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- 🚀 ETH jumped to $4,600 this morning, up 8.69% in 24h!
Just shy of the $4,891 ATH—think it breaks through?
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Tom Lee: Wall Street is "quietly" buying Ethereum, and it will rise to $15,000 in the future.
On August 2, BitMine's newly appointed chairman Lee stated that Financial Institutions are increasingly buying Crypto Assets - steadily and quietly. He mentioned that Ethereum's native coin ETH is benefiting from the tokenization driven by Wall Street, due to its advantages in legal clarity and technical reliability. "Ethereum has never gone down. This is important for banks," he said. BitMine currently holds 625,000 ETH, with total assets approaching $2.8 billion and virtually no liabilities. Lee also confirmed a $1 billion stock buyback plan and reiterated the company's goal of "hoping to accumulate 5% of the total supply of Ethereum." Regarding Bitcoin, the current price is $113,576.36, which is also becoming a target for institutional investors to buy regularly. Lee believes that if the Fed's monetary policy shifts - especially if interest rate cuts begin in the coming months - Bitcoin could soar to $250,000. Lee stated that based on the fundamental valuation of the Ethereum network, he believes the reasonable price for ETH is $15,000, while the current price is $3,700. He insists that the true story of institutional adoption is being severely underestimated.