Bitmine's Tom Lee Now Owns 4.8% of Ethereum's Total Supply. Is It Worth Buying ETH Now?

cryptonews.ruPublished on 2026-08-17Last updated on 2026-08-17

Abstract

Tom Lee, founder of Fundstrat Global Advisors and a staunch cryptocurrency bull, now serves as chairman of Bitmine. Under his guidance, Bitmine has evolved from a bitcoin miner into the world's largest corporate holder of Ethereum, owning 5.81 million ETH tokens (4.8% of the total supply) as of August 10, with a target of reaching 5%. Lee, who correctly advised buying Bitcoin in 2017, is similarly bullish on Ethereum. He began recommending ETH in late 2024 at around $3,400; despite its current price near $1,900, he predicts it could reach $22,000 in the coming years and $62,000-$250,000 long-term. His optimism stems from Ethereum's role as the leading smart contract blockchain. He expects growth from increased stablecoin issuance, tokenized real-world assets (RWA), and the need for AI agents to use neutral, secure blockchains like Ethereum for identity verification and machine-to-machine payments. With a market cap of $226 billion, Ethereum remains much smaller than Bitcoin's $1.26 trillion, suggesting significant room for growth once macroeconomic headwinds ease. While past success doesn't guarantee future results, and ETH is down nearly 60% over the past year, the article argues Ethereum has clearer long-term catalysts than many altcoins. These include growing dApp usage, AI integration, and the potential for approved spot ETFs to attract more investors. The conclusion suggests that while not buying as aggressively as Bitmine, accumulating the world's second-largest cryp...

Tom Lee, founder of Fundstrat Global Advisors and a staunch believer in cryptocurrency growth, served as chairman of the board last year. Under his guidance, Bitmine transformed from a bitcoin miner into the world's largest corporate holder of Ethereum.

As of August 10, Bitmine held 5.81 million Ether tokens, accounting for 4.8% of its total supply of 120.7 million tokens. The company also reaffirmed its goal to acquire 5% of the total Ether supply. Should investors follow Lee's example and buy more Ether, which has fallen nearly 60% over the past 12 months?

Why is Lee So Bullish on Ether?

Lee's endorsement of Ether carries significant weight, as he was one of the few analysts who advised investors to buy bitcoin in 2017 when its price was around $2,600. Bitcoin has since experienced several sharp fluctuations and is now trading at approximately $63,000.

Lee began recommending investors buy Ether in late 2024 when its price was around $3,400. Ether is now trading at around $1,900, but Lee insists that its price will rise to $22,000 in the next few years and reach $62,000–$250,000 in the long term.

Lee expects this growth to be fueled by several catalysts. As the largest developer-oriented blockchain for smart contracts and decentralized applications, Ethereum will grow as more stablecoins are issued and more tokenized real-world assets (RWAs) are stored on its network. As more artificial intelligence agents take on economic transactions, they will need to use public, neutral, and secure blockchains — such as Ethereum — for identity verification and machine-to-machine payments.

As Ether's value grows, its worth will increase, attracting more attention from institutional investors. With a market capitalization of $226 billion, Ethereum is still minuscule compared to Bitcoin, valued at $1.26 trillion. Currently, concerns about rising interest rates and other macroeconomic challenges are holding back Ether's growth, but it could skyrocket once these factors ease.

Should Investors Follow Lee's Lead?

Lee was right about bitcoin, but it has also experienced massive drawdowns over the past nine years. One shouldn't blindly assume Lee is right about Ether, as past performance never guarantees future returns.

Nevertheless, Ether has much clearer long-term catalysts than many other altcoins and is an attractive long-term investment based on the growing use of decentralized applications, AI agents, and tokenized assets.

Its spot price exchange-traded funds (ETFs), which were initially approved two years ago, could also attract more investors as the cryptocurrency market revives again. Therefore, while I wouldn't buy Ether as aggressively as Bitmine does, I would be willing to accumulate more of the world's second-largest cryptocurrency in this volatile market while the bulls are looking the other way.

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Related Questions

QWhat percentage of Ethereum's total supply does Bitmine currently own, and what is their acquisition goal according to the article?

AAccording to the article, Bitmine owns 4.8% of Ethereum's total supply, which equates to 5.81 million tokens. The company has also confirmed its goal of acquiring 5% of the total Ether supply.

QWhat was Tom Lee's price prediction for Ethereum, both in the near and long term?

ATom Lee predicts that Ethereum's price will rise to $22,000 in the coming years and between $62,000 and $250,000 in the long term.

QAccording to the article, what are the key catalysts expected to fuel Ethereum's growth?

AThe key catalysts include the growth of smart contracts and decentralized applications (dApps), the increased issuance of stablecoins, the tokenization of more Real World Assets (RWAs) on its network, and the future need for AI agents to use secure, public blockchains like Ethereum for identity verification and machine-to-machine payments.

QWhy does the article suggest caution about blindly following Tom Lee's optimism regarding Ethereum?

AThe article suggests caution because while Tom Lee was correct about Bitcoin's long-term growth, it also experienced massive volatility and drawdowns over nine years. Past performance does not guarantee future results.

QWhat is the article's concluding recommendation regarding investing in Ethereum?

AThe article concludes that while one should not be as aggressive as Bitmine, Ethereum is an attractive long-term investment based on its growth catalysts. It recommends accumulating more of the world's second-largest cryptocurrency on this volatile market while sentiment is low.

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