Bitmine Ethereum Holdings Surpass 4M — Can ETH Price Surge to Tom Lee’s $62,000 Prediction?

Core Insights - Bitmine has become the largest corporate holder of Ethereum, increasing its holdings to over 4 million tokens, valued at more than $12 billion [1][2][3] - Tom Lee, chairman of Bitmine, maintains a bullish outlook on Ethereum, predicting a potential price surge to $62,000 [2][6][7] Group 1: Bitmine's Ethereum Accumulation - Bitmine's latest purchase on December 22 involved acquiring 13,412 ETH for approximately $40.6 million, contributing to a total of 98,852 ETH added in the past week [2][3] - The average acquisition price for the tokens was $2,991 per ether, with total holdings now at 4,066,062 ETH [3][7] - The company aims to accumulate 5% of the total Ethereum supply, indicating a strategic long-term investment approach [4][8] Group 2: Tom Lee's Price Predictions - Lee asserts that Ethereum is currently "grossly undervalued" at $3,000 and compares its current market moment to the end of the gold standard for the U.S. dollar [5] - He suggests that if Ethereum returns to its long-term average valuation relative to Bitcoin, it could reach approximately $12,000 [5] - In a more optimistic scenario, a trading ratio of 0.25 relative to Bitcoin could see Ethereum's price near $62,000 [6]