Tom Lee's prediction that will excite Ethereum investors

Recently, Tom Lee, a well-known figure on Wall Street who has been in the news for his billion-dollar ETH purchases through BitMine, suggested that after Ethereum's price broke its record, a much larger rise movement could be seen.

Lee, in his evaluation of the issue, stated, "The fact that ETH exceeds its ATH level, based on past data, will mark the beginning of a much larger rise movement. There is a saying in the markets, 'The wider the base, the greater the breakout.' This is indeed a quite wide base."

Lee is referring to the expression of a wide base, indicating that ETH has experienced a prolonged period of consolidation/accumulation before setting a new record. This means that Ethereum has gathered more energy, and therefore the breakout could be larger and the rise more sustainable.

ETH rose to as high as 4,887 dollars yesterday, surpassing the level of 4,868 dollars. Thus, the cryptocurrency broke its record from 2021. Today, in the evening hours, ETH is finding buyers at 4,750 dollars.

BitMine, which is chaired by Lee and listed on the New York Stock Exchange, has been accumulating ETH since the end of June. The company has purchased over 1.6 million ETH in about 2 months. At current prices, this amount corresponds to 7 billion 600 million dollars. With its purchases so far, BitMine has reached 1.33% of the total ETH supply. The company stated its goal as "continuing to purchase ETH until reaching a rate of 5%."

Published: August 23, 2025 20:53