Jiang Zhuoer Bets Big on Ethereum, Predicts ETH Will Outperform BTC This Cycle

Jiang Zhuoer, founder of Chinese mining pool BTC.TOP, has dramatically changed his stance on the crypto market. He now plans to move his remaining capital into Ethereum, predicting that ETH will outperform Bitcoin this cycle.

Earlier, Jiang sold his ETH holdings between $1,738 and $1,931 and opened short positions to hedge against further downside. However, when Ethereum surged past $2,000 and kept climbing, those shorts lost money. He closed the positions and repurchased ETH near $2,100, later selling roughly half his spot holdings near $2,525.

Jiang is now roughly 90% confident that the crypto bear market has ended and holds 20% to 30% of his intended capital in USDT reserves, waiting for the right entry point to redeploy the rest. He points to growing US government support for blockchain and accelerating tokenization of stocks and bonds as catalysts favoring smart-contract platforms like Ethereum.

BitMine's Tom Lee has voiced a similar view, citing the ETH/BTC ratio breaking above a multi-year downtrend alongside tokenization tailwinds and rising demand from agentic AI applications running on Ethereum's network. As of August 23, Bitcoin trades near $77,050, up roughly 22% for the week from levels near $63,000, while Ethereum has moved even faster, climbing approximately 30% over the same period.