🚨 BREAKING:
It’s starting to make a little more sense why Tom Lee’s BitMine is accumulating $ETH so aggressively.
They bought another 28,086 $ETH over the past week. Lee’s company now holds a total of 5.93 million ETH, while its combined crypto and cash holdings have reached $15.7 billion.
Lee’s long-term expectation is for Ethereum to reach $62,500 by 2030.
This isn’t a number pulled out of thin air. His scenario is based on the ETH/BTC ratio returning to historical levels and Bitcoin reaching $1 million.
What makes Tom Lee particularly interesting is that he has also been early on Bitcoin for years. Back in 2017, when he gave Bitcoin a $55,000 target, that figure seemed extremely ambitious.
His target is also based on BitMine reaching 5% of ETH’s total supply.
I think what’s worth watching here isn’t the number Tom Lee is predicting, but how aggressively he is backing that prediction with his own capital.
It’s starting to make a little more sense why Tom Lee’s BitMine is accumulating $ETH so aggressively.
They bought another 28,086 $ETH over the past week. Lee’s company now holds a total of 5.93 million ETH, while its combined crypto and cash holdings have reached $15.7 billion.
Lee’s long-term expectation is for Ethereum to reach $62,500 by 2030.
This isn’t a number pulled out of thin air. His scenario is based on the ETH/BTC ratio returning to historical levels and Bitcoin reaching $1 million.
What makes Tom Lee particularly interesting is that he has also been early on Bitcoin for years. Back in 2017, when he gave Bitcoin a $55,000 target, that figure seemed extremely ambitious.
His target is also based on BitMine reaching 5% of ETH’s total supply.
I think what’s worth watching here isn’t the number Tom Lee is predicting, but how aggressively he is backing that prediction with his own capital.