Tom Lee, chairman of BitMine Immersion Technologies, told Korea Blockchain Week 2026 that crypto is entering what he called the biggest bull cycle ever.
His comments came alongside fresh Ethereum purchases that pushed BitMine closer to a bold ownership target.
What Is Driving Tom Lee’s Bull Market Call?
A bull cycle describes a sustained period of rising prices driven by strong demand and investor confidence. Lee pointed to Bitcoin trading above its 200-day moving average, a signal that has preceded eight of the past nine bull markets over 12 years. He also cited steady institutional inflows into Bitcoin products throughout September.
“I believe this crypto cycle will be the biggest ever,” Tom Lee said.
Major banks like BlackRock and JPMorgan Chase are now tokenizing assets, adding further legitimacy to the sector. That trend suggests traditional finance is treating blockchain infrastructure as permanent, not experimental.
Lee also cited a generational wealth shift: Americans in their twenties will inherit roughly $700 billion this year, up sharply from about $100 billion in 2019-2020, which he says could help push crypto’s total value toward $10 trillion.
He noted Ethereum previously rallied 227-fold in 2016 and 50-fold in 2020 following extended sideways trading. Lee believes similar patterns could repeat as new capital enters the market.
How Is BitMine Positioning Itself for the Rally?
BitMine aims to secure 5% of Ethereum’s total supply through ongoing staking and share buybacks. The firm added 17,362 ETH during the week ending September 28, following a 27,562 ETH purchase the week before.
Those purchases brought total holdings to 6,001,302 ETH, worth roughly $16.06 billion at current prices.
As of September 27, BitMine had staked 5,067,309 ETH, a figure it says exceeds any other entity in the world. Lee called Ethereum the best-performing macro asset this quarter, outpacing traditional markets by a wide margin. He expects institutions still underweight on crypto to raise their exposure during the fourth quarter.
“Our goal is for Bitmine stock to deliver higher returns than Ethereum itself,” Lee noted.
Ethereum currently trades near $2,676, down about 1% over the past 24 hours. Lee’s outlook remains speculative, and cryptocurrency markets can move sharply in either direction.