The World's Biggest Ethereum Treasury Company Just Bought the Dip on Ethereum. Should You?

Bitmine Immersion Technologies (NYSE: BMNR), the largest corporate holder of Ethereum (CRYPTO: ETH), announced on June 8 that it had bought 126,971 ETH for roughly $214 million, its biggest weekly purchase of 2026. In doing so, it showed confidence in the asset by buying the dip, as Ethereum was trading near $1,816 as of June 15, down 63% from its August 2025 all-time high of $4,946.

That kind of conviction is probably enough to tempt some investors to buy the coin and go along for the ride. But is it really a good financial decision to follow Bitmine's move here?

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It's not a terrible time to be thinking about buying

As Warren Buffett said, it pays to "be fearful when others are greedy and to be greedy only when others are fearful." On that note, with Ethereum, its present drawdown is severe, and investor sentiment is in a state of extreme fear and pessimism about the asset's future.

And yet the network hasn't collapsed. By some measures, it's already advancing into the growth segments of tomorrow.

Ethereum still hosts about 53% of all tokenized real-world asset (RWA) value in the crypto sector, a category that grew from $11.6 billion in mid-June 2025 to $31.8 billion today. It also holds $156.7 billion in stablecoin value, or 49.5% of the sector's total stablecoin value of $315.1 billion. Plus, the Glamsterdam upgrade, due in the second half of this year, could lift the chain's throughput and somewhat revive its fee revenue by attracting even more tokenized asset and stablecoin value.

Bitmine's bet shouldn't be your investment thesis

Bitmine owns 4.6% of Ethereum's outstanding supply. But Ethereum has no supply cap, and its supply is actually expanding at a near-0.2% rate per year, though it could expand faster or even contract, depending on circumstances. More activity on the chain biases its supply toward deflation rather than inflation, so Bitmine is betting that activity will pick up sufficiently to avoid diluting its holdings.

Furthermore, Bitmine has its own reasons to keep buying this coin: It wants to own 5% of the circulating supply and has a fresh capital raise to deploy. None of those reasons make sense for an individual investor to add to their investment thesis.

For an investor with a multiyear horizon and a balanced crypto portfolio already in place, the balance of risk-to-reward at the coin's current rock-bottom sentiment is plausibly quite favorable. But for anyone without patience, there is a high likelihood of this asset experiencing another stumble or two, even if it starts to recover.

So don't buy Ethereum just because Bitmine bought it. If you're going to buy the dip at all, do it because you believe that the investment thesis for the asset is going to win out in the long term over all of the negativity (and volatility) that it's experiencing over the short term.

Alex Carchidi has positions in Ethereum. The Motley Fool has positions in and recommends Ethereum. The Motley Fool has a disclosure policy.