Making optimistic statements about the future of Ethereum, Bitmine Director Tom Lee announced that his company’s strategic goal is to acquire 5% of the total ETH supply.
In an interview with Bankless, Lee stated that Ethereum is one of the biggest macro investment opportunities of the next decade.
Lee argued that the Ethereum price is still at low levels and its potential is higher than Bitcoin, saying, “Bitcoin traded sideways for most of 2017, but exploded at the end of the year. Ethereum is at a similar point right now.”
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Lee, who said that the company is aggressively purchasing ETH at around $3,500, predicted that the price could reach at least $4,000 in the short term and the $7,000-$15,000 range by the end of the year.
Lee highlighted Bitmine’s strong balance sheet and high liquidity, noting that they have a daily trading volume of $1.6 billion, which directly accelerates growth in the sector. He emphasized that Ethereum reserve strategies are not just an alternative to ETFs but a critical infrastructure for the ecosystem, adding that additional income can be generated through staking revenues and other methods.
*This is not investment advice.
