BitMine’s chairman suggests increasing authorized shares by 1,000 times to 50 billion

Tom Lee proposes raising BitMine’s authorized shares from 50 million to 50 billion to prepare for future stock splits due to Ether’s price appreciation. He believes this may keep shares more accessible for investors.

Lee expects Ether to potentially hit 250,000 USD if Bitcoin reaches 1 million USD, which would make BitMine shares valued highly. However, social media feedback has been largely negative, with fears of share dilution.