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Major ETH Purchase: BitMine, the Ethereum treasury firm chaired by Tom Lee, reportedly acquired $112 million (33,504 ETH) on Wednesday.
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Bullish Outlook: Chairman Tom Lee publicly stated that Ethereum's price has already bottomed and predicts a major market reversal in early 2026.
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Accumulation Goal: BitMine is aggressively pursuing its goal of holding 5% of the total Ethereum supply, currently holding over 3.86 million ETH.
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Macro Context: Lee's bullish prediction is based on the expectation of a new, more dovish Fed Chair and a key signal from the ISM Index rising above 50.
BitMine Accelerates Ethereum Accumulation
BitMine, the firm that holds the world's largest corporate Ethereum treasury, reportedly added $112 million worth of Ethereum (ETH) to its holdings on Wednesday. This purchase of 33,504 ETH was allegedly executed via the institutional broker FalconX. This transaction aligns with the company's consistent and aggressive pattern of buying ETH throughout the year. The firm's long-term goal is to accumulate 5% of the total circulating ether supply.
Chairman Tom Lee Calls the Market Bottom
Tom Lee, co-founder of Fundstrat and Chairman of BitMine, has maintained a highly bullish stance on Ethereum. He recently stated in a podcast appearance, "BitMine believes Ethereum's already bottomed," and noted that the amount of ETH the company is buying has doubled compared to just two weeks ago. Last month, Lee called Ethereum's bottom at $2,500 and predicted the price would surge into the $7,000 to $9,000 range by the end of January.
Macro Drivers for a 2026 Crypto Reversal
Lee's bullish prediction extends to the broader crypto market, which he expects to reverse in early 2026, even after a recent "hawkish cut" by the Federal Reserve caused a temporary dip in crypto prices. He cited two main drivers for this anticipated shift:
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The potential arrival of a new Fed Chair who adopts a more dovish (easier monetary policy) tone.
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The recent rise of the Institute for Supply Management (ISM) Index above 50, which signals expansion across U.S. sectors. Lee noted that crypto prices are highly sensitive to the ISM, and a move above 50 has historically been associated with super cycle moves in Bitcoin and Ethereum.
