BitMine Buys $130M ETH, Eyes $62K

• The Call: Fundstrat’s Tom Lee declares the crypto correction over, forecasting a resumption of the bull run with Bitcoin targeting $250,000.
• The Trade: Lee’s firm, BitMine Immersion, purchased 41,946 ETH ($130M), cementing its status as the world’s largest Ethereum treasury.
• The Logic: Lee argues “aggressive deleveraging” has washed out sellers, positioning ETH for a re-rating to $62k as the “future of finance.”

Tom Lee, the Wall Street strategist turned crypto bull, issued a definitive “all-clear” signal for digital assets this week, asserting that the bruising market correction has found its floor. 

Speaking at Binance Blockchain Week in Dubai, shared by Binance, Lee explained why he believes crypto has already passed its most painful stretch. According to him, the market pullback that began in October created exaggerated pessimism, with many investors preparing to capitulate. 

Related: Tom Lee Predicts Ethereum Could Hit $9K by January 2026 as Tokenization Super Cycle Begins

Lee argued that the recent market weakness was largely due to aggressive deleveraging rather than a structural breakdown. He pointed out that similar pullbacks have been resolved in six to eight weeks in previous instances. 

Deleveraging Phase is ‘Complete’

Lee noted that the market crashed amid quantum threats, liquidation spikes, and concerns around institutions like Tether and MicroStrategy. However, market makers appear to have recovered and soon, investors can expect crypto to resume the bullish cycle. 

For Lee, Bitcoin’s four-year cycles don’t exist anymore and his team now expects new highs early next year. 

On the other hand, he expects Ethereum to push higher with tokenization booming on the chain. Major institutions like JPMorgan, BlackRock, and others are now building directly on Ethereum. 

The BitMine executive predicted Bitcoin at $250,000 within months. If Ethereum simply returns to its historical average ratio relative to Bitcoin, its price would reach roughly $12,000, Lee said. 

Meanwhile, a return to its 2021 ratio could place ETH near $22,000. But Lee’s most ambitious target assumes Ethereum grows into the main financial settlement layer, pushing the ETH/BTC ratio toward 0.25, pricing ETH near $62,000.

Future of Finance

Lee called Ethereum the “future of finance,” adding that institutions see the blockchain as the primary infrastructure for everything from payments to real-world asset (RWA) on‑chain settlements. 

Additionally, BitMine, which Lee represents as chairman, is massively accumulating ETH, turning into an Ethereum treasury company. It now holds more than $12 billion worth of Ether.

As reported earlier today by Lookonchain, the company bought 41,946 ETH ($130.78 million) with the cryptocurrency trading at $3,100, up almost 5% in the past week.

Related:  Market Maker Strain Blamed for Crypto Slide as Tom Lee Flags Structural Pressure