BitMine’s Tom Lee: ETH Is in the Final Stages of a Mini Crypto Winter

BitMine chairman Tom Lee suggests Ethereum (ETH) is in the “final stages” of a mini-crypto winter, evidenced by the company’s increased ETH acquisition – 65,341 ETH in the past week compared to a previous average of 45k-50k. ETH has rallied 18% since the beginning of the Iran war, outperforming equities by 2,450 basis points while gold, a traditional safe haven, declined by over 15%. Lee argues this demonstrates crypto’s potential as a wartime store of value. He also points to the advancing Clarity Act in Congress, with prediction markets giving it a greater than 68% chance of passage, as a positive catalyst. BitMine holds 4.66 million ETH, representing 3.86% of the total supply, alongside other crypto assets and $1.1 billion in cash, totaling $11 billion in holdings. ETH traded at $2,138 at the time of writing, up 3.6% in 24 hours. However, the sustainability of the rally depends on the evolving geopolitical situation.

(Source：BeInCrypto)