Schiff's Ether Doom Call Slams Into Thiel And Lee's BitMine Bets

Group 1 - Ethereum (ETH) has lost nearly 40% from its August highs, erasing all its gains for 2025, leading to predictions of a potential crash below $3,000 [2][6] - Bitmine Immersion Technologies Inc. has been accumulating ETH reserves, positioning itself as one of the largest Ethereum holders among public miners, indicating long-term conviction rather than capitulation [2][3] - The company is backed by prominent investors, including Peter Thiel's Founders Fund, which holds a 9.1% stake, and Cathie Wood's ARK Invest, which initially purchased 4.8 million shares worth $182 million [3][4] Group 2 - Tom Lee, a veteran Wall Street strategist and chairman of Bitmine, is known for his bullish views on Ethereum, suggesting confidence in ETH's future despite current price challenges [5] - The contrasting perspectives between Peter Schiff's bearish outlook on Ether and Bitmine's bullish stance highlight a significant divergence in market sentiment, with one side favoring gold and the other favoring Ether [6]