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Ethereum Tipped to Soar 100x, Potentially Surpassing Bitcoin
6 Aug
Summary
- Ethereum could deliver 100x returns, flipping Bitcoin's market cap
- Bitmine Immersion Techs has acquired $3 billion in ETH in just 27 days
- Ethereum becoming the blockchain of choice for traditional finance
According to a recent appearance on the Bankless podcast, Tom Lee of Bitmine Immersion Techs (AMEX:BMNR) believes Ethereum is on the cusp of a major breakout. Lee predicts Ethereum could deliver a 100x return and potentially flip Bitcoin's market cap, driven by accelerating Wall Street adoption and Ethereum's central role in blockchain infrastructure.
In just 27 days, Bitmine Immersion Techs has already acquired 833,000 ETH, worth $3 billion, which is 12 times faster than the firm's previous Bitcoin accumulation pace. Lee sees Ethereum's current moment as its "2017 Bitcoin moment", where institutional investors are just beginning to enter the market.
Ethereum is becoming the legally compliant, yield-generating blockchain favored by traditional finance, with projects like USDC, Coinbase's Base, and Robinhood's L2 being built on the Ethereum network. Bitmine Immersion Techs aims to accumulate 5% of the total ETH supply, benefiting from both asset appreciation and staking yield.
Lee's bullish case for Ethereum sees the cryptocurrency reaching $7,000-$15,000 by the end of 2025, with a non-trivial chance of overtaking Bitcoin in network value. He downplays bubble risks, citing persistent bearish sentiment and lack of leverage, and urges investors to focus on ETH per share, velocity, and scarcity metrics over complex valuations.
