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Tom Lee Sees Ethereum Above $10,000 Within 12 Months
Ethereum could climb well beyond $10,000 as treasury companies continue buying more $ETH , according to BitMine chairman Tom Lee!
Lee says these companies already control around 7% of Ethereum's supply and expects that share to reach 15% during this bull cycle.
Here's why he thinks ETH could move higher:
• Growing Demand: Treasury firms are buying and holding ETH, potentially reducing the amount available on the market.
• BitMine's Holdings: Lee says BitMine now owns over 6 million ETH, close to 5% of the total supply, after 15 months of buying.
• Institutional Money: Lee believes many large investors are still underexposed to crypto, leaving room for more capital to enter Ethereum.
While $BTC remains the biggest crypto asset, Lee sees Ethereum benefiting from treasury demand and growing institutional interest in tokenization.