Crypto Bull Market? Tom Lee Says the Cycle Has Turned
Tom Lee, chairman of Bitmine, says he believes the crypto bull market is already underway, beginning in late June. He points to capital rotating from AI stocks toward crypto, stronger fundamentals around tokenization and AI, and the completion of the traditional four-year crypto cycle as key drivers.
At the same time, Bitmine continues aggressively building its Ethereum treasury. The company added another 27,562 ETH, worth roughly $75 million, bringing its holdings to 5,983,940 ETH—about 4.9% of Ethereum's circulating supply.
Bitmine also reports 5.07 million ETH staked, representing about 85% of its holdings. Its stated goal of controlling 5% of ETH supply is now 98% complete.
Lee expects institutional crypto exposure to increase during Q4, while noting that ETH has significantly outperformed other major macro assets during Q3.
The interesting question now isn't simply whether crypto has entered a new phase—it is how sustained institutional demand and Ethereum's growing treasury ecosystem develop through the final quarter of 2026.
$BR
$LAB
Tom Lee, chairman of Bitmine, says he believes the crypto bull market is already underway, beginning in late June. He points to capital rotating from AI stocks toward crypto, stronger fundamentals around tokenization and AI, and the completion of the traditional four-year crypto cycle as key drivers.
At the same time, Bitmine continues aggressively building its Ethereum treasury. The company added another 27,562 ETH, worth roughly $75 million, bringing its holdings to 5,983,940 ETH—about 4.9% of Ethereum's circulating supply.
Bitmine also reports 5.07 million ETH staked, representing about 85% of its holdings. Its stated goal of controlling 5% of ETH supply is now 98% complete.
Lee expects institutional crypto exposure to increase during Q4, while noting that ETH has significantly outperformed other major macro assets during Q3.
The interesting question now isn't simply whether crypto has entered a new phase—it is how sustained institutional demand and Ethereum's growing treasury ecosystem develop through the final quarter of 2026.
$BR
$LAB
