Thomas Lee Buys $1 Billion in Ethereum – “Saylor of ETH” or the Real Savior?
As Ethereum is regaining its glory amid increasingly fierce criticism and competition, a name has unexpectedly emerged as a powerful catalyst for the recovery: Thomas Lee. This veteran financial analyst has just shaken the entire cryptocurrency market when in just 7 days, he and his company BitMine bought $1 billion worth of ETH, equivalent to a plan to own 5% of the entire ETH supply.
Investors are now asking: Can Thomas Lee do to Ethereum what Michael Saylor did to Bitcoin?
From Wall Street to the cryptocurrency exchange: Thomas Lee “plays big” with ETH
Thomas Lee is no stranger to the financial world. Fundstrat co-founder, former analyst at JPMorgan, and a familiar face on CNBC Lee has long been known for his bold predictions, especially in the cryptocurrency field.
Last month, he officially joined BitMine Immersion Technologies (ticker: BMNR), a Nasdaq-listed Bitcoin mining company, as Chairman. Lee’s arrival came with a major turning point: BitMine shifted its strategy to Ethereum, establishing an ETH treasury of unprecedented scale.
Just days after Lee took over, BMNR shares skyrocketed from $4 to over $48, and peaked at $160 on July 3, reflecting investor confidence in this new vision.
$1 billion ETH The start of the world’s second-largest “Ethereum treasury”?
BitMine has made no secret of its ambitions: the goal is to buy 6 million ETH, equivalent to 5% of the total network supply, second only to Lido, the largest ETH staking platform currently holding over 9 million ETH.
Lee bluntly compared this strategy to Michael Saylor’s MicroStrategy, which has turned itself into the world’s largest Bitcoin treasury. But instead of following the crowd, Lee is betting big on ETH, arguing that it is “the backbone of the new digital economy.”
Why Ethereum, not Bitcoin?
According to Lee, Ethereum is the optimal platform for stablecoins, asset tokenization, and decentralized finance (DeFi) applications. In a June 30 interview with CNBC, he said:
“When big banks like Goldman or JPMorgan issue stablecoins, they will need to stake ETH to ensure safety. We are getting ahead of that by building an Ethereum treasury.”
He also likened the rise of stablecoins to a “ChatGPT moment” in the cryptocurrency sector, a turning point that will change the entire industry.
With Circle’s upcoming IPO and the US enactment of the GENIUS Act, Lee believes that stablecoins will explode, and with it, demand for ETH will skyrocket. He even predicts that stablecoins will become the world’s largest holders of US Treasury bonds, helping to solidify the USD’s position in the digital age.
BitMine attracts strong capital: Wall Street’s “Ethereum play”?
Lee is not alone in his move. A series of big names have poured money into BitMine to benefit from this “Ethereum play”:
MOZAYYX
Pantera Capital
FalconX
Kraken
At the same time, the flow of money into Ethereum ETFs has also skyrocketed, showing that interest is spreading.
In particular, tech billionaire Peter Thiel, co-founder of Palantir and PayPal, currently owns 9% of BitMine shares, a sign that Lee’s vision has received significant support from tech tycoons.
Ethereum: Real Resurgence or Just a Flash Sale?
Of course, the Ethereum recovery cannot be attributed to Lee alone, just as Bitcoin’s breakout cannot be attributed to Saylor alone. But it is clear that his decisive actions have created a new wave of confidence in ETH at a time when the project is facing criticism from the community, competitive pressure from Solana, and doubts about the network’s scalability.
Conclusion: Thomas Lee “Saylor of Ethereum” or a risky move?
With his reputation on Wall Street, Thomas Lee is betting on Ethereum as an infrastructure pillar of the future of digital finance. Whether this move will be a game-changer remains to be seen, but one thing is clear: his confidence is resonating across the market.
