Bitmine's Tom Lee Leads Charge as Company Snaps Up Nearly 5% of Ethereum Supply

Tom Lee, the founder of Fundstrat Global Advisors and a well-known crypto bull, has been investing in Ethereum through Bitmine (NYSE: BMNR), where he serves as chairman. As part of this effort, Bitmine has become the world's largest corporate holder of Ethereum, with 5.81 million Ether tokens representing 4.8% of its total supply of 120.7 million tokens.

Lee's support for Ethereum is significant because he correctly predicted Bitcoin's surge in 2017 and advised investors to buy it at $2,600. He began recommending Ethereum purchases in late 2024 when the price was around $3,400, and now believes it will reach $22,000 within a few years and $62,000-$250,000 over the long term.

The catalysts for this potential growth include the increasing adoption of decentralized apps, AI agents using public blockchains like Ethereum, and the expansion of tokenized real-world assets on its network. As more stablecoins are minted and stored on Ethereum, Lee expects institutional investors to take notice and drive up the price.