- BitMine Immersion slowed its aggressive Ethereum accumulation, purchasing just 26,659 ETH last week compared to over 100,000 previously.
- Executive Tom Lee set three price targets for Ethereum: $12,000, $22,000, and $62,000 if it becomes the world’s primary financial tool.
- Lee forecast that half of the world’s top banks will be native digital asset companies within a decade.
- He highlighted that Tether and Jane Street are set to out-earn major traditional banks with far fewer employees.
On Monday, BitMine Immersion reported increasing its Ethereum treasury to 5.2 million ETH, though it sharply slowed its weekly buying pace. The company’s executive, Tom Lee, argued in a chairman’s message that Ethereum is exiting a five-year consolidation phase.
Lee called Ethereum a “wartime store of value,” noting it’s been the top-performing asset since the Iran War began. He illustrated that a $100,000 portfolio with a 5% ETH allocation since 2016 would now be worth $1.7 million.
Consequently, he established three ambitious price targets for Ethereum. These are $12,000, $22,000, and a staggering $62,000 if it becomes the global primary payment rail.
This potential is backed by a tokenized market that according to Grayscale data could reach $300 trillion. Meanwhile, Lee contrasted the efficiency of crypto-native firms with traditional finance.
He noted Tether will make about $15 billion this year with only 300 employees. Jane Street is expected to generate $40 billion with just 3,000 staff, outpacing major banks.
Furthermore, Lee predicted a seismic shift in the financial industry’s structure. He believes half of the world’s largest banks will be native digital asset companies in ten years.
He compared this transformation to how Tesla and Amazon disrupted their respective industries. If Ethereum hits his targets, shares of BitMine Immersion could theoretically reach $5,000.
The company’s stock was up over 3% in midday trading following the report. However, Ethereum’s price was trading at $2,328, down 1% in the last 24 hours.
✅ Follow BITNEWSBOT on Telegram, Facebook, LinkedIn, X.com, and Google News for instant updates.
