Bitmine Chairman Tom Lee's recent remarks are quite thought-provoking. I've pondered over them and feel there is a significant amount of information. This Wall Street veteran clearly stated that traditional financial institutions are accelerating their entry into the cryptocurrency market, and interestingly, Ethereum has become the top choice for large institutions due to its relatively stable technology and clearer legal environment. This aligns well with my previous observations — indeed, I have seen a considerable amount of institutional-level ETH buying in recent months.

Lee mentioned a rather professional term, stating that the market is currently in a 'mid-cycle' phase. I interpret his meaning as suggesting that this market trend is neither just beginning nor nearing its end; it is in a middle development stage. He believes that the continuous buying of BTC and ETH by institutions is the main reason driving the price increase. I partially agree with this viewpoint, but I also think that retail FOMO (Fear of Missing Out) sentiment is starting to rise, and these two forces are forming a synergy.

The most explosive part is his price prediction — he stated that if the Federal Reserve really does cut interest rates in the coming months, Bitcoin could soar to $250,000, and Ethereum could even reach $15,000. This figure sounds a bit alarming, but considering Bitmine currently holds 625,000 ETH (worth nearly $2.8 billion) and they plan to continue buying, aiming to hold 5% of the entire ETH supply, it seems they are genuinely betting real money on this prediction.

5% of the ETH supply is nearly 6 million coins! At the current price, that amounts to about $27 billion, which is quite an ambitious goal. I wonder how long it will take for them to achieve this target, but it at least indicates that institutions are indeed optimistic about Ethereum. What do you think, is Lee's prediction reliable?