Ethereum’s latest price correction has created a rare entry point for long-term investors, according to BitMine chairman Tom Lee, who believes the digital asset is entering what he calls a “supercycle.”
Ethereum Enters a Potential Supercycle
Speaking after BitMine’s latest Ether purchase, Lee highlighted that Ethereum’s open interest levels mirror those from June, when the token traded at just $2,500. “Given the expected supercycle for Ethereum, this price dislocation represents an attractive risk/reward opportunity,” Lee said in a company statement on Monday.
Blockchain analytics platform Arkham Intelligence confirmed that BitMine purchased $250 million worth of Ether from exchanges Bitgo and Kraken earlier this week. The acquisition brought the firm’s total holdings to over 3.3 million ETH, valued at more than $13 billion, representing 2.74% of Ethereum’s total supply.
BitMine Targets 5% of Ether Supply
BitMine’s long-term strategy aims to accumulate 5% of Ether’s total supply, positioning the firm as the dominant institutional holder of ETH. “We view Ethereum as a cornerstone of the next financial system,” Lee stated on the Bankless podcast, reaffirming his $10,000 price target for ETH by year-end — a projection that would require a 150% price surge from current levels.
Industry analyst Carla Mendoza commented that “institutional buyers see Ethereum’s weakness as a liquidity-driven dislocation, not a structural decline. The fundamentals still point upward.”
BitMine Stock Surges as Investor Confidence Grows
Following the announcement, BitMine’s stock (BMNR) jumped 7.9% to $53.80 on Monday, marking a 691% increase over the past six months. Lee attributed the surge to rising institutional interest, noting that BitMine and Strategy (MSTR) now account for 88% of all global digital asset trading volume among publicly traded crypto firms.
BitMine remains the world’s largest corporate holder of Ether, with the next-largest treasury—SharpLink Gaming—holding just 840,012 ETH.
Lee’s conviction signals growing institutional confidence in Ethereum’s long-term value, even amid short-term volatility.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.