BitMine buys $44 million worth of Ethereum as Tom Lee gives bullish outlook
Quick Take BitMine purchased 14,618 ETH on Thursday, according to data from Arkham Intelligence. BitMine Chair Tom Lee said Ethereum could possibly trade between $7,000 and $9,000 by the end of January 2026.
Tom Lee's BitMine Immersion Technologies added 14,618 ETH to its corporate Ethereum treasury on Thursday.
Lookonchain, using Arkham data, reported that BitMine acquired $44.34 million worth of ETH through wallet "0xbd0…E75B8" from BitGo at around 5:07 p.m. yesterday. However, this transaction has not been officially confirmed by BitMine.
This transaction comes a few days after the world's largest ETH treasury firm announced buying $200 million worth of the cryptocurrency to its stash. As of its last official announcement, BitMine holds 3,629,701 ETH worth about $10.9 billion. Its holdings represent around 3% of total Ethereum supply.
The company has repeatedly stated its goal of accumulating 5% of the total supply and expressed its commitment to supporting Ethereum's growing role in financial market services. BitMine Chair Tom Lee has endorsed Ethereum on multiple occasions, saying Wall Street players and the White House will favor Ethereum in their future blockchain endeavors as it is a "truly neutral chain."
ETH to $9,000
Meanwhile, bitcoin, ether and most other cryptocurrencies have been experiencing a significant downturn in recent weeks. However, in a recent podcast interview , Lee predicted that ETH would bottom near $2,500 and then rise toward $7,000 to $9,000 by the end of January 2026.
Lee also said in a recent CNBC interview that he expects the Federal Reserve to turn dovish by the year-end, and relieve pressure from the market by providing macroeconomic clarity for traders. He gave a prediction that bitcoin may surge above $100,000 by the year-end or even to a new high.
According to The Block's price page , bitcoin is trading at $91,309, up 0.13% in the past day, while ether is down 0.69% at $3,018.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Markets Brace for a Volatile Week as U.S. Data Drops: 5 Altcoins That Could Rally if Momentum Returns
ECB Presidential Contest Centers on Crisis Management: French Debt Risk Becomes the Touchstone
The competition for the position of President of the European Central Bank is increasingly centered on a key question: which candidate is best equipped to deal with the "vigilantes" of the bond market? As France's debt issues revive memories of turmoil in the Eurozone and the current president, Christine Lagarde, prepares to step down early, Dutchman Klaas Knot and Spaniard Pablo Hernández de Cos may soon take over amid financial turbulence.
Peter Schiff’s ‘$75K Bitcoin call’ meets a vital week: Fed, inflation, and ETF outflows loom
Deutsche Bank, which "accurately called the top" two weeks ago: Tech stocks need to "fall another 5%" to reach the "long-term trend bottom"
After Deutsche Bank downgraded its rating on US tech and large-cap growth stocks two weeks ago, tech stocks have underperformed the rest of the S&P 500 components by 12 percentage points. However, Deutsche Bank noted that tech stocks still have about 5 percentage points of downside before reaching the bottom of their long-term trend channel. Institutional positions have been quickly cooling, and signs of outflows from the $30 billion bottom-fishing funds are beginning to appear. Going forward, earnings performance, capital flows, and external risks will determine whether the adjustment stops at structural rotation.
Crypto prices
More
