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Tom Lee’s $5 Billion Ethereum Bet Puts Bitcoin Maximalists on Notice

By Surbhi Jain, Benzinga & others reported today:

BitMine Immersion Technologies, under the leadership of Tom Lee (co-founder of Fundstrat and chairman of BitMine), has amassed approximately 1.174 million ETH—equivalent to $5.26 billion—in its corporate treasury, making it the third-largest public crypto treasury globally .

This strategic pivot away from traditional Bitcoin mining highlights Ethereum’s growing appeal, emphasizing its utility in staking, smart contracts, and scalability—a strong value proposition compared to Bitcoin’s “digital gold” narrative .

Institutional confidence in Ethereum is further underscored by a staggering $2.85 billion in spot ETF inflows over a single week, now holding 5.34% of Ethereum’s market cap, significantly higher relative to Bitcoin ETFs .

Prominent investor Peter Thiel, through his Founders Fund, has taken a 9.1% stake in BitMine, resulting in a 20–30% surge in the company’s stock and reinforcing institutional bullishness toward Ethereum treasuries .

Why This Matters

Institutional Momentum Builds

Tom Lee’s bold Ethereum treasury positions BitMine as a rising institutional force. Its aggressive accumulation strategy, including purchases during recent market dips, signals long-term confidence in ETH's fundamentals and utility .

Bitcoin Dominance Under Scrutiny

This shift highlights Ethereum’s unique strengths—beyond just being a store of value—against the backdrop of Bitcoin maximalism. Lee’s move is a direct challenge to the notion that BTC should anchor the digital asset universe .

Technical Indicators Support Upside

Bullish technical patterns including a falling wedge and strong support near the 20-day EMA suggest potential upside targets in the $4,750–$8,000 range for ETH. Leveraged whale positions add to the momentum

Metric Insight

Ethereum Treasury BitMine holds $5.26B), with aggressive accumulation underway .

ETF Flows Record $2.85B weekly inflows; Ethereum ETFs represent 5.34% of ETH market cap .