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- 🚀 ETH jumped to $4,600 this morning, up 8.69% in 24h!
Just shy of the $4,891 ATH—think it breaks through?
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Bitmine Chairman: According to fundamental analysis, the ETH price should be $15,000.
Deep Tide TechFlow news, on August 2, according to CoinDesk, Tom Lee, chairman of Ethereum treasury company BitMine Immersion (BMNR) and co-founder of Fundstrat, stated in an interview with CoinDesk TV that despite the market rebounding, many investors still do not believe in the authenticity of this round of market conditions, which is key to driving the further rise of crypto assets. Lee pointed out that since 2020, investors have repeatedly underestimated each market recovery, and he described the rebound that began in April as "the most underestimated V-shaped reversal in history." He noted that TradFi is "steadily and quietly" entering the crypto market, especially Ethereum, whose legal clarity and technological stability make it the preferred platform for Wall Street to promote tokenization. BitMine currently holds 625,000 ETH, with total assets nearing $2.8 billion and virtually no debt. Lee confirmed that the company is advancing a $1 billion stock buyback plan, aiming to accumulate 5% of the ETH supply. At the same time, Lee predicts that the upcoming Fed rate cut cycle may drive Bitcoin to $250,000. He believes that the current price of ETH is $3,700, but based on network fundamentals, its fair valuation should be $15,000, and emphasized that "we are not at the top yet, we are just in the middle of the cycle."