.32%
ADA $0.1661 +0.73%
BCH $199.30 -1.02%
LINK $7.74 -0.44%
HYPE $56.76 -1.30%
AAVE $63.42 +0.19%
SUI $0.7489 -0.89%
XLM $0.1852 -1.85%
ZEC $418.11 -3.97%

buy

Tom Lee: The sell-off of chip stocks is mainly related to the reallocation of funds before the SpaceX IPO, and the current pullback will have buying support

Tom Lee, Chairman of BitMine, the largest treasury in Ethereum, stated in an interview with CNBC that the current market is showing signs of tension, mainly due to the reallocation of funds ahead of the SpaceX IPO and the market digesting previous gains. The SpaceX IPO is expected to reach $75 billion and will be included in the Nasdaq 100 index, which means many institutional funds need to raise capital in advance, not only to participate in the IPO but also to reserve cash for establishing sufficient weighted positions in the secondary market after the listing. He believes this means institutions may sell some stocks that have recently risen significantly, putting pressure on chip stocks.Tom Lee believes that storage chip stocks and the semiconductor sector have still held their lows from last Friday, indicating that the relevant charts have not completely broken down. The current pullback is healthy and he does not believe it will disrupt the main trading line of tech stocks. The trading performance on the first day of SpaceX's listing is very important. If SpaceX performs poorly, it will provide evidence for those who believe the market has peaked. However, he stated that since many people already think the SpaceX IPO marks a peak, from a contrarian perspective, this may not be the peak.Tom Lee still believes that tech stocks will continue to lead the market upward and stated that the current pullback will be bought. He expects the market to still show a "three-phase" trend this year, with a strong upward trend continuing in the foreseeable future, but a pullback may occur later this year, potentially around the time the IPO lock-up period expires and related supply pressures arise. The subsequent second phase market pullback may be driven by three factors: the market's testing of the policy path of the new Federal Reserve Chairman Kevin Warsh, stock supply from the expiration of large IPO lock-up periods, and potential energy shortage pressures that may arise later this year.

Data: The weekly net purchases of BTC by listed companies surged over 9 times compared to the previous week, with Strategy supporting the buying pressure at low levels

According to SoSoValue data, as of 8 AM Eastern Time on June 8, 2026, the total net purchase of Bitcoin by publicly listed companies worldwide (excluding mining companies) for the week was $101 million, an increase of 925.38% compared to last week.Strategy (formerly MicroStrategy) spent approximately $100 million last week to purchase 1,550 Bitcoins at a price of $65,332, increasing its total holdings to 845,256 Bitcoins.The Japanese listed company Metaplanet did not purchase any Bitcoin last week.In addition, another company purchased Bitcoin last week. Asset management company Strive announced it spent $2.05 million from June 1 to June 7 to buy 32 Bitcoins at a price of $63,911, bringing its total holdings to 19,032 Bitcoins.Capital B announced that online voting for the shareholder meeting on June 17 is now open, which will authorize the board to establish a capital increase limit of up to €5 billion in nominal amount and a debt instrument issuance limit of up to €100 billion in nominal amount for the purpose of purchasing Bitcoin. Ethereum holder BitMine announced it will replicate MicroStrategy's financing model, planning to raise funds by issuing Series A perpetual preferred shares (code BMNP) on the New York Stock Exchange with a maximum of $300 million, an annual dividend yield of 9.5%, and weekly dividends.As of the time of publication, the total amount of Bitcoin held by the globally listed companies (excluding mining companies) in the statistics is 1,115,732 Bitcoins, an increase of 0.14% compared to last week, with a current market value of approximately $70.3 billion, accounting for 5.6% of Bitcoin's circulating market value.
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