BitMine Chairman: Wall Street Is Buying Crypto Assets, ETH Could Rise to $15,000

Foresight News reports, citing CoinDesk, that Tom Lee, Chairman of Ethereum treasury company BitMine Immersion (BMNR) and co-founder of Fundstrat, stated in an interview with CoinDesk TV that although the market is rebounding, many investors still do not believe in the authenticity of this rally, which is precisely the key driver for further gains in crypto assets. Lee pointed out that since 2020, investors have repeatedly underestimated each market recovery, and he described the current rebound, which began in April, as "the most underestimated V-shaped reversal in history." He noted that traditional finance is "steadily and quietly" entering the crypto market, especially Ethereum, whose legal clarity and technical stability make it the preferred platform for Wall Street to advance tokenization.

BitMine currently holds 625,000 ETH, with total assets approaching $2.8 billion and almost no debt. Lee confirmed that the company is moving forward with a $1 billion share buyback plan, aiming to accumulate 5% of the ETH supply. At the same time, Lee predicts that the upcoming Fed rate cut cycle could push Bitcoin to $250,000. He believes that ETH is currently priced at $3,700, but based on network fundamentals, its fair value should be $15,000, emphasizing that "we are not at the top yet, we are just in the middle of the cycle."