Tom Lee Says the Biggest Crypto Bull Market Ever Is Starting
Lee points to Bitcoin above the 200-day average and continued inflows into crypto products. BitMine is expanding its Ethereum position further toward 5% of supply.
Key Takeaways
- Tom Lee says crypto is starting what he calls the biggest bull market ever, backed by Bitcoin above the 200-day average and institutional inflows.
- BitMine bought another 17,362 ETH and reached 6,001,302 ETH, while the company aims to own 5% of Ethereum’s supply.
- Lee calls Ethereum the best-performing macro asset of this quarter and sees tokenization, staking, and wealth transfer as extra support for crypto.
Tom Lee, chairman of BitMine Immersion Technologies, says crypto is starting what he calls the biggest bull market ever. His comments came at the same time as new Ethereum purchases by BitMine, which pushed the company closer to its ambitious ETH ownership target.
Why Lee Is Optimistic Now
Lee tied his view mainly to Bitcoin. According to him, the coin is trading above its 200-day average, a widely used trend indicator that helps show the market’s broader direction. He also pointed out that this signal has often lined up with the start of a bull market in the past.
He also mentioned the continued inflows into Bitcoin products in September. According to Lee, that shows institutional demand is still there. He also said at Korea Blockchain Week 2026 that major players such as BlackRock and JPMorgan Chase are tokenizing assets, which he says shows blockchain infrastructure is increasingly being seen as something permanent.
Lee also pointed to a major wealth transfer in the US. People in their 20s are expected this year to inherit about $700 billion (€616 billion), compared with around $100 billion (€88.1 billion) in 2019 and 2020. In his view, that shift could send extra capital into crypto.
BitMine Keeps Buying
BitMine bought 17,362 ETH in the week through September 28, after buying 27,562 ETH the week before. That brought its total holdings to 6,001,302 ETH, worth about $16.06 billion (€14.1 billion) at current prices.
On September 27, BitMine had 5,067,309 ETH staked, which the company says is more than any other entity in the world. The company ultimately wants to hold 5% of Ethereum’s total supply through staking and share buybacks.
Lee called Ethereum the best-performing macro asset of this quarter. He also said investors who are still underweight crypto may increase their exposure further in the fourth quarter. Ethereum was trading around $2,676 (€2,360), about 1% lower over the past 24 hours.
What This Means for Ethereum
For European crypto readers, the key point is that Lee’s optimism is not based only on price expectations, but also on institutional signals and the growth of tokenization. That fits a market where major financial firms are working with blockchain more and more, while Ethereum still plays a major role in staking and infrastructure. It makes the coin a central gauge for sentiment across the broader crypto market again. His earlier call for a 12-month bull market was also built around the same mix of price strength and tokenization as the driver of the next phase.
