Bitmine

Analyst Tom Lee, Chairman of BitMine, believes Ethereum has reached its price bottom for the year. He cites ongoing accumulation by his firm and strong long-term fundamentals like DeFi and AI growth as reasons for optimism, despite current market volatility.

Despite a bearish market and significant outflows, Tom Lee’s BitMine has purchased 138,452 ETH worth €364 million in a single week. The move, alongside similar bullish bets from crypto whales, signals strong confidence from major players in Ethereum’s long-term prospects.

At the Binance Blockchain Week, analyst Tom Lee forecasted Ethereum could surge to $20,000 in 2026, with Bitcoin potentially reaching $300,000. He believes the four-year crypto cycle is over and that Ethereum’s growth will be driven by tokenization.

Despite a significant price drop, Fundstrat’s Tom Lee predicts Bitcoin will hit a new all-time high by the end of January. He cites a recovering stock market and a potentially less aggressive Fed as key drivers, while his firm, Bitmine, continues to aggressively accumulate Ethereum.

Bitmine Immersion Technologies, led by CEO Tom Lee, has purchased another $44.34 million worth of Ethereum, bringing its total holdings to about 3% of all ETH. The company plans to accumulate until it controls 5% of the supply, with Lee predicting the price will surge to $7,000-$9,000 in the coming months.

BitMine Immersion Technologies has purchased an additional €170 million worth of Ethereum, solidifying its position as the largest corporate holder with 3% of the total supply. While the price saw a short-term bump, analysts remain divided on ETH’s near-term trajectory.