BlockBeats news, on August 8, Tom Lee, the newly appointed chairman of the US-listed company BitMine, recently stated that Ethereum (ETH) is at a critical moment similar to Bitcoin in 2017. As Wall Street's attention to cryptocurrencies gradually increases, Lee believes that Ethereum is becoming the core platform in the financial market's 'tokenization' process, and he expects this to be one of the biggest macro trading events in the next decade. Lee specifically mentioned that Ethereum should not be compared with Bitcoin but rather with traditional financial markets. If he had to choose between Bitcoin and Ethereum, he would prefer ETH. On August 2, BitMine Chairman Lee pointed out that traditional financial institutions are steadily and quietly increasing their holdings of cryptocurrencies, especially Ethereum, thanks to its legal clarity and technological reliability, and that Ethereum has never experienced a crash, which is crucial for institutions like banks. Currently, BitMine holds 625,000 ETH, with total assets nearing $2.8 billion and almost no liabilities. At the same time, the company announced a $1 billion stock buyback plan and reiterated its goal of holding 5% of the total supply of Ethereum. Lee also stated that if the Federal Reserve's monetary policy changes, especially in the case of interest rate cuts, Bitcoin could potentially soar to $250,000. Based on the fundamentals of Ethereum, he believes that the reasonable price for ETH should be $15,000, while the current price is around $3,700. For cryptocurrency investors, the BiyaPay platform offers users a seamless trading experience. The platform supports the mutual exchange of over 200 cryptocurrencies, including BTC and ETH, and offers zero fees for spot and contract orders, allowing users to enjoy low-cost advantages during trading.

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